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Bridas Corp., owned by Cnooc and Argentina’s Bulgheroni family will pay BP $7.06 billion usd for the 60 percent it doesn’t already own of Pan American Energy.
Cnooc is adding to its March $3.1 billion acquisition of 50 percent of Bridas to expand China's access to Latin American resources. Pan American is Argentina’s largest crude exporter, producing about 240,000 barrels a day with proven reserves of 1.54 billion barrels.
