ExxonMobil has reached an agreement with Bangchak Corporation to sell its interest in Esso Thailand that includes the Sriracha Refinery, select distribution terminals, and a network of Esso-branded retail stations, delivering on its commitment to strengthening value and overall competitiveness. The transaction will be executed by ExxonMobil’s affiliate, ExxonMobil Asia Holdings Pte. Ltd, which holds a 65.99% interest in Esso Thailand.
ExxonMobil will continue to supply the Thailand market with branded finished lubricants and chemical products through a new company to be formed. ExxonMobil’s upstream operations through its affiliate ExxonMobil Exploration and Production Khorat Inc., and ExxonMobil’s Bangkok Global Business Center, which employs about 2,000 people, will not be impacted.
ExxonMobil remains focused on safe and reliable operations and ensuring compliance with commitments made to customers and relevant government agencies and regulators.
The transaction is expected to close in the second half of 2023, subject to standard conditions and applicable legal requirements, including approval from regulatory authorities.
