It also agreed to purchase part of Repsol's liquefied natural gas portfolio outside North America.
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Repsol has offered to pay YPF's 2011 dividend in stock, and not to repatriate profits.
Repsol will be using a Chinese-built drilling rig that only recently left Singapore for Cuban waters.
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Capirossi's Ducati Marlboro team-mate Carlos Checa was fifth and Biaggi's Repsol Honda team-mate Nicky Hayden sixth.
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But in the case of Repsol, Spain's largest oil and gas company, they have become commonplace.
Endesa will buy Iberdrola on condition that both firms sell generating assets to Repsol.
But the risks involved for Sinopec, Repsol and Statoil as join venture partners, are enormous.
Enarsa, a new state firm, has signed deals with Brazil's Petrobras and Spain's Repsol for offshore exploration.
Even Repsol, relegated to the pink sheets, is doing better this year for investors, up 3.6 percent.
Hit by the sharp slowdown in the construction business, Sacyr relies on Repsol's dividends to service its debt.
Her government is taking 51% of YPF, wiping out Repsol's 57.4% majority stake.
The third problem has to do with the messy legacy of the Repsol expropriation, which complicates future investment prospects.
The Spanish government, once the owner of both Repsol and Endesa, maintains veto power over acquisitions by both companies.
Repsol struck oil there in 2004, but decided extraction would not be profitable.
That allowed Pemex to bring in foreign operators like Repsol, Schlumberger and Lewis Energy of San Antonio to drill for gas.
Her nationalisation of most of Repsol's share of YPF, an oil company, in April, halted but did not reverse the decline.
Repsol also peddled a stake to China's Sinopec, which had already invested in its Brazilian assets and reportedly made an offer.
It is due in Cuban waters by the end of the year, contracted by Spain's Repsol to drill an exploratory well.
But Repsol has threatened to sue to try to keep Big Oil from tapping into what it considers illegally appropriated assets.
Repsol has said that its operations will comply with all US safety regulations, and the rig has been inspected by US officials.
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 27-year-old Repsol Honda rider said he was weary of not being able to win with a motorcycle which did not suit him.
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Indeed, Repsol will need yet more cash, given the expense of developing its big recent discoveries off the coasts of Brazil and America.
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.
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.
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.
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Repsol will be drilling in waters that are deeper than those in which the Deepwater Horizon rig operated at the time it exploded last year.
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The biggest contract winner, Spain's Repsol, has reportedly scaled back its work there because Pemex won't reimburse it for runaway inflation in rigs and workers.
All hopes are pinned on the Perla field (holding 15 trillion cubic feet of gas) to come online next year via PDVSA, Eni and Repsol.
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.
FORBES: Cuba Chases 5 Billion Barrels of Undiscovered Oil; U.S. Groups Respond
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