CGC oil company lost $24.2 million in the first half

Compañía General de Combustibles (CGC) lost in the first half of the year 1.77 million pesos ($24.2 mn), as reported in a note to the National Securities Commission. CGC is the leader in gas production in Argentina’s Southern Basin and is the co-controlling shareholder of the largest gas transportation network in the north and centre-west of the country (TGN, Transportadora de Gas del Norte), with connections to Chile, Bolivia and Brazil. Its specialization is the exploration and production of hydrocarbons (upstream) in the Austral Basin.

Source: Ámbito