Argentina's YPF pledges to continue gas supplies

By Caiman Valores:Beaten down Argentine integrated oil and gas play YPF S.A. (YPF) continues to surge on more emerging positive developments, to now be up by over 19% since I last reviewed the company in early September 2012.

Spain denounced the "hostile" decision by Argentina to nationalise Spanish-owned oil company YPF, a subsidiary of Repsol, and warned Monday that it would take "clear and forceful measures" in response.Argentina's decision had "broken the climate of friendship" between the two countries, Foreign Minister Jose Manuel Garcia Margallo told journalists, speaking after a crisis cabinet meeting called by Prime Minister Mariano Rajoy.The government strongly "condemns... the decision to expropriate" a controlling stake in the Repsol subsidiary, he added.

Argentina's decision this week to nationalize its largest oil company might help reduce its dependence on energy imports but could hurt its foreign investment, analysts say.The Argentine government decided to take a 51 percent stake in YPF from Spain's Repsol after accusing the firm of failing to adequately fund the enterprise.Buenos Aires officials argue the move will help boost the country's domestic energy supplies, and some experts agree.