Dec 4 Repsol filed a U.S. lawsuit to
block Chevron Corp's deal with Argentina's YPF
, ramping up the Spanish oil company's legal response
to the loss of its assets in Argentina.
Repsol is making good on a threat to launch legal action
against any company that partners with YPF after Argentina
seized control of Repsol's majority stake in the energy company
The lawsuit, filed in U.S. District Court in New York on
Tuesday, comes a day after Repsol filed a complaint against
Argentina at the World Bank's international arbitration forum
over the asset seizure.
"Chevron's willingness to capitalize on Argentina's
expropriation of Repsol's major interest in YPF is in stark
contrast with that of other major players in the oil and gas
industry," the lawsuit said, citing disapproving comments from
the chief executive of France's Total.
A Spanish court agreed last month to consider a Repsol
lawsuit against Chevron.
A Chevron spokesman said the San Ramon, California-based
company did not have an immediate comment on the U.S. action.
The lawsuit adds to a handful of high-profile legal battles
for Chevron in South America, including its year-long tussle in
Brazil following an offshore spill there and a two-decade
international fight over rainforest pollution in Ecuador.
At the center of the Argentina dispute is YPF's discovery in
late 2011 of the Vaca Muerta ("Dead Cow") formation, which
contains an estimated 23 billion barrels of oil equivalent.
Repsol had initiated, through YPF, negotiations with several
potential partners on Vaca Muerta, including Chevron, the
lawsuit said, but before a Chevron-YPF partnership could be
consummated, Argentina took steps in April to take over the
The case is Repsol SA v. Chevron Corp in U.S. District
Court, Southern District of New York, No. 12-cv-8799.