Shell seeks modifications to Mosconi sale
Privatization of Argentina's Petroquimica General Mosconi (PGM; Buenos Aires) got under way at the end of last years with three companies submitting technical bids. The interested parties are Shell Compania Argentina de Petroleo SA, Diamond Shamrock, and Panam - a group of local companies including Perez Companc, Laboratorios Phoenix, and Quitral. The technical bids include terms of reference and plans for PGM. Shell has sent a letter to the minister in charge of privatization saying it would not present its economic bid, due January 28, unless changes are made in the sale concerning feedstock supply contracts with state oil group YPF. Shell is concerned about the impact of YPF, which supplies PGM most feedstocks. Tender conditions state YPF will retain 30% of PGM, which will be renamed Petroquimica Platense, and will be the exclusive supplier of feestocks and one of the main buyers of product. Government authorities say no decision has been taken relating to Shell's request to change the contract, but they are reviewing the situation. Other bidders made no objections about the proposed conditions. The government is selling 64% of PGM, YPF will retain 30%, and the remainder will go to the workforce.
- OSTI ID:
- 7085884
- Journal Information:
- Chemical Week; (United States), Journal Name: Chemical Week; (United States) Vol. 152:1; ISSN CHWKA9; ISSN 0009-272X
- Country of Publication:
- United States
- Language:
- English
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