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%
Railway nationalisation in Argentina French companies, Argentine ones also became part of "Ferrocarriles Argentinos", the state-owned company specifically created after the nationalisation to manage the entire railway network. The list of companies taken over by each division was as follows: Notes: After the nationalisation, maps of the six railway divisions managed by state-owned Ferrocarriles Argentinos were as follows: Argentines saw railway nationalisation as a major step towards the economic independence of their country which had for so long been under the influence of foreign capital. Nationalisation of the railways, the central bank, the telephone system and the docks were part of Perón's economic recovery