November 28, 2017 / 7:41 PM / a year ago

Sinopec to sell Argentina oil assets for up to $600 mln -source

BUENOS AIRES, Nov 28 (Reuters) - China’s Sinopec has decided to sell its oil assets in Argentina for $500 million to $600 million to Mexican company Vista Oil & Gas, a source with knowledge of the deal told Reuters on Tuesday.

Sinopec informed Vista Oil & Gas of its decision on Monday, according to the source, who asked not to be named because the deal was confidential. Sinopec also told competing bidders including Argentina’s state-controlled oil company YPF and private Argentine company Pluspetrol they had not been selected, the source said.

YPF, Pluspetrol, and Vista Oil & Gas declined to comment. Sinopec representatives in Argentina also declined comment. (Reporting by Eliana Raszewski; Writing by Caroline Stauffer Editing by Chizu Nomiyama)

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