• 4 minutes Pompeo: Aramco Attacks Are An "Act Of War" By Iran
  • 7 minutes Who Really Benefits From The "Iran Attacked Saudi Arabia" Narrative?
  • 11 minutes Trump Will Win In 2020
  • 15 minutes Experts review Saudi damage photos. Say Said is need to do a lot of explaining.
  • 2 hours Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 6 hours Hong Kong protesters appeal to Trump for support.
  • 16 hours Europe: The Cracks Are Beginning To Show
  • 4 hours Memorize date 05/15/2018 cause Huawei ban is the most important single event in world history after 9/11/2001.
  • 18 hours Iran Vows Major War Even If US Conducts "Limited Strikes"
  • 4 hours Millennials: A boil on the butt of the work ethic
  • 5 hours A little something for all you Offshore swabbies
  • 13 hours Ban Fracking? What in the World Are Democrats Thinking?
  • 32 mins LA Times: Vote Trump out in 2020 to Prevent Climate Apocalypse
  • 20 mins When Trying To Be Objective About Ethanol, Don't Include Big Oil Lies To Balance The Argument
  • 3 hours Saudi State-of-Art Defense System looking the wrong way. MBS must fire Defense Minister. Oh, MBS is Defense Minister. Forget about it.
  • 3 hours Shale profitability
  • 6 hours US and China are already in a full economic war and this battle for global hegemony is a little bit frightening
  • 1 day Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
  • 13 hours Let's shut down dissent like The Conversation in Australia
Is A Full-Blown War In The Persian Gulf Inevitable?

Is A Full-Blown War In The Persian Gulf Inevitable?

Following Saturday’s crippling attacks on…

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
Download on the App Store Get it on Google Play