ExxonMobil Plans to Sell French Refining Assets to North Atlantic

Exxon Mobil Corporation XOM has entered into exclusive negotiations to divest its controlling interest in Esso Société Anonyme Française SA (Esso S.A.F.) and 100% of ExxonMobil Chemical France SAS (“EMCF”) to North Atlantic France SAS. The deal includes the Gravenchon refinery and related assets, with the transaction expected to be closed in the fourth quarter of 2025, subject to regulatory approvals and final financial arrangements.XOM to Retain French Retail and Specialty BusinessDespite the sale, ExxonMobil will retain a significant commercial presence in France. Around 750 Esso-branded retail fuel stations will continue to operate under the Esso name, ensuring brand continuity for French consumers. Additionally, ExxonMobil will maintain its role in supplying finished lubricants, base stocks, synthetics, and other specialty products throughout the country.ExxonMobil considers France a key market and intends to maintain a strong commercial presence through the Esso brand while continuing to support its customers across the country.XOM Employee Terms to Remain UnchangedApproximately 1,350 employees affected by the transaction — excluding those already part of a previously announced redundancy plan — will remain employed under their current terms and conditions. This assurance provides continuity and stability to the workforce during the transition.North Atlantic Expands European FootprintThe acquisition marks a milestone for North Atlantic, which views the deal as a strategic enhancement of its transatlantic operations.North Atlantic considers this development as a milestone in its growth strategy, aiming to establish Gravenchon as a central hub for France’s energy and industrial sectors while expanding its transatlantic presence.XOM’s Move Aligns With Its Global Business StrategyThe divestment is part of ExxonMobil’s broader strategy to continually assess and optimize its global portfolio. While refining assets in France are changing hands, ExxonMobil reaffirmed its commitment to conducting safe, reliable operations and meeting all supply obligations during the transition.The transaction will undergo the standard consultation process with French employee representative bodies, as required by law.ExxonMobil's exit from certain French operations does not signal a broader retreat from Europe. The continent remains an important region for the company’s energy and specialty product business.XOM’s Zacks Rank & Key PicksXOM currently carries a Zack Rank #4 (Sell).Investors interested in the energy sector may look at some better-ranked stocks like Subsea 7 S.A. SUBCY, Energy Transfer LP ET and RPC Inc. RES. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore.The Zacks Consensus Estimate for SUBCY’s 2025 EPS is pegged at $1.31. The company has a Value Score of A.Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer’s systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line.The Zacks Consensus Estimate for ET’s 2025 EPS is pegged at $1.44. The company has a Value Score of A.RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. The company is strongly committed to returning value to shareholders through consistent dividends and share buybacks. RPC’s current dividend yield is higher than that of the composite stocks in the industry. Its new Tier IV dual-fuel fleet has boosted profits, with plans to further expand high-efficiency equipment to enhance operational capabilities. The Zacks Consensus Estimate for RES’ 2025 EPS is pegged at 38 cents. The company has a Value Score of A. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exxon Mobil Corporation (XOM): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report RPC, Inc. (RES): Free Stock Analysis Report Subsea 7 SA (SUBCY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks