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Saudi Aramco Acquires ESMAX Distribution Company in South America

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Saudi Aramco Acquires ESMAX Distribution Company in South America

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Introduction

Saudi Aramco has recently made an agreement to fully acquire ESMAX Distribution Company (SBE) from Southern Cross Group, pending regulatory approvals and other customary conditions.

Expansion into South America

This marks Saudi Aramco’s first venture into the retail and marketing business in South America, which offers promising and attractive markets.

Strengthening the Value Chain Strategy

The transaction will bolster Saudi Aramco’s value chain strategy in the refining, chemicals, and marketing sectors. It will also create new distribution opportunities for Valvoline lubricants following Saudi Aramco’s acquisition of Valvoline International Products Company in February 2023.

Global Presence and Business Expansion

Saudi Aramco’s President of Refining, Chemicals, and Marketing, Muhammad bin Yahya Al-Qahtani, sees this agreement as a significant step towards strengthening the company’s global presence in oil refining, chemicals, and marketing. It also allows for expansion into the retail, lubricants, and trade sectors.

Opportunities and Benefits

Al-Qahtani emphasizes the advantages of this acquisition, as it offers more collaboration opportunities within Saudi Aramco’s commercial and production system. Furthermore, it provides a platform to launch the Saudi Aramco brand in Chile and potentially throughout South America, tapping into new markets for the company’s products. ESMAX, with its strong management and over 100 years of experience, presents great potential for growth.

Welcoming the ESMAX Team

Saudi Aramco welcomes the exceptional ESMAX team to its family, as they contribute to the execution of the company’s strategy in refining, chemicals, and marketing sectors.

About ESMAX Distribution Company

ESMAX is a prominent player in the retail trade of fuels and lubricants in Chile. Their operations include retail gas stations, airport operations, fuel dispensing stations, as well as the production and distribution of lubricants.

Source

Source: “SPA”

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