ExxonMobil Corp. has announced that it has completed the sale of its 25% stake in the MiRO refinery in Germany to Liwathon Group, a privately held investment company.
The stake will be held by Liwathon’s Alcmene oil and commodity trading unit. The value of the transaction has not been disclosed.
Alcmene had been in the running to buy a share in the German Schwedt refinery last year, though that deal didn’t go through.
MiRO in southwest Germany is the nation’s second-biggest oil-processing plant and holds the biggest storage tanks in Germany, the then-head of Miro told local press in 2020.
Officially called Mineraloelraffinerie Oberrhein, MiRO refinery includes crude distilling, naphtha reforming, fluid catalytic cracking, petroleum coking and calcining, hydrodesulfurization, isomerization, ethyl tert-butyl ether and alkylation units.
MiRO produces a high percentage of transportation fuels. Other products produced include petrochemical feedstocks, home heating oil, bitumen, and anode- and fuel grade petroleum cokes. Refined petroleum products are distributed to customers in Germany, Switzerland, France, and Austria by truck, railcar, and barge.