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Tuesday, 02 December, 2008, 03:50 GMT | more >>

Repsol YPF eyes Argentine partner



By Upstream staff 

Repsol YPF should take on an Argentine partner and float part of its Argentine operation YPF in the first half of 2008, chairman Antonio Brufau said.

"I hope that in the first quarter of 2008 we'll be able to announce a deal to take on an Argentine industrial partner and to list 15-20% of YPF's capital in the first half," Brufau told reporters. "That way, Repsol will keep about 55 percent of YPF's capital," he said.

He also said the company will invest €5 billion to €6 billion ($7.1 billion to $8.5 billion) a year over the next five years, .

"Our objective is organic growth, without ignoring opportunities that present themselves, but these would always be minor acquisitions," Brufau told reporters.

"We're updating our strategic plan for the next five years, during which we'll invest from 5 billion to 6 billion euros a year in the business's three pillars: upstream, Argentina and downstream," he said, according to Reuters.


Thursday, 27 September, 2007, 09:13 GMT  | last updated: Thursday, 27 September, 2007, 09:13 GMT

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