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 However, with 13 challengers splitting the vote, Kirchner won the election decisively in the first round with just over 45% of the vote, followed by 23% for Elisa Carrió (candidate for the Civic Coalition) and 17% for former Economy Minister Roberto Lavagna. Kirchner was popular among the suburban working class and the rural poor, while Carrió and Lavagna both received more support from the urban middle class. Kirchner lost the election in the large cities of Buenos Aires and Rosario. On 14 November, the president-elect announced the names of her new cabinet, which was sworn in on 10 December. Of