Eni Buys Exxon Mobil Downstream Segment in Austria

Italian oil and gas major Eni announced today a deal to purchase Exxon Mobil’s (XOM) downstream business in Austria. The signed sale and purchase agreement is for the shares of Mobil Oil Austria GmbH and Esso Austria GmbH to Agip Austria GmbH and Eni International BV. The purchase price was not revealed.

The acquisition includes 135 service stations and the Industrial & Wholesale business, which adds on another 36 Esso retail service stations. Additionally, the purchase includes the Vienna and Linz airport aviation business, as well as the 28.6% share in the joint venture for logistical assets at the Vienna airport. Furthermore, Exxon Mobil is divesting its supply and distribution business in the deal, together with its 33.3% involvement in the Salzburg terminal JV.

Not included in the purchase is Exxon Mobil’s lubricants and specialties business.

Eni currently conducts downstream activities in Austria through the local subsidiary Agip Austria. The agreement is subject to an approval process and has not been wholly finalized.



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

Whitepapers

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...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs