Monday, April 06, 2009 11:48:45 AM
South American oil giant takes over ExxonMobil interests
The Cambodia News.Net
Sunday 10th August, 2008
Brazil's state-owned oil and gas giant Petrobras has signed an agreement worth US$400 million to buy ExxonMobil's stakes in Esso Chile Petrolera.
The announcement has come months after Petrobras failed in its bid to buy ExxonMobil's assets in Brazil.
In April, ExxonMobil sold its assets to Cosan, the world's biggest sugar cane processor for 826 million dollars.
Petrobras will acquire ExxonMobil's fuel distribution business in the retail, industrial and aviation markets.
Petrobras exported crude oil, liquefied petroleum gas, natural gas, petrochemicals and lubricants worth nearly 1.5 billion dollars in 2007.
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