Commodities
Aramco Buys Retailer Esmax in Chile to Expand Fuel Distribution
Processing facilities in the Khurais oil field in Saudi Arabia. The deal would be Aramco’s first in fuel retailing in South America.
Photographer: Maya Sidiqqui/BloombergThis article is for subscribers only.
Saudi Aramco agreed to buy fuel distributor Esmax Distribucion SpA in Chile, the latest investment in the energy giant’s push to expand its refining and chemicals operations worldwide.
The acquisition would help Aramco secure outlets for its refined oil products, according to a statement Friday. It would also allow the company to unlock new markets for lubricants after it bought Valvoline Inc.’s petroleum business for $2.65 billion earlier this year. Aramco didn’t disclose the value of the Esmax transaction.