US-based oil giant ExxonMobil has announced the completion of the sale of its Fos-sur-Mer refinery in the south of France, as well as two storage terminals. The transaction, completed on November 1, marks a transition to a broader reorganization of its operations in Europe. The new buyer, Rhône Energies, is a Swiss consortium made up of the raw materials trader Trafigura and the refinery operator Entara, specializing in the hydrocarbons sector.
Rhône Energies published a press release in which it expressed its satisfaction with this strategic acquisition. According to Nicholas Myerson, Managing Director of Rhône Energies, the group's priority will be to ensure “the health and safety of employees, environmental performance and social dialogue” on the Fos-sur-Mer site. The consortium is committed to maintaining the jobs of the 310 current employees at the refinery, which is among the oldest and largest industrial sites in the region with a processing capacity of 140,000 barrels per day.
ExxonMobil activities reduction strategy in France
This sale follows an announcement from ExxonMobil last April, where the group unveiled a strategy to reduce its activities in France. This restructuring also concerned the Port-Jérôme site in Normandy, for which the company had mentioned the elimination of 677 positions. In the case of Fos-sur-Mer, this sale reflects an adaptation to evolving market trends, which are undermining demand for traditional petroleum products.
With the transition to less polluting heating methods and the reduction in dependence on fuel oil, particularly for domestic heating, French refineries are experiencing a notable drop in activity. The progressive electrification of transport, encouraged by European decarbonization policies, also contributes to lower demand for fossil fuels, complicating the operation of sites like that of Fos-sur-Mer.
Context and challenges for Rhône Energies
The acquisition of the Fos-sur-Mer refinery represents an opportunity for Rhône Energies to expand its capacities in Europe, in a sector marked by profound changes. By taking over the French sites, the consortium aims to improve their environmental performance and strengthen their competitiveness. Rhône Energies' vision seems to be moving towards more modern management of energy infrastructure, with an emphasis on sustainable practices and social dialogue.
According to the press release, Rhône Energies could explore new ways of adaptation for these sites, in response to regulatory developments and new expectations in terms of energy transition. This could include investments in cleaner technologies and improvements in operational efficiency, as part of European standards for reducing CO₂ emissions.
Repercussions for the energy sector in France
This sale is part of a broader context of reorganization of French oil platforms, which are under pressure from changes in consumer behavior and new climate legislation. The closures and reductions in refinery activities on the national territory reflect the impact of the decline in demand for petroleum products, and the need for the sector to adapt to alternative energies.
Market experts predict that other oil companies could follow similar strategies, either closing sites or divesting assets to companies capable of upgrading these facilities. For workers in the sector, this often implies uncertainties about the sustainability of their jobs, but also the hope that these reorganizations will pave the way for jobs better adapted to climate challenges.
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