Policy & Regulation

Sinopec runs for the exit in Argentina

Sinopec Argentina’s management has complained of having to appease Patagonia’s notoriously stubborn unions and is looking to sell its assets Sinopec Argentina’s management has complained of having to appease Patagonia’s notoriously stubborn unions and is looking to sell its assets.
By The Wildcat 12 October 2017 0 27940
Workers in Neuquén, Argentina. (PA)

Is Sinopec feeling the seven-year itch in Argentina? The company, which acquired the Argentine assets of Occidental Petroleum for $2.45 billion in December 2010, is now seeking to sell up, Reuters reported on Monday. 

It is no secret that Sinopec, which is a subsidiary of China Petrochemical Corp., is fed up of dealing with Patagonia’s notoriously stubborn unions. Sinopec Argentina’s corporate affairs manager, José Esteves, complained of a “costo criollo” in Santa Cruz province back in July. This could be...