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
Presidency of Cristina Fernández de Kirchner on January 12 against a central bank account in New York. Judge Sarmiento also annulled the decree that removed Redrado and reinstated him as President of the Central Bank the following day. The ruling also refuted claims of mis-conduct cited by President Cristina Kirchner to justify his removal. International media described the attempted removal of Redrado as authoritarian, while criticizing the planned use of reserves for debt retirement, as well as accelerating spending growth, as fiscally irresponsible. Opposition Congresswoman Elisa Carrió, a likely candidate in the upcoming 2011 presidential campaign, has raised the possibility of impeachment procedures against Mrs. Kirchner.