ExxonMobil looks to sell Argentina oil refinery, assets

ExxonMobil is looking to sell its Argentine refinery and service stations for US$800 million, reviving the plan after a first attempt three years ago, Argentine newspaper El Cronista reported. Citing unnamed sources close to discussions, the paper said possible buyers include Brazil’s Petrobras, BP-controlled Pan American Energy, Venezuela’s Petróleos de Venezuela S.A. (PDVSA) and Marcelo Mindlin, a local energy investor. ExxonMobil’s Esso Petrolera Argentina operates an 88,000-barrel per day refinery, the country’s third largest and a network of 90 self-owned and 500 franchised service stations with a combined 12% share of retail diesel fuel and gasoline sales. (September 17, 2010)