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The day after the measure was announced, BBVA slid 6.5 percent in Madrid and Repsol YPF SA, Spain's biggest oil producer, fell 13 percent.
CENTERFORSECURITYPOLICY: Argentina��s Kirchner seizes private pension funds
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Scarabeo 9 is a semi-submersible drilling vessel recently built by Yantai Raffles, which will be on contract by Repsol YPF for deepwater exploratory drilling off Cuba.
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First to use it will be the Spanish oil company Repsol YPF, which plans to drill an exploratory well around 100km (62 miles) from the Florida Keys.
BBC: The Scarabeo 9 rig
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The fight between Repsol YPF , a Spanish energy concern, and Endesa , Spain's leading electricity provider, for the second-biggest generator, Iberdrola, has ended in a government-sanctioned settlement.
ECONOMIST: Sweet deals
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Argentina is applying a, let us be polite about this, controversial interpretation of its own laws over the nationalisation of YPF from Repsol.
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The deal also underscores CNOOC's greater presence in the region, where it must compete with the likes of Petrobras and Repsol-YPF to remain relevant.
FORBES: Magazine Article
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The profits came on a day when a raft of other European companies posted strong profits, including consumer goods company Unilever, Spanish energy company Repsol-YPF and drug-makers Bayer and AstraZeneca.
FORBES: Siemens Sends A Strong Signal On Growth
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Her government is taking 51% of YPF, wiping out Repsol's 57.4% majority stake.
BBC: YPF oil: Spain prepares response to Argentina
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Spanish Trade Secretary Jaime Garcia Legaz said the EU would intervene over Argentina's seizure of the controlling stake in YPF from Spanish firm Repsol.
BBC: YPF oil: Spain prepares response to Argentina
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Repsol has offered to pay YPF's 2011 dividend in stock, and not to repatriate profits.
ECONOMIST: Rootling around for cash
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Her nationalisation of most of Repsol's share of YPF, an oil company, in April, halted but did not reverse the decline.
ECONOMIST: Another step towards a siege economy
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Another sign of the government's growing desperation is its bullying of YPF, a unit of Spain's Repsol.
ECONOMIST: Rootling around for cash