July 1, 2021 |
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
Argentine energy company makes second major acquisition after buying assets from Petrobras in 2015