Source Pravda.Ru

Repsol lifted On News Of Argentine Export Quota Lift

Repsol YPF shares rose by as much as five percent yesterday on newspaper reports that Argentina, which accounts for two-thirds of production at Europe's fifth-largest oil company, has formally scrapped a limit on oil exports from the country.

The shares rose by 52 cents to 12.04 euros as of 1:10 p.m. at the Madrid stock Exchange, taking the stock's gain to eleven percent in the last four sessions.

The Argentine government had previously set a thirty six percent limit on total oil production, to secure local supply and keep prices stable.

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