Argentina Plans to Seize YPF Gas SA

Apr. 18, 2012 07:19PM PST

Bloomberg reported Argentina plans to seize YPF Gas SA (NYSE:YPF) in order to bolster its control of natural resources.

As quoted in the market news:

Argentine provinces withdrew 15 oil field licenses from YPF before this week’s nationalization announcement as the government demanded the Madrid-based oil producer increase output and investments as it seeks to cut back on fuel imports that doubled to $9.4 billion last year.

Click here to read the full Bloomberg report.