BP: Talks with Bridas On Argentina Deal Continue

LONDON (Dow Jones Newswires), Sep. 30, 2011

BP said Friday that talks with Argentina's Bridas Corp. over a deal to sell BP's stake in Pan American Energy continue.

Bridas is a joint venture between, China National Offshore Oil Company and Argentina's Bulgheroni family.

The $7.1 billion deal to buy BP's Pan American stake was initially agreed on Nov. 28 2010, to be followed by a 12 month period to finalize details and obtain regulatory approval, said a BP spokesman.

The 12 months is not an absolute deadline and talks could be extended if both parties wished, he added.

He declined to comment on a report that Argentinian politicians are threatening to block the deal.

Copyright (c) 2011 Dow Jones & Company, Inc.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours