Sinopec to Sell Argentina Oil Assets for up to $600 Mln

China's Sinopec has decided to sell its oil assets in Argentina for $500 million to $600 million to Mexican company Vista Oil & Gas, a source with knowledge of the deal told Reuters on Tuesday.

 

Sinopec informed Vista Oil & Gas of its decision on Monday, according to the source, who asked not to be named because the deal was confidential. Sinopec also told competing bidders including Argentina's state-controlled oil company YPF and private Argentine company Pluspetrol they had not been selected, the source said.

 

YPF, Pluspetrol, and Vista Oil & Gas declined to comment. Sinopec representatives in Argentina also declined comment.


(Reporting by Eliana Raszewski; Writing by Caroline Stauffer Editing by Chizu Nomiyama)