BP announces joint venture with Argentinian firm

BP has announced a joint venture with a firm in Argentina to form a new energy company. Its agreement with Bridas Corporation will combine their interests in oil and gas producer Pan American Energy (PAE) – the second largest in the country – and refiner Axion Energy. BP said the new company, Pan American Energy […]

Buyer pulls out of BP’s $7bn South America sale

BP’s sale of its South American oil company has fallen through after the buyer pulled out citing “legal reasons”. Bridas Corporation sent a letter to BP this weekend to cancel the $7.06billion deal to buy up BP’s 60% stake in Pan American Energy, the second largest producer of hydrocarbons in Argentina. Bridas, which owns the […]