Spanish oil company Repsol (REP), which as a relatively disciplined approach to investment, is getting heat from one of its biggest investors for not being more disciplined, threatening the dividend. Spanish construction firm Sacyr-Vallehermoso SA which makes almost $200 million per quarter off Repsol dividends, is pushing to have Repsol Chairman Antoni Brufau removed, according to a Dow Jones Newswires story this morning. DJ says Sacyr won’t comment on the allegations. Another DJ article this morning mentions that Repsol is considering bringing in a partner to handle the enormous costs of developing a recent oil discovery in Brazil’s “subsalt.” Repsol shares this morning are up 21 cents, or .8%, at $28.09.
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