Companies & Finance

EC approves Qatar Petroleum’s acquisition of Exxon’s Argentine assets

The European Commission has approved Qatar Petroleum's proposed acquisition of joint control over two of ExxonMobil’s subsidiaries in Argentina.
By Staff reporter 3 October 2018 0 32775

The European Commission has approved Qatar Petroleum’s (QP’s) proposed acquisition of joint control over two of ExxonMobil’s subsidiaries in Argentina, the commission said on Wednesday.

The acquisition relates to ExxonMobil Exploration Argentina and Mobil Argentina, which are wholly owned subsidiaries of Exxon.

In June, QP entered into an agreement with Exxon to become a 30% equity holder in the two subsidiaries, which hold interests in seven blocks in the Vaca Muerta shale play in the Neuquen Basin.

“The commission concluded that the proposed transaction would...