Repsol-YPF to sell Argentina R&M, gas assets

Repsol-YPF SA plans to sell some of its refining and marketing assets in Argentina, held by its Astra unit, as part of its plan to divest assets following Repsol SA`s takeover of YPF SA last month (OGJ, June 28, 1999, Newsletter).Repsol-YPF Chairman and CEO Alfonso Cortina told a press conference in Buenos Aires last week that the asset divestment may, in time, evolve into a swap with Brazil`s Petroleo Brasileiro SA, which is looking to expand its presence in Argentina`s downstream.Cortina also said the new Repsol-YPF group plans to invest almost $11.8 billion worldwide over the next 3 years, while capital spending for Latin America would total $6-7 billion.The new combine will have a sin...

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