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Eduardo Eurnekian, owner of Aeropuertos Argentina 2000 SA and chairman of Corporación América, speaks during an interview in New York in 2014. | Bloomberg/Scott Eells
Argentina’s Cia General de Combustibles SA has acquired Sinopec Argentina Exploration and Production, giving the producer additional oil output from the southern part of the country.
CGC, majority owned by billionaire Eduardo Eurnekian’s Corporación América International, closed the deal for the local unit of China Petroleum & Chemical Corp on Wednesday, the Buenos Aires-based company said in a statement. Terms weren’t disclosed. The purchase includes Sinopec’s assets in southern Argentina’s San Jorge and Cuyana basins, and allows CGC to boost daily production by 35 percent compared to levels in late 2019.