Petrobras has completed the acquisition of ExxonMobil’s stakes in Esso Chile Petrolera and other associated Chilean companies relative to the fuel business in the retail, industrial, and aviation markets. The acquisition will give the Brazilian company a 16% share of the Chilean retail market in the segment, in addition to 7% of the industrial area. With the deal, Petrobras now owns a network of 8315 points of sale in six South American countries.

The deal is composed of:

230 service stations, of which 109 wholly owned. Nearly half of the stations have convenience stores; Fuel distribution and sales in 11 airports; Six fuel distribution terminals, four of which wholly owned and two in joint ventures; 22% of the stakes in the Sociedad Nacional de Oleoductos and 33.3% of the stakes in the Sociedad de Inversiones de Aviación; An estimated sales volume of some 170,000 cubic meters per day in 2008. ExxonMobil’s chemical product, lubricant, and special product businesses were not part of the deal.

In Chile, Petrobras will focus on maintaining the profitability of the service station network, on the major customer segment, on trading maritime fuels, and on enhancing the aviation segment to new air companies. With the acquisition of these distribution and logistics companies, Petrobras ensures high-quality services to the consumers, accumulating the excellence in customer service and the technical qualifications of the 1410 local employees.

The deal reinforces Petrobras’ image abroad, particularly in Chile, a country to which, in 2008, it exported oil, LPG, natural gas, petrochemicals and lubricants, for a total of $1.3 billion.

Tags: Petrobras