ExxonMobil sells certain downstream assets to Bridas

ExxonMobil Corp. will sell certain oil refining and fuel commercialization assets to Argentina’s Bridas Corp., with the sale to be closed in the second half of 2011. The sale includes the Campana Refinery in Argentina, a lubricant plant in Campana, three fuel distribution terminals in Campana, San Lorenzo and Galvan cities and more than 500 gas stations in Argentina. In addition, the deal includes 220 gas stations in Paraguay, and Uruguay, jet fuel and marine fuel businesses and the exclusive distribution rights to Mobil lubricants in Argentina. No financial information about the sale was disclosed. Bridas is a joint venture of the Argentine Bulgheroini family and China National Offshore Oil Corp. (CNOOC). (March 2,2011)