San Miguel Corp. to buy shares of ExxonMobil's Malaysian affiliates

ExxonMobil Corp. affiliates and San Miguel Corp. have agreed on the sale of ExxonMobil’s interest in three Malaysian downstream businesses.

The agreements include ExxonMobil’s 65% stake in Esso Malaysia, which operates the 88,000 b/d Port Dickson refinery, and ExxonMobil Malaysia Sdn. Bhd. and ExxonMobil Borneo Sdn. Bhd., both of which are involved in the retail, industrial, and wholesale and aviation fuels businesses.

According to Malaysia’s Business Times, the transaction totaled $610 million, which was split $206.02 million for Esso Malaysia, and $403.98 million for ExxonMobil Malaysia and ExxonMobil Borneo.

ExxonMobil said the transactions will have no impact on its Malaysian upstream interests, where it operates as through its ExxonMobil Exploration & Production Malaysia Inc. affiliate.

ExxonMobil also said the agreement excludes the marketing and sales of chemicals, lubricants, and asphalt products, as well as the operations of the ExxonMobil Kuala Lumpur Business Support Center.

Contact Eric Watkins at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...