Pan American Energy has struck a deal to buy an oil refinery and nearly 450 service stations from Esso, the Argentine unit of Exxon Mobil Corp (XOM.N), a person familiar with the deal said on Tuesday. Pan American is owned by Bridas Corp, which is co-owned by China's CNOOC (0883.HK) and Argentina's Bulgheroni family. "Today (Tuesday) the deal will be announced," the source told Reuters, asking to remain anonymous because the talks are private. Local press also reported the deal, quoting unnamed sources, and valued it at $650 million to $700 million.
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