Sinopec seeking buyers in Argentina: report
Argentina Sinopec logo
According to Reuters, the Chinese heavyweight has already presented its holdings to several potential buyers, including Angolan NOC <a href=’https://theenergyyear.com/companies-institutions/<a href=’https://theenergyyear.com/companies-institutions/sonangol/’>sonangol/’>Sonangol, Russia’s Rosneft and fledgling Mexican company Vista Oil & Gas, as well as local operator Compañía General de Combustibles.
Sinopec has been experiencing difficulties at its Santa Cruz province assets, worth USD 750 million-1 billion. In July 2017, the company said that it was reconsidering its commitment to invest USD 300 million in Santa Cruz due to difficulties related to costs in Argentina and disputes with labour unions.
The company entered Argentina in 2010 when it paid USD 2.45 billion to acquire Occidental Petroleum’s operations.
Recent Posts
Arrow Exploration spuds new well in Colombia
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas makes discovery off Suriname
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japan’s JERA slates $32 billion for LNG, renewables, new fuels
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron planning UK North Sea exit
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
Seatrium wins yet more FPSO work in Guyana
Seatrium has been awarded a contract by SBM Offshore for the topsides fabrication and integration of an additional FPSO vessel… Read More
Diamond Offshore seals $350-million Gulf of Mexico deal
Diamond Offshore has secured a USD 350-million extension for an ultra-deepwater drillship deployed for Anadarko Petroleum in the US Gulf… Read More