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dipsydoodle Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-15-10 06:03 PM
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Chinese oil firm buying 50% stake in Argentine group
China National Offshore Oil Corporation (CNOOC) is paying $3.1bn (£2bn) for a 50% stake in Argentine oil and gas group Bridas Corporation.

CNOOC president Yang Hua said Bridas was "a very good beachhead for us to enter Latin America".

Bridas has proven oil reserves of 636 million barrels, with production activities across Argentina, Bolivia and Chile.

http://news.bbc.co.uk/1/hi/business/8567440.stm
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protocol rv Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Mar-15-10 09:43 PM
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1. Bridas doesn't have that much technology
Put Pan American, the company they own together with BP, does. I bet BP will now sell Pan Am to the Chinese. Woe to the poor Argentinian workers, the Chinese have a terrible reputation here in Venezuela, nobody wants to work for them.
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