On the surface, BP’s recently announced Argentine merger does not look like a great deal. The supermajor gets no cash and will no longer call the shots at Argentina’s largest private oil and gas producer. But some think it is a smart move.
“BP now has less influence in the boardroom, but more political clout in Buenos Aires,” a Buenos Aires-based lawyer at an energy-focused firm told Wildcat on Tuesday.
BP will merge Pan American Energy (PAE) – of which it owns 60% – with local...
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