Report: Rosneft interested in Sinopec’s facilities in Argentina

MOSCOW, Oct 9 (PRIME) -- Several Russian companies, including state-run oil major Rosneft, as well as companies from the U.S., Europe, Africa and Latin America are interested in acquiring Argentina-based assets of China’s Sinopec, Reuters news agency reported citing sources on Monday.

A source said that the oil and gas refining facilities worth U.S. $750 million to $1 billion are mainly located in the Santa Cruz province. They were bought by Sinopec in 2010 to diversify the portfolio, the agency reported.

Another source said there are about 15 bidders for the facilities, including Mexican Vista Oil & Gas.

In September, Sinopec said its proceeds from the Argentina-based plants had fallen sharply due to worsening economic conditions and social unrest, including labor conflicts.

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