“Al Jazeera” – Economy:

Saudi Aramco, one of the world’s leading integrated energy and chemical companies, has reached an agreement to fully acquire ESMAX Distribution Company (SPE) (ESMAX) from Southern Cross Group. The deal is subject to certain conditions, including regulatory approvals. The deal represents Saudi Aramco’s first investment in a retail and marketing business in South America, which has promising and attractive markets. The agreement will also help strengthen Saudi Aramco’s value chain strategy in refining, chemicals and marketing. After Saudi Aramco acquired Valvoline International Products, a subsidiary of American company Valvoline, in February 2023 to open up new opportunities for marketing Valvoline lubricants.

Saudi Aramco’s Head of Refining, Chemicals and Marketing, Mohammed bin Yahya Al-Qahtani, considered the deal an important step in the company’s strategy, which aims to strengthen its global presence in the refining, chemicals and marketing sector. Expanding its scope of business in retail, lubricants and trading sector. He emphasized the company’s interest in taking advantage of the opportunities offered by the company, as it provides additional features to collaborate with the business and production organization at Saudi Aramco. Also, the acquisition provides a platform to launch the Saudi Aramco brand, whether in Chile or in other countries. A large scale in South America, which enables the company’s products to open up great potential to benefit from new markets, especially (ESMAX) a company with growth potential and well-managed in Chile for more than 100 years. Experience. We welcome the renowned (ESMAX) team to join the Saudi Aramco family as we continue to execute the company’s strategy in refining, chemicals and marketing. (ESMAX) is one of the leading companies in the retail trade of fuels and lubricants in the State of Chile, as its business scope includes: retail fuel stations, airport operations, fuel distribution stations and production and distribution of lubricants.