Repsol nationalize its oil and gas production. Results however show that the move to nationalize actually hurt oil production in Argentina. Compared to the oil production in 2011, YPF’s oil production in 2012 fell by 8%, according to data from Argentina’s Department of Energy. Repsol had the backing of the EU and the US, and both powers condemned Argentina’s move as expropriation. President Fernández claimed that the state would seize 51% of YPF. In June 2013, Repsol rejected a $5 billion proposal from Argentina to compensate for the 2012 expropriation. The proposal also would have given Repsol drilling rights to 6.4%
Cristina Fernández de Kirchner the chamber of deputies, including the number of legislators needed for quorum. The Kirchners had lost that majority in the 2009 elections. She invited children on stage during the celebrations, and Vice President Amado Boudou played an electric guitar. As she had in 2007, she gave a conciliatory speech. When she first took office, Cristina Kirchner replaced the previous minister of economy, Miguel Gustavo Peirano, who had been appointed by her husband as former president. Peirano was succeeded by Martín Lousteau in December 2007. He served as the first of several ministers of economy under her presidency. The attempt to