Spanish oil giant Repsol’s council of administration decided to unanimously reject Argentina’s compensating offer after last year’s expropriation.
In a press document released by Repsol, the Spanish oil giant stated that the proposal is “unsatisfactory for the interests of the company, because it does not address the company’s loses” .
However, they do appreciate the “interest” in Argentina’s government for trying to reach an agreement.
YPF proposal was estimated in five billion dollars, and it included the creation of a mix society, in which Repsol apparently had the 47% of a small part of “Vaca Muerta” shale gas field.
Source: Buenos Aires HErald