Total acquires stake in ExxonMobil Vietnam

Total Raffinage Marketing S.A. Total Raffinage Marketing S.A. of France has signed a deal to buy a 100% stake in ExxonMobil Vietnam Holding Co. Ltd. from ExxonMobil Corp., the Thoi Bao Kinh Te Vietnam newspaper reported. ExxonMobil will transfer its lubricant blending plant located in the southern province of Dong Nai and a lubricant distribution network across Vietnam to Total. Once the transfer is completed, Total will top the list of lubricant traders in Vietnam. Total has explored and produced oil and gas as well as distributed liquefied petroleum gas and lubricants in the Southeast Asian country since 1980.The French firm currently has seven subsidiaries, with more than 400 employees in Vietnam. (October 2, 2009)