(Bloomberg) — Exxon Mobil Corp. completed the sale of its Fos oil refinery in France, according to the buyer, a consortium that includes Trafigura Group.
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The sale, announced in April, reduces Exxon’s refining capacity in Europe to around 1.1 million barrels a day, according to data compiled by Bloomberg. That includes the company’s stake in Germany’s Miro plant, which it has also agreed to sell.
With the Fos deal complete, Exxon remains the region’s second-biggest oil processor, after TotalEnergies SE.
The 140,000-barrel-a-day Fos refinery in southern France was Exxon’s only oil-processing asset in the Mediterranean market. It has been bought by Rhone Energies, which is owned by Entara LLC and Trafigura. The new operator will continue to supply fuels to Exxon under a long-term deal, according to a statement from Trafigura.
Rhone Energies paid $130 million for the Fos refinery and an additional sum for crude oil and petroleum product inventories at the site, according to a statement from Esso SAF.
–With assistance from Archie Hunter and Francois de Beaupuy.
(Updates with additional information on price paid for the asset in final paragraph.)
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Publish date : 2024-11-01 09:09:00
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