Bangchak to acquire a 65.99% stake in Esso Thailand from ExxonMobil for $1.1bn.

Bangchak, a Thailand-based energy company, agreed to acquire a 65.99% stake in Esso Thailand, a firm engaged in the refining and marketing of petroleum products, from ExxonMobil, an international petroleum and petrochemical company, for $1.1bn. “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. 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," Karen McKee, ExxonMobil Product Solutions President.