CNOOC says terminates Pan American deal with BP

Updated: 2011-11-07 14:13

(Agencies)

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China's biggest offshore oil producer CNOOC Ltd said on Sunday its 50 percent-owned unit Bridas Energy Holdings has determined to terminate a deal to buy BP Plc's 60 percent stake in Argentina-based oil and gas group Pan American Energy LLC (PAE).

In a filing with the Hong Kong stock exchange, CNOOC said Bridas Energy sent to BP a letter on Nov 5 to terminate the deal, which was initially signed in November last year.

It gave no further details.