Is Beaten Down Repsol A Bargain?
By Bruce Vanderveen:Madrid based Repsol YPF SA (REPYY.PK) may now be a buy. Beset by the perfect storm of the euro-crisis, loss of Libyan production, and rumors of nationalization of its Argentine subsidiary YPF (YPF), the stock is flirting with 52-week lows.Yet, this is a company in a swirl of change as it completes asset sales, partners with China offshore Brazil, beefs up exploration and production, and grows its already formidable LNG business.
With a market cap of $24 billion, Repsol is a large integrated international oil company with an historically strong presence in Spain, and Latin America. It holds a 54% stake in YPF - Argentina's largest oil company. Repsol is active in over 30 countries around the world.Upstream the company is actively looking, worldwide, for new oil and gas reserves. Midstream, Repsol engages in refining, petrochemicals and transportation. Downstream it operates over 6,400 service stations inComplete Story »