ExxonMobil has signed a deal to divest its stake in Esso SAF and ExxonMobil Chemical France (EMCF) to North Atlantic France SAS, marking its full exit from French refining and chemicals. The sale includes the 230,000 bpd Gravenchon refinery in Normandy and its integrated chemical facilities, such as a 400,000-ton/year ethylene steam cracker.

North Atlantic has pledged to retain 1,350 jobs and invest in the site to support France’s downstream supply and energy transition goals. ExxonMobil will continue marketing Esso-branded fuels and lubricants in France, ensuring market continuity despite the refinery exit.

This move aligns with ExxonMobil’s broader strategy of divesting lower-margin downstream assets in Europe while channeling investments into higher-return upstream and global projects. The transaction is expected to close in Q4 2025, subject to regulatory approval.