Repsol YPF's Latin American Assets Going To China?



China National Petroleum Corporation and other Chinese oil and gas companies have "expressed interest" in Repsol YPF "upstream" assets in Latin America, according to the South China Morning Post.

The assets are reported to be worth an estimated $10 billion.

Repsol has so far denied discussions to relinquish its Latin American assets. "We haven't had any contact with any of those companies," a Repsol spokesperson said to reporters.

Repsol has had its share of recent setbacks in Latin America.

In October 2007, after four years of "rising costs, difficult politics and lousy contract terms," Repsol began cutting back at the Reynosa-Monterrey block in Mexico, according to a report by Dow Jones Newswires.

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