Published 08th September, 2011
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.