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Trafigura buys Exxon Central America fuels units
March 29, 2011 / 9:50 PM / 7 years ago

Trafigura buys Exxon Central America fuels units

MEXICO CITY (Reuters) - Puma Energy, a subsidiary of oil trader Trafigura TRAFG.UL said on Tuesday it agreed to buy Exxon Mobil Corp’s (XOM.N) downstream oil businesses in six Central American countries.

Puma will acquire approximately 290 fuel stations along with oil product terminals and aviation and marine fuels businesses in Guatemala, Belize, El Salvador, Nicaragua, Honduras and Panama.

The Trafigura unit will also buy Exxon’s Manref refinery in Nicaragua and its 65 percent stake in El Salvador’s RASA refinery.

Terms of the transaction were not disclosed and the deal remains subject to regulatory approvals.

Exxon has been scaling back its exposure to retail fuel markets and oil refining in Latin America. The oil major agreed earlier this month to sell a refinery and more than 700 service stations in Argentina to Pan American Energy.

Puma operates downstream oil businesses in nearly two dozen countries. The company bought BP Plc’s (BP.L) southern African fuel distribution business in November for $296 million.

Reporting by Mica Rosenberg and Robert Campbell; Editing by Tim Dobbyn

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