Repsol lifted On News Of Argentine Export Quota Lift

Repsol YPF shares rose by as much as five percent yesterday on newspaper reports that Argentina, which accounts for two-thirds of production at Europe's fifth-largest oil company, has formally scrapped a limit on oil exports from the country.

The shares rose by 52 cents to 12.04 euros as of 1:10 p.m. at the Madrid stock Exchange, taking the stock's gain to eleven percent in the last four sessions.

The Argentine government had previously set a thirty six percent limit on total oil production, to secure local supply and keep prices stable.


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Author`s name: Editorial Team