• 8 minutes U.S. Shale Oil Debt: Deep the Denial
  • 13 minutes WTI @ $75.75, headed for $64 - 67
  • 16 minutes Trump vs. MbS
  • 5 hours Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 13 hours Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 13 hours Why I Think Natural Gas is the Logical Future of Energy
  • 54 mins Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 12 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 6 hours Get on Those Bicycles to Save the World
  • 9 hours Iraq war and Possible Lies
  • 1 day Satellite Moons to Replace Streetlamps?!
  • 1 day Can “Renewables” Dent the World’s need for Electricity?
  • 1 day Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 20 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 7 hours EU to Splash Billions on Battery Factories
  • 23 hours Can the World Survive without Saudi Oil?
Goldman Sachs: Oil Unlikely To Reach $100

Goldman Sachs: Oil Unlikely To Reach $100

Goldman Sachs’ chief commodities analyst…

Spain Concerned it Might Lose Control of its Largest Oil Company

Spain’s government is concerned that Repsol-YPF, Spain’s largest oil company could revert to foreign ownership.

Madrid’s concerns have been heightened by recent international market trades that have resulted in 30 percent of Repsol’s voting bloc being acquired by Mexico’s Petroleos Mexicanos state oil monopoly Pemex and construction company Sacyr Vallehermoso.

Spanish Industry Minister Miguel Sebastian said in an interview with Cadena Ser radio that the way to ensure Repsol’s “Spanishness” is for the majority of shareholders to be Spanish, as the case now with Sacyr holding 20 percent and savings bank La Caixa 12.8 percent.

Sebastian added that Pemex officials told him in a meeting to discuss the voting deal with Sacyr that Mexico reputedly  had no interest in taking control of Repsol-YPF, stating, “They gave me assurances that this operation would in no way put the company’s at risk,” adding that Repsol-YPF  had arrangements with other companies, including Brazil’s Petrobras – “also state-run and foreign” – and that is fine “as long as the company’s Spanishness is not at risk.” Pemex reported that a key element of its agreement with Sacyr is to expand its operations globally.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News