Aramco Completes Acquisition of Esmax
03.02.2024 By Tank Terminals - NEWS

March 2, 2024 [Aramco]- Aramco, one of the world’s leading integrated energy and chemicals companies, has successfully completed the acquisition of a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile.

 

Esmax has a national presence that includes retail fuel stations, airport operations, fuel distribution terminals and a lubricant blending plant.

The transaction, which was first announced in September 2023, represents Aramco’s first Downstream retail investment in South America, illustrates the attractiveness of this market, and supports the Company’s strategic goal to strengthen its Downstream value chain.

Yasser Mufti, Aramco Executive Vice President of Products & Customers, said: “We are delighted to conclude the acquisition of Esmax and look forward to working with the outstanding team on the ground in Chile to achieve our shared ambitions. Aramco aims to be a primary global retail player and this deal combines our high quality products and services, including Valvoline lubricants, with the experience and quality of an established operator in Chile.”

 

Free Trial: Access 13,300 Tank Terminal and Production Facilities

13,300 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

UAE Invests Billions in AI to Diversify Economy Beyond Oil
11.13.2024 - NEWS
November 13, 2024 [Oil Price]- The United Arab Emirates’ state-owned energy giant Abu Dhabi Nat... Read More
Gulf Energy Transition: Assessing Saudi and Emirati Goals
11.13.2024 - NEWS
November 13, 2024 [The Washington Institute]- On October 29, during Saudi Arabia’s annual Futur... Read More
How will The Energy Sector Fare Under Donald Trump?
11.13.2024 - NEWS
November 13, 2024 [Investing Daily]- The energy sector experienced a notable boost following Dona... Read More
PNOC, Pertamina Partner on LNG Infrastructure, Supply Chain
11.13.2024 - NEWS
November 13, 2024 [Manila Bulletin]- State-run Philippine National Oil Company (PNOC) has signed ... Read More