YPF military coup against Yrigoyen backed by, among others, foreign oil interests. YPF was privatized in 1993 and bought by the Spanish firm Repsol S.A. in 1999; the resulting merger produced 'Repsol YPF'. The renationalization of 51% of the firm was initiated in 2012 by President Cristina Fernández de Kirchner. The government of Argentina eventually agreed to pay $5 billion compensation to Repsol. The company, specializing in the exploration, production, refining and commercialization of petroleum, had its origin in 1907, when oil was discovered near the city of Comodoro Rivadavia in Chubut. Following World War I, oil had become an important
Presidency of Cristina Fernández de Kirchner provinces, which causes looting. The year began with a renewed economic crisis, which led to a nationwide strike of teachers, and a general strike by union leader Hugo Moyano. The crisis was temporarily solved with a rise of the interest rate. On January 22, Cristina Fernández announced the government-sponsored programme "Progresar", which gives a monthly subsidy for youths aged 18 to 24 who wish to complete studies but are unemployed or work under the table. Cristina Kirchner visited Pope Francis for a third time. The scandal over Amado Boudou grew when he was summoned for inquiry by Federal Judge Ariel