Oil giant ExxonMobil may be in a well-publicized spat with the Venezuelan government, yet that has not stopped an Argentine-Brazilian consortium from bidding for the firm’s Latin American assets. Yesterday it was reported that Argentine conglomerate Eurnekian in association with Brazil's GP Investimentos offered $2 billion to ExxonMobil: [Argentine newspaper Clarin] cited Eurnekian associate Ernesto Gutierrez, who spoke with a reporter following a meeting at Government Palace with Argentine President Cristina Fernandez de Kirchner.
"We told President Cristina Kirchner about the offer we are making," Gutierrez was quoted as saying. "We are going in association with the Brazilian group GP Investimentos," he added.
Reports that Exxon wants to sell its refinery and service station assets in Brazil, Argentina, Chile, Uruguay, and Paraguay surfaced last year, although company officials have declined to comment on the matter.
Despite the problems between ExxonMobil and the Chavez administration, Reuters mentioned that Venezuelan state oil company Petroleos de Venezuela (PDVSA) is also interested in buying ExxonMobil’s Latin American assets.
Thus far, the price of a barrel of oil has shot up by nearly a dollar to $96.38 in trading today due to anxiety over problems in Venezuela and Nigeria according to AFP.
Sources- the Latin Americanist, AFP, MarketWatch, Reuters
Image- Los Angeles Times
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