Renationalization of YPF Renationalization of YPF President Cristina Fernández de Kirchner of Argentina introduced a bill on April 16, 2012 for the partial renationalization 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%. The bill was overwhelmingly approved by both houses of Congress, and was signed by the president on May 5. The government of Argentina eventually agreed to pay $5 billion in compensation to Repsol, which had previously owned YPF. YPF was founded in 1922 as the first oil company
Cristina Fernández de Kirchner opposed to the Kirchners. The Kirchners lost the majority of Congress as a result of the election. The Front for Victory recovered the majority in both chambers of the Congress during the 2011 presidential elections, when Cristina Kirchner was re-elected for a second term. The party had projects to amend the constitution and allow indefinite reelections, but lacked the supermajority required for it. A victory at the 2013 midterm elections would have given such majority, but the party was defeated in most provinces. Sergio Massa, a former cabinet minister of the Kirchners, won in the Buenos Aires Province by nearly