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 ended his term of office in 1999 and was replaced by Fernando de la Rúa. Kirchner took part in a commission to investigate money laundering with fellow legislator Elisa Carrió, and got into conflicts with her. She ran again for senator in the 2001 midterm elections. Néstor Kirchner was elected president in 2003, and Cristina became the First Lady. Under these circumstances, she sought a lower profile in Congress. Néstor Kirchner had a political dispute with the previous president, Eduardo Duhalde. Their dispute continued during the 2005 midterm elections. Without consensus in the PJ for a single candidate for senator