ExxonMobil buys stake in OldelVal

ExxonMobil buys stake in OldelVal

Equity Gas Argentina

ExxonMobil has agreed to buy a 21% stake in the Argentine natural gas pipeline company Oleoductos del Valle (OldelVal) from Pampa Energía for $36.4m. The sale, which is still waiting for regulatory approval, leaves Pampa with 2.1% of OldelVal, the Argentine energy company said in a statement. Pampa added that it expects to clear roughly ARS700m ($19.6m) after it closes the deal. Pampa had owned 23.1% of OldelVal since December last year. OldelVal operates the main access ways to the Allen-Puerto

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