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Saudi Arabian National Oil Company acquires Chile’s Petrobras: operations subject to FNE



Oil company Aramco plans to launch a brand of the same name in both Chile and South America. He emphasized that Japan and the region are markets with potential and attractiveness.

aramco ~Saudi Arabia’s national oil company and one of the world’s leading integrated energy and chemical companies~ Agreed to purchase 100% of the shares of Esmax Distribución Spa in Chile, Private equity company.

In detail, Esmax Distribución is a company that supports Petrobras in our country.

This transaction was subject to certain customary conditions. including regulatory approval by the National Economic Prosecution Service (FNE); Aramco said in a statement.

He indicated that the planned acquisition of Esmax would be his first “downstream” retail investment (processing, refining, distribution and marketing of petroleum products) in South America, according to an EFE Agency report.

aramco Recognizing the “potential and attractiveness of these markets” At the same time, we will advance our strategy to strengthen downstream value chains. ”

Aramco Downstream President Mohamed Al Qahtani claimed in a statement that the agreement: This is ‘another milestone’ in the growth strategy of Aramco’s presence in the downstream sector worldwide and expansion of retail stores.

On top of that, “Building a platform to launch the Aramco brand in Chile and South America in general.” Unleash huge potential to tap new markets for your products. ”

Esmax is a leading company in the distribution of fuels and lubricants in Chile.and its national presence Includes service stations, airport operations, fuel supply terminals, and lubricant compounding plants.

Source: Biobiochile

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