Repsol may lose another concession in Argentina
Fourth province poised to revoke license on oil field it claims Spanish company is neglecting
Repsol YPF may see another one of its concessions in Argentina seized as early as Monday when the provincial government of Salta is expected to revoke the firm’s license to operate an oil field and put it up for bid, a Buenos Aires daily reported Sunday.
If the move is completed, it will be the fourth province in Argentina this month that revoked Repsol’s concessions. On Saturday, Mendoza province reclaimed an oil field located within its jurisdiction.
The moves, which began on March 15 with four oil fields in Chubut and Santa Cruz provinces reverted back to local authorities, has begun to tarnish Spanish-Argentinean relations even as President Cristina Fernández de Kirchner has said she has no intention of nationalizing the industry.
Salta’s energy secretary Flavio Aguilera told La Nación that the “Tartagal West” oil field was being seized because Repsol has kept it inactive for some time.
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