| Revision as of 13:55, 20 July 2008 editTazmaniacs (talk | contribs)25,976 editsm →History← Previous edit | Revision as of 13:59, 20 July 2008 edit undoTazmaniacs (talk | contribs)25,976 edits →HistoryNext edit → | ||
| Line 10: | Line 10: | ||
| YPF bought its first ] in the ] in 1923, and built not only several extracting facilities, but whole towns and cities, such as Comodoro Rivadavia, ] in ], ] in ] and ] in ]. Under ]'s administration, Enrique Mosconi created the ] of ], which was the tenth largest in the world <ref name=Pigna153> Felipe Pigna, 2006, p.153 </ref>. According to Mosconi, this spawned the beginning of "the mobilization of all sorts of resistances and obstacles" from the oil ]s, in particular from the ], which was the most influent foreign company in Argentina, present in Comodoro Rivadavia, ] and ] <ref name=Pigna153/>. | YPF bought its first ] in the ] in 1923, and built not only several extracting facilities, but whole towns and cities, such as Comodoro Rivadavia, ] in ], ] in ] and ] in ]. Under ]'s administration, Enrique Mosconi created the ] of ], which was the tenth largest in the world <ref name=Pigna153> Felipe Pigna, 2006, p.153 </ref>. According to Mosconi, this spawned the beginning of "the mobilization of all sorts of resistances and obstacles" from the oil ]s, in particular from the ], which was the most influent foreign company in Argentina, present in Comodoro Rivadavia, ] and ] <ref name=Pigna153/>. | ||
| On September 28, 1928, at the end of Alvear's term, the |
On September 28, 1928, at the end of Alvear's term, the deputies approved a law establishing ] on oil <ref name=Pigna154> Felipe Pigna, 2006, p.154</ref>. The monopoly, however, was not absolute, being limited to ], exploitation and transport, but excluding selling and imports <ref name=Pigna154/>. Private firms opposed themselves to the law project, refusing to pay a 10% ] <ref name=Pigna155> Felipe Pigna, 2006, p.155 </ref>, and the law was finally blocked by the conservatives in the ]. | ||
| ] became an important theme of Yrigoyen's electoral campaign in 1928, although the Yrigoyenistas focused their criticisms against the Standard Oil, abstaining themselves from attacking the ], to whom ] was closely linked, in particular the ] <ref name=Pigna155/>. | ] became an important theme of Yrigoyen's electoral campaign in 1928, although the Yrigoyenistas focused their criticisms against the Standard Oil, abstaining themselves from attacking the ], to whom ] was closely linked, in particular the ] <ref name=Pigna155/>. | ||
Revision as of 13:59, 20 July 2008
For the Bolivian oil company, see YPFB.
Yacimientos Petrolíferos Fiscales (YPF -means Fiscal Petroleum Fields-) was an Argentine state-owned oil company.
History
The company, specialising in the exploration, production, refining and commercialisation of petroleum, had its origin in 1907, when oil was discovered near the city of Comodoro Rivadavia in Chubut. Following World War I, oil had became an important ressource, leading to struggles between rival powers to gain control of it.
YPF was created by the June 3, 1922 decree of Hipólito Yrigoyen's administration, and was first directed by Enrique Mosconi. It was the first entirely state-run oil company in the world (the second being created in France in 1924). YPF's creation was followed by the creation of Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), as well as the Uruguayan ANCAP (Administración Nacional de Combustibles, Alcohol y Portland, 1931) and the Brazilian Petrobras, created in 1953 by Getúlio Vargas.
YPF bought its first tanker in the United States in 1923, and built not only several extracting facilities, but whole towns and cities, such as Comodoro Rivadavia, Caleta Olivia in Santa Cruz, Plaza Huincul in Neuquén and General Mosconi in Salta. Under Alvear's administration, Enrique Mosconi created the distillery of La Plata, which was the tenth largest in the world . According to Mosconi, this spawned the beginning of "the mobilization of all sorts of resistances and obstacles" from the oil trusts, in particular from the Standard Oil, which was the most influent foreign company in Argentina, present in Comodoro Rivadavia, Jujuy and Salta .
On September 28, 1928, at the end of Alvear's term, the deputies approved a law establishing state monopoly on oil . The monopoly, however, was not absolute, being limited to oil exploration, exploitation and transport, but excluding selling and imports . Private firms opposed themselves to the law project, refusing to pay a 10% royalties , and the law was finally blocked by the conservatives in the Senate.
Oil nationalization became an important theme of Yrigoyen's electoral campaign in 1928, although the Yrigoyenistas focused their criticisms against the Standard Oil, abstaining themselves from attacking the British, to whom Argentina's economy was closely linked, in particular the Royal Dutch Shell .
Following Yrigoyen's victory at the 1928 elections, YPF, still directed by Enrique Mosconi, reduced oil prices in May 1929, leading to the cheapest petroleum in the world and to an important increase in YPF's sales compared to its rival private companies, forcing them to also lower their prices . Mosconi also reduced the price of kerosene and agrichemical to contribute to the development of the interior regions of Argentina .
The Institute of Petroleum (Instituto del Petróleo) was created on December 30, 1929, and directed by Ricardo Rojas, the rector of the UBA (University of Buenos Aires). Foreseeing conflicts with US private companies, Mosconi proposed an agreement with the Sovietic state company Iuyamtorg, which was to allow Argentina to import 250,000 tons of petroleum each year, paid by leather, wool, tannin and sheep . The agreement was to be officialized in September 1930, along with the complete nationalization of oil ressources . But on September 6, 1930, Yrigoyen was deposed by a military coup headed by José Félix Uriburu, and the project was withdrawn.
In 1965 YPF discovered oil on Puesto Hernández, leading to the ascension of Rincón de los Sauces (Neuquén Province), which has been declared the national energy capital due to its having 50% of the Argentinian national reserves of oil and natural gas.
Privatization
YPF was privatized in 1991, one of many such controversial actions by Carlos Menem. The state retained a 5% share, which it sold in 1999 to Repsol S.A., a Spanish multinational corporation that later launched a successful bid to take over the entire company. The union of the two companies took on the name Repsol YPF; former YPF operations represent almost 50% of its production.
Creation of Enarsa
In 2004, President Néstor Kirchner created Enarsa or Energía Argentina Sociedad Anónima, an energy company of which the state controls 53%. Enarsa recently joined efforts with Venezuelan state-owned Petróleos de Venezuela.
Sport
- Sponsor of Argentina national football team.
- Oil supplier to several Argentinean motor racing series.
References
- Felipe Pigna, Los Mitos de la historia argentina, 3, ed. Planeta Historia y Sociedad, 2006, p.152
- ^ Felipe Pigna, 2006, p.153
- ^ Felipe Pigna, 2006, p.154
- ^ Felipe Pigna, 2006, p.155
- ^ Felipe Pigna, 2006, p.156
- Rincón de los Sauces, national capital of energy
External links
- Repsol YPF official site
- YPF Privatisation (Spanish)
  | This South American corporation or company article is a stub. You can help Misplaced Pages by expanding it. |
 | This Argentina-related article is a stub. You can help Misplaced Pages by expanding it. |
 | This article about a natural gas or petroleum-related company is a stub. You can help Misplaced Pages by expanding it. |