Barter is the present and the future of international trade, especially for people who is starting in the import export business. Barter and more: Triangular operations.
Argentina has reached an agreement in principle to compensate Spain’s Repsol for the nationalisation of energy firm YPF. Argentina seized YPF last year without paying anything. The Spanish company had been demanding US$10.5 billion in compensation. In Buenos Aires, Repsol, YPF and Mexico’s Pemex, which holds a stake in Repsol, said they had reached a process for determining compensation.
The agreement must be ratified by Repsol during a board meeting yesterday. YPF produces about a third of Argentina’s oil and a quarter of its gas. Argentina has some of the world’s largest reserves of shale oil and gas. The authorities in Argentina had accused YPF of not investing enough to increase output from its oil fields. Repsol replied that it had invested US$20 billion in the country.
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