BP Continues Latin American Divestments With US$7.06bn PAE Stake Sale

British major BP 's divestment programme continues apace. On November 28 the company announced that it had agreed to sell its 60% stake in Argentina's Pan American Energy (PAE) to Bridas Corporation , a 50:50 China National Offshore Oil Corporation (CNC)- Bridas Holdings joint venture (JV) for US$7.06bn, bringing its total divestments to about US$21bn.

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