Insight
Karlsruhe MiRo: ExxonMobil sells its stake
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Report summary
In a 20th October press release, midstream oil and commodity trading firm Alcmene announced the acquisition of a 25% share in Karlsruhe MiRo refinery, previously owned by ExxonMobil’s German subsidiary Esso Deutschland. The 322 kb/d refinery is one of Germany's largest, and is the key source of refined product supply for the South-West Germany region. For Liwathon Group, Alcmene's parent company, the deal marks their entry into refining operations. Private investment is increasingly playing a part in European refinery ownership as oil majors look to consolidate their downstream portfolios. This Insight explores the deal in more detail.
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