ExxonMobil to sell interest in Esso Thailand

Jan. 11, 2023

IRVING, Texas – ExxonMobil has reached an agreement with Bangchak Corporation to sell its interest in Esso Thailand that includes the Sriracha Refinery, select distribution terminals, and a network of Esso-branded retail stations, delivering on its commitment to strengthen value and overall competitiveness.

The transaction will be executed by ExxonMobil’s affiliate, ExxonMobil Asia Holdings Pte. Ltd, which holds 65.99% interest in Esso Thailand.

• Sale includes interest in Sriracha Refinery and Thailand network of Esso-branded retail stations  

• ExxonMobil to continue to supply finished lubricants and chemical products in Thailand 

• ExxonMobil Bangkok Global Business Center, exploration and production activities unaffected

“As we execute our strategy, ExxonMobil is focusing its investments on global production facilities to meet the world’s demand for lower-emissions fuels and high-performance products, while divesting assets where others see the potential for greater value,” said Karen McKee, president of ExxonMobil Product Solutions.

“We appreciate the talent and determination of our colleagues in Thailand who have safely provided reliable product supply to the Thailand and Greater Mekong markets for more than 125 years, and we thank them for their dedicated service.” 

ExxonMobil will continue to supply the Thailand market with branded finished lubricants and chemical products through a new company to be formed.

ExxonMobil’s upstream operations through its affiliate ExxonMobil Exploration and Production Khorat Inc., and ExxonMobil’s Bangkok Global Business Center, which employs about 2,000 people, will not be impacted.  

Click the link below to read the full press release