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
Repsol energy company of the year". In December 2014 Repsol announced that it would buy Canadian oil company Talisman Energy in a transaction worth about $15.1 billion Cdn ($13 billion US). In 1971 Repsol logo first appears, as REPESA (Refinería de Petróleos de Escombreras S.A.) brand product, during the motorcycle Derby of that year. Its name derives from the founding company REPESA for its visibility and easy pronunciation in different languages. In 1991, the Instituto Nacional de Hidrocarbonos (INH), before the imminent demise of the state oil monopoly, set the objective to create a company of mixed public-private capital, which exploded