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


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs