Nationalization of oil supplies In April 2010, Argentina's president Cristina Fernández de Kirchner introduced a bill on April 16, 2012, for the expropriation 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%. Investment in exploration at YPF as a percentage of profits had been far below those in most other Repsol subsidiaries, and declines in output at the firm represented 54% of the nation's lost oil production and 97% in the case of natural gas. Market analysts and Repsol blamed the decline
Argentine Grand Prix but was cancelled pre-season, leaving a 5-week gap between the opening two rounds of the 1999 championship. In February 2012, Argentine president Cristina Fernandez de Kirchner announced negotiations were coming to a close to bring the Grand Prix back to the country by 2013, this time at a street circuit to be created in the seaside resort city of Mar del Plata, scotching stories which surfaced in December 2011 that suggested a new circuit, being constructed at Zárate, was to target F1. Contracts were expected to be signed on May 2012, but this didn't happen. Bernie Ecclestone, commercial rights holder