PEMEX Boosts Participation in Spain\u27s Repsol, Prompting Some Nationalist Concerns in Spain

It\u27s not uncommon to see the state-run oil company PEMEX at the center of controversies regarding the designation of energy resources as the national patrimony of the nation\u27s citizens. This debate has often been in connection with Mexico\u27s crude oil, natural gas, and PEMEX itself. In late August, PEMEX found itself on the other side of the conflict when it teamed up with Spainbased construction and real estate company Sacyr Vallehermoso to boost their share of Spanish giant Repsol YPF SA. The two companies acknowledged that their intention was to restructure Repsol\u27s management. Even though Spain\u27s Constitution does not have a provision reserving energy resources as national patrimony, questions arose on whether Repsol, a symbol of Spain around the globe, would remain sufficiently Spanish