Spanish oil major Repsol YPF SA told Spain’s Comisión Nacional de Valores that it will delist its American Depository Shares from the New York Stock Exchange in order to cut costs and ease the administrative burden.According to the El País daily, U.S. stock exchange regulator SEC recently asked Repsol for five separate reports about its crude oil reserves in each country it operates in.In a previous instance, the SEC asked for exhaustive explanations about Repsol’s business in Cuba and Iran.">Spanish oil major Repsol YPF SA told Spain’s Comisión Nacional de Valores that it will delist its American Depository Shares from the New York Stock Exchange in order to cut costs and ease the administrative burden.According to the El País daily, U.S. stock exchange regulator SEC recently asked Repsol for five separate reports about its crude oil reserves in each country it operates in.In a previous instance, the SEC asked for exhaustive explanations about Repsol’s business in Cuba and Iran.">

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Repsol abandons New York Stock Exchange

Spanish oil major Repsol YPF SA told Spain’s Comisión Nacional de Valores that it will delist its American Depository Shares from the New York Stock Exchange in order to cut costs and ease the administrative burden.

According to the El País daily, U.S. stock exchange regulator SEC recently asked Repsol for five separate reports about its crude oil reserves in each country it operates in. In a previous instance, the SEC asked for exhaustive explanations about Repsol’s business in Cuba and Iran.

The company, scheduled to begin exploratory drilling on the Cuban side of the Florida Strait, is also the target of a House bill launched by Rep. Vernon Buchanan (R-Florida) that would sanction foreign oil companies that drill in Cuban waters.

Source: www.cubastandard.com/2011/02/10/

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