ExxonMobil to sell downstream business in Central America

ExxonMobil announced that it is selling its downstream businesses in Belize, El Salvador, Guatemala, Honduras, Nicaragua and Panama to Puma Energy for an undisclosed amount. The deal also includes the Manref Refinery in Managua, Nicaragua, and a 65% stake in the RASA refinery in El Salvador. ExxonMobil’s business support center in Guatemala and its lubricants business are not included in the deal. The sale, which is subject to regulatory approval, is expected to close in the second half. Puma Energy, which is a subsidiary of Dutch commodity trading company Trafigura Beheer BV, operates in 23 countries. Last year, the company acquired businesses from BP in southern Africa. (March 30,2011)