Renationalization of YPF Renationalization of YPF President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization of YPF, the nation's largest energy firm. The state would purchase a 51% share, with the national government controlling 51% of this package and ten provincial governments receiving the remaining 49%. The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5. The government of Argentina eventually agreed to pay $5 billion in compensation to Repsol, which had previously owned YPF. YPF was founded in 1922 as the first oil company
Cristina Fernández de Kirchner singing the Argentine national anthem. The city police estimated that the demonstration was attended by 400,000 people. Several scandals took place during the Kirchner administration. The first involved the detention of Venezuelan-American businessman Antonini Wilson in an airport after being found with a suitcase filled with $800,000. This money was illegally provided by Petróleos de Venezuela, the state oil company, to be used for Kirchner's 2007 general election campaign. Details of the case were explained by businessman Carlos Kauffmann and lawyer Moisés Maiónica, who pleaded guilty. The FPV financing of the 2007 elections caused another scandal years later. Three pharmaceutical