YPF (Yacimientos Petrolíferos Fiscales) is an Argentinean company engaged in the exploration, exploitation, distillation, distribution and sale of petroleum and its products. It is the largest company in Argentina, employing more than 46,000 people. It was founded as a state enterprise in 1922 but In 1992 was privatized given that it had ceased to be profitable, few years later in 1999, YPF was acquired by the Spanish company Repsol, which took control of 97.81% of YPF after having gone to the tender offer (OPA) by a cash payment of more than 15.000 million.
1 For more than 12 years, the operations of YPF in Argentina didn’t have major problems, however as the time passed, in 2011 conflicts between YPF and the government of Argentina began to arise, at first it was at company level but the problems increased and with the time and it became an international diplomatic conflict between Spain and Argentina.
One of the major problems began when YPF announced the finding of the largest oilfield of the history of Argentina in the province of Neuquén in November 07, 2011; the first estimation is that there is more than 927 million barrels of oil, besides the large amount of barrels, the quality of the oil was also really good which with this new finding Argentina might become a direct competitor with the countries of the Persian Gulf in the energetic sector. 2 Few months later on February 08, 2012, a new estimation of YPF said that the discovering of La Vaca Muerta oilfield was much larger and might produce up to 22.807 million barrels of Oil and it would require an annual investment of 37.000 million to explode it.