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Argentina Moves to Nationalize Major Oil Company

HeadlineApr 17, 2012

Argentina has unveiled plans to nationalize the country’s largest oil company, YPF. In a major push to reclaim sovereignty over the country’s natural resources, Argentine President Cristina Fernández de Kirchner said Monday the government would seek a 51 percent share in the company. She accused the firm’s majority owner, the Spanish company Repsol, of failing to meet Argentina’s energy needs. The move has sparked an outcry from Repsol and the Spanish government.

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