19 April 2024
BP’s Pan American Energy sale falls through
Publication date: 07 November 2011
Gas Strategies Group
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BP’s proposed sale of its 60% stake in Pan American Energy (PAE) to Bridas Corporation – an equal joint venture between China’s CNOOC and Argentina’s Bridas Energy Holdings – has fallen through. BP originally announced the $7 billion sale of its stake in PAE in November visual_editor010, as part of its divestment programme to meet expected Macondo oil spill liabilities.