CGC buys Sinopec assets in Argentina

CGC buys Sinopec assets in Argentina

Corporate & Sovereign Strategy Loans Energy Gas Oil M&A Bonds Latin America South America Argentina

Argentine energy company Compañía General de Combustibles (CGC) said Wednesday that it has closed a deal to acquire the assets of China's Sinopec in Argentina, a second major deal over the past decade to increase its oil and natural gas production. The deal boosts CGC's oil and gas output to 55,000 barrels of oil equivalent (boe) per day from 34,000 boe per day, the company said in a securities filing. The deal "reaffirms" CGC's commitment to invest in Argentina, said Hugo Eurnekian, the company

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial