Printer Friendly
The Free Library
23,403,340 articles and books


Ganging Up Against Goliath.

SPAIN'S REPSOL, WHICH RECENTLY TOOK OVER Argentine oil giant YPF, is hoping to keep regulators happy and foreign competitors at bay as it makes a major swap of service stations and refineries with Brazil's Petrobras. * In Argentina, Repsol must appease Argentine regulators, who insist Repsol divest itself of its EG3 brand service stations before approving the takeover of YPF. In Brazil, Repsol needs to supply its Brazilian gas stations with locally refined oil. * Aside from regulatory hurdles, the move also insures that multinational heavyweights are kept out. "Repsol-YPF would prefer, as part of the swap, to Let Petrobras have some of its EG3 stations as opposed to having to sell them to some major foreign oil-products distributor," says Julio Bueno, a director at BR Distribuidora, Petrobras' distribution arm, who is involved in the swap talks. "With the swap, Repsol-YPF will also get a stake in a Petrobras refinery, and keep yet another foreign group from entering the Argentine oil-products distribution market." * Coincidentally, before the takeo ver, YPF and Petrobras had already opened the first of a planned 1,000 gas stations to be built in Brazil and Argentina in the next five years. Sounds like the makings of a perfect deal.
COPYRIGHT 1999 Freedom Magazines, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Author:Kepp, Michael
Publication:Latin Trade
Article Type:Brief Article
Geographic Code:0JINT
Date:Oct 1, 1999
Words:201
Previous Article:TOO CHEAP OIL.
Next Article:High Cash, Low Volume.
Topics:



Related Articles
Citizen Muckraking: How to Investigate and Right Wrongs in Your Community.
From Marie Dean re judging Americans. (Letters to the Editor).
'DAVIDS' MEET GOLIATH NEW COASTER AT SIX FLAGS THRILLS RIDERS.
BRIEFLY MAN IS CHARGED ADVERTISING CASE.
SIX FLAGS REVEALS NEW THRILLER; GOLIATH DWARFS THEME PARK'S ROLLER COASTERS.
(Still trying to) save the whales.
HAHN WANTS SINGLE L.A. GANG INJUNCTION.
Passion v. Arrogance: a Dana & Goliath Story of Wine, Women and Wrong!
EDITORIAL DAVID V. GOLIATH.
Nobody Roots for Goliath.

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters