In a deal that will increase its global oil production and reserves, the Chinese state-owned energy company, Cnooc Ltd., will purchase half of Bridas Corp., Argentina’s second-largest oil producer.

Cnooc announced plans Sunday to pay $3.1 billion for a 50 percent stake in Bridas. Bridas is currently a wholly owned subsidiary of Bridas Energy Holding Ltd. and could have its name changed once the deal is complete.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]