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Regions :: Western Europe :: Spain

Pemex denies it wants to split Repsol to gain control of upstream assets

9:10 AM MDT | March 30, 2014 | Natasha Alperowicz

Repsol’s (Madrid) shareholders’ meeting on Friday approved the company’s $5 billion settlement with Argentina over the 2012 seizure of YPF. The meeting also highlighted tensions with Pemex (Mexico City), which owns a 9.3% stake in the Spanish oil company.   The shareholders’ meeting approved a new bylaw that would increase the number of votes needed to force a breakup of Repsol’s upstream and downstream businesses. Such a move will now require a majority 75% ‘yes’ vote. Spanish media reports had claimed that Pemex...

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