BP’s $7.1 Billion Argentina Sale to Cnooc Is at Risk of Collapse

BP Plc’s $7.1 billion deal to sell Argentine crude producer Pan American Energy LLC is at risk of collapse, jeopardizing China’s biggest energy acquisition this year, according to a person with knowledge of the matter.

BP’s agreement to sell its 60 percent stake to partner Bridas Corp., a company owned by Chinese oil producer Cnooc Ltd. and Argentina’s billionaire Bulgheroni family, has hit opposition from politicians and may not be completed when the accord expires in November, the person said, declining to be identified as the details are private.