Nationalization of oil supplies In April 2010, Argentina's president Cristina Fernández de Kirchner introduced a bill on April 16, 2012, for the expropriation 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%. Investment in exploration at YPF as a percentage of profits had been far below those in most other Repsol subsidiaries, and declines in output at the firm represented 54% of the nation's lost oil production and 97% in the case of natural gas. Market analysts and Repsol blamed the decline
Presidency of Cristina Fernández de Kirchner The Supreme Court rules the media law to be constitutional, a pair of days after the election. Cristina Fernández, who was under medical treatment during both events, changed the cabinet at her return, appointing Jorge Capitanich as chief of cabinet, Axel Kicillof as minister of economy, Juan Carlos Fábrega as president of the Central Bank, and Carlos Casamiquela as minister of Agriculture. The interior trade secretary Guillermo Moreno resigns the following day. The international controversy over the renationalization of YPF ends with a financial compensation for Repsol. The year ends with several electricity blackouts and with police revolts at several