Repsol Seeks to Block Chevron Deal With YPF via World Bank
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Repsol SA is asking a World Bank panel to help prevent Argentina’s YPF SA from developing assets seized from the Spanish oil producer after Chevron Corp. agreed to invest $1.24 billion in a shale venture in the country.
The request was filed yesterday to the Washington-based International Center for Settlement of Investment Disputes, asking the arbitrator to instruct Argentina to abstain from developing strategic YPF assets such as the Vaca Muerta shale formation, Repsol spokesman Kristian Rix said. The filing couldn’t immediately be verified on the ICSID website and the center didn’t respond to an e-mailed request to comment.