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 president, and automatically assumed the presidency on his death. The transition from Néstor Kirchner to Cristina Fernández de Kirchner was also the first time a democratic head of state was replaced by their spouse without the death of either. He remained highly influential during his wife's term, supervising the economy and leading the PJ. Their marriage has been compared with those of Juan and Eva Perón and Bill and Hillary Clinton. Media observers suspected that Mr. Kirchner stepped down as president to circumvent the term limit, swapping roles with his wife. When Néstor Kirchner refused to run for re-election in