The Renationalization of Ypf Under International Law; a Case Study
THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY
Nina van Limburg Stirum
Brouwersgracht 48-1,
1013GX Amsterdam
0621500446
[email protected]
10127305
Bachelor essay supervisor: Jim Mathis
Contents
THE RENATIONALIZATION OF YPF UNDER INTERNATIONAL LAW; A CASE STUDY
Introduction
Chapter 1: Expropriation and Nationalization in general
Chapter 2: Nationalization under international law
1: Public Purpose
2: Discrimination
3: Due Process
4: Compensation
Investment Treaties
Chapter 3: YPF; Yacimientos PetrolĂferos Fiscales
Short history
April 2012
Chapter 4: Nationalization of YPF under international law
Access to the ICSID
Application of the law
Ad. 1: Public interest
Ad. 2: Discriminatory measures
Ad. 3:In accordance with the law (Due process)
Ad. 4: Adequate compensation
Conclusion
Bibliography
Introduction
On the 16th April 2012 Argentine president Cristina Fernandez de Kirchner stated that her government was going to renationalize 51 per cent of the 58 per cent share of Yacimientos PetrolĂferos Fiscales (YPF) owned by Repsol. YPF is the biggest Argentine oil company, since 1999 partly owned by the Spanish multinational Repsol.
After months of negotiations the Argentine government accused Repsol of not investing sufficiently in YPF to maintain or recover reserves. Due to Repsol’s alleged neglect towards YPF the country was no longer self-sufficient in fuel. As result Argentina had to import fuel, at a huge expenditure each year, approximately 9 billion US$.
On the 3rd of December 2012 Repsol filed a complaint against the Argentine government at the International Centre for