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
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