It is not surprising that China has become a major participant in the Argentine energy and natural resources sector. More than 100 international agreements have been signed between China and Argentina since 1947. China and Argentina have become strategic partners beyond their traditional international trade of electronics and agricultural commodities.
In February 2011, CNOOC formed a 50-50 joint venture company (Pan American Energy) with Bridas Energy Holding for a consideration of approximately US$3.1 billion.
In December 2010, Sinopec acquired the Argentine subsidiary of OXY for US$2.45 billion. A number of other independent Chinese oil and gas companies have operations in Argentina. Rare earth, iron and precious metals mining are also gaining the attention of Chinese companies.
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Justo Norman is a partner at Maciel Norman & Asociados, a firm in Buenos Aires. He can be contacted on +54 11 4813 2044 or by email at jnorman@mna.com.ar
Mariana Ardizzone is a partner at Maciel Norman & Asociados. She can be contacted on +54 11 4813 2044 or by email at mardizzone@mna.com.ar
