Retail fuels in brief: ExxonMobil continues to withdraw from fuels retail
ExxonMobil leaves Thailand’s downstream oil market as it agreed with local refiner Bangchak Corporation to sell its 65.99% stake in Esso Thailand. The deal includes Sriracha refinery, the local Esso service station network, and various pieces of supply infrastructure. ExxonMobil has been divesting its retail assets worldwide for years. But, contrary to most countries the company exited during the last decade, Thailand is still a growing market. In our report, we examine why the Oil Major leaves Thailand and how this fit into its global strategy.