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%
Mario Montoto has not been as friendly as his relationships with former Defense Ministers José Pampuro and Arturo Puricelli, and that, by the same token, he is not as close to Cristina Fernandez de Kirchner as he was to Menem and Nestor Kirchner. Montoto and Daniel Hadad founded Global View in March 2008 as a subsidiary of Comesur. It has provided video surveillance to several Argentine municipalities, including the city of Buenos Aires, Mar del Plata, La Plata, Tiger, Lomas de Zamora, and Rosario. In February 2012, the Japanese NEC Corporation bought 85% of Global View. Montoto retained 15% of the firm