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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.
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Racing for hydrogen: How gas giants are vying to stay relevant
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Clean hydrogen could meet a quarter of the world’s energy needs by 2050
July 3, 2021
The global gas industry is in an existential race: either find a way to be part of the next generation of energy or risk getting supplanted by alternatives.
BP, Sinopec, Equinor ASA and Royal Dutch Shell are among the producers looking to hydrogen to help secure demand that otherwise may falter as decarbonisation speeds up. They want to utilise existing pipelines, storage tankers and fuel supply to make blue hydrogen, a process that uses natural gas but captures the carbon emissions and stores them.
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