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Revision as of 08:23, 22 July 2005 by Marianocecowski (talk | contribs)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Yacimentos Petrolíferos Fiscales (YPF) was an Argentine state-owned oil company.
The company of exploration, exploitation, distillation and sell of petroleum had its origin in 1907, when the black gold was found near Comodoro Rivadavia city in Chubut. The company was created in 1922 under the government of Hipólito Yrigoyen, and was first directed by Enrique Mosconi, who would become something of a petroleum eminency in Argentine history. It was the first oil company completely run by the state (outside Soviet Union).
Since its foundation, YPF build not only several extracting facilities but hole towns and cities, such as aforementioned Comodoro Rivadavia, Caleta Olivia in Santa Cruz and Plaza Huincul in Neuquen.
During the presidency of Carlos Menem, and as one of his many controversial privatizations, 99% of the company was sold to Spanish multinational corporation Repsol S.A. and now the union of the two companies is known as Repsol-YPF. Currently YPF represents almost 50% of Repsol-YPF production.
In 2004, president Néstor Kirchner creates Enarsa or Energía Argentina Sociedad Anónima ("Argentine Energy Joint stock company") of which the state controls 53%. Enarsa recently joined efforts with Venezuelan state-owned Petróleos de Venezuela.
External links
- Repsol-YPF official site
- YPF Provatisation (Spanish)
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