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Argentina and YPF 阿根廷与YPF Flogging a Dead Cow 抽一头死牛 The recently nationalised oil company agrees on abig foreign investment 最经刚刚国有化的油企接受了一项大型外国投资。 Jul 27th 2013 | BUENOS AIRES |From the printedition Out of gas LITTLE more than a year ago President Cristina Fernndez de Kirchner announced thenationalisation of YPF, an oil company owned by Spains Repsol. Ms Fernndez called it avictory for energy sovereignty, claiming that Repsol had plundered its Argentine holdingfor quick profits without investing in exploration or development. But on July 16th, after ayear in which YPFs oil and gas production continued to disappoint, the governmentannounced that it had agreed on a big joint venture between YPF and a different foreign oilgiant, Chevron. 在一年多一点之前，阿根廷总统克里斯蒂娜费尔南德斯德基什内尔宣布西班牙Repsol公司所有的石油公司YPF的国有化。费尔南德斯总统称这是能源主权的胜利，她表示Repsol公司没有投资探测开发却坐收渔翁之利。但是一年过去了，YPF的石油天然气生产仍然令人失望。7月16日，阿政府宣布接受YPF与另一家外国石油巨头雪佛兰组成合资企业。 Argentinas energy industry is in a sad state. In 2011 the country became a net importer ofenergy for the first time since 1984, further eroding its foreign-currency reserves, now attheir lowest in six years. Nationalisation has not helped: in the first quarter of this year YPFsoutput of crude oil fell by 0.7% and of natural gas by 3.7%. April saw a fire at a refinery.Energy imports are expected to reach $14 billion this year, up from $9.2 billion in 2012. | 
