Exxon sells in Malaysia
ExxonMobil has sold its interests in its Malaysian downstream operations, but has kept hold of its upstream activities in the country.
The deal sees Philippines-based San Miguel take ExxonMobil's 65% stake in Esso Malaysia Berhad (EMB) as well as it's wholly-owned ExxonMobil Malaysi Sdn Bhd (EMMSB) and ExxonMobil Borneo Sdn Bhd (EMBSB) retail and marketing operations.
EMB handles the Esso refinery in Port Dickson with a production capacity of 88,000b/d. San Miguel will also take on equity share of 10 fuel distribution terminals and 560 branded fuel stations, plus the ExxonMobil Industrial & Wholesale and aviation fuel operations.
ExxonMobil has had a presence in Malaysia since 1893 and will maintain its upstream activities including crude, lubricant, asphalt, wax and chemical productions as well as its Kuala Lumpur Business Support Centre.
Published 8th September, 2011
