YPF Compensation Agreement Near

Argentina’s government, Spain’s Repsol and Mexico’s Pemex have reached an agreement in principle regarding compensation for the nationalization of oil producer YPF last year, Pemex says. Details were not immediately available, and Argentina and Repsol were not able to be reached for comment late Monday. Pemex says the agreement will set the amount of compensation owed, and the parties will drop legal action over the 2012 expropriation. The government passed legislation in April 2012 nationalizing 50.1% of YPF’s shares public property.