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
China National Offshore Oil Corporation China National Offshore Oil Corporation China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司 Pinyin: "Zhōngguó Háiyáng Shíyóu Zǒnggōngsī"), is a major national oil company in China. It is the third-largest national oil company in the People's Republic of China, after CNPC (parent of PetroChina) and China Petrochemical Corporation (parent of Sinopec). The CNOOC Group focuses on the exploitation, exploration and development of crude oil and natural gas in offshore China. The company is owned by the government of the People's Republic of China, and the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC) assumes shareholder