Latin American Economy & Business - December 2013 (ISSN 1741-7430)

In late November an outline deal was reached to resolve one of Latin America’s biggest and bitterest commercial disputes: the battle over compensation after the Argentine government expropriated a 51% shareholding in the country’s main oil company Yacimientos Petrolíferos Fiscales (YPF), previously controlled by the Spanish oil major Repsol. A key broker in the deal was Mexico’s state-owned Petróleos Mexicanos (Pemex), itself an important shareholder in Repsol. So what are these three companies now trying to achieve?