Rhône Energies, a joint-venture of the energy infrastructure company Entara and the Singapore-based commodity trader Trafigura, has entered into exclusive negotiations to acquire the 7 Mt/year (140,000 bbl/d) Fos-sur-Mer refinery and the Toulouse and Villette de Vienne terminals from Esso, a subsidiary of ExxonMobil for an undisclosed amount. The deal, which is subject to regulatory approvals, could close by the end of 2024.
Under the terms of the proposed acquisition, Trafigura would enter into a minimum 10-year exclusive crude oil supply and product offtake agreement, including ownership of crude oil and product stocks in tank.
The refining capacity is 1.2 mb/d in France (end-2022), down from 2 mb/d in 2005. In addition to Fos-sur-Mer, ExxonMobil operates a second refinery: Gravenchon (239 kb/d). The largest player in the French refining sector is TotalEnergies, with a refining capacity of 581 kb/d.
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