Argentina Hopes Repsol Deal Will Dispel Investor Doubts

wochit business
February 26, 2014 AT 12:01 PM
Two years after seizing the country's biggest energy company from Spain's Repsol, Argentina hopes a new compensation deal will lure more foreign investment to what many believe to be some of the world's most promising shale oil and gas prospects. Repsol on Tuesday announced that its board of directors had approved a $5 billion settlement with Argentina after President Cristina Fernandez expropriated 51 percent of Repsol's stake in energy company.