Argentina: YPF will seek to invest in Petrobras

Argentina’s state oil company, YPF, has approached several rivals in hopes of presenting a joint proposal to purchase a number of assets which Brazilian oil giant Petrobras has recently put up for sale.

Petrobras owns several service stations, one refinery and several oil wells in the Patagonia region, with a combined value of approximately. $1.2 billion dollars.

Four Argentinian oil companies have been invited by the oil behemoth to present purchase offers: These include state company YPF, Pan American Energy (a joint venture by the Bulgheroni bros., China’s CNOOC and Britain’s BP), Pluspetrol and Tecpetrol.

The companies have a deadline of August 15th for presenting their proposals.

Source: Argentina Shale

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