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BUENOS AIRES, May 4 () -- Argentine President Cristina Fernandez Friday named Miguel Galuccio, an engineer and former director of the multinational oilfield services supplier Schlumberger, as general manager of newly nationalized oil company Yacimientos Petroliferos Fiscales(YPF).The head of state announced the appointment while signing into law the bill on nationalizing Spanish-owned subsidiary Repsol YPF.The Argentine Congress overwhelmingly voted late Thursday to pass the bill.Galuccio, 43, worked at YPF in the 1990s and headed until recently the Integrated Project Management (IPM), a unit of Schlumberger.He is an expert in the area of well placement and perforation and has undertaken projects for YPF in southern Argentina, the United States and Indonesia."YPF will have a totally professional profile, which does not mean it won't have political conduct," Fernandez said, adding that the interests of major companies should be aligned with the interests of the state.Fernandez thanked opposition parties for their support to her government's proposal to expropriate a majority stake in YPF on the grounds that the country's largest oil company was underperforming, thus forcing the nation to import oil.Fernandez invited companies around the world to work with YPF to forge a modern and competitive company.Spain's Repsol has demanded some 10.5 billion U.S. dollars in compensation for the takeover, but Argentina says the company carries nearly that much in debt. Related:Argentine congress OKs controversial oil company nationalizationBUENOS AIRES, May 3 () -- The Argentine Congress on Thursday overwhelmingly approved the controversial plan to nationalize previously Spanish-owned oil company YPF.Following the approval by the Senate last week, the lower house passed the plan by a vote of 207-32, clearing the way for Argentine President Cristina Fernandez de Kirchner to put the nationalization into law.? Full storySpanish PM criticizes Argentina's decision to take over Spanish subsidiary companyBOGOTA, April 19 () -- Argentina's decision to take over local oil company YPF, a subsidiary of Spain's Repsol, is an "injustice," visiting Spanish Prime Minister Mariano Rajoy said here Thursday.Argentina has recently announced that it would expropriate 51 percent of Repsol's shares in YPF, on the grounds that it had failed to invest enough in the company.? Full storyL.America shows mixed reactions to Argentina's oil firm takeoverMEXICO CITY, April 17 () -- Latin American countries on Tuesday reacted mixedly to Argentina's proposed nationalization of Spanish-owned oil company Repsol YPF, with some cheering and some condemning.The most positive reaction reportedly came from Haroldo Lima, head of Brazil's National Petroleum Agency, who hailed the move as "excellent news for Latin America."? Full story
KUNMING, April 21 () -- Sixty-eight of 129 children hospitalized after a suspected case of food poisoning at a primary school in southwest China's Yunnan province remain in hospital on Saturday, local authorities have said.Around 7:50 a.m. Friday at the Ale Primary School in Luxi county, the students began to suffer headaches, vomiting and diarrhea after having breakfast at school, according to the local government of Luxi.Sixty-one students have checked out of hospital and the rest, with their symptoms already disappeared, are expected to leave in two to three days, said Zhu Shujie, a doctor at the Luxi County People's Hospital.Further investigation in the incident is underway.
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