Mobil sells Australian retail network to Caltex

27 May 2009

Melbourne, Australia:  Mobil Oil Australia Pty Ltd ("Mobil"), a subsidiary of ExxonMobil, announced today that it has signed an agreement for the sale of its retail fuels business comprising 302 company owned or leased service stations, primarily located in the metropolitan areas of eastern Australia, to Caltex Australia ("Caltex").  Completion of the sale is subject to regulatory clearance.

The sale covers the company Strasburger Enterprises (Properties) Pty Ltd ("SEP"), which operates Mobil's metropolitan retail network in Australia.

"By selling Mobil's retail business as a going concern we are endeavouring to preserve jobs for most of those employed in this business," said Mobil's Fuels Director, Paul Rea.

The sale does not include any other part of ExxonMobil's Australian operations.  Mobil will continue to compete in the supply, terminaling and wholesale marketing of fuels products in Australia, as well as with its lubricants, petroleum specialties, refining and chemicals businesses.

"The Australian retail fuels market is highly competitive and challenging," said Mr. Rea.  "Mobil is now a relatively small participant in that sector of the market following the extensive rationalisation of its company owned service station network over the last few years.”

The proposed transaction does not affect ExxonMobil's oil and gas production operations in Australia, which continue to be an important part of ExxonMobil’s global portfolio. 

Media enquiries: Mobil Public Affairs (03) 9270 3124