Argentina Takes Over YPF Energy Company

Argentine President Cristina Fernandez de Kirchner announced April 16 that she will send a bill to Congress authorizing the expropriation of a majority stake in YPF, a subsidiary of Spanish energy company Repsol. This will give the government greater flexibility in managing the oil and gas sector, but presents a number of serious challenges — including the fact that this process has made outside investors even more wary of investing in Argentina.