ExxonMobil to sell global ester-based jet turbine lubricating oil business to BP Amoco

Exxon Mobil announced that it has reached agreement to sell the global Exxon ester-based jet turbine lubricating oil business to BP Amoco, through its Air BP Division. This business includes ExxonMobil's interests in the blending and packaging facilities for these products located at the Tosco refinery in Linden, NJ, research equipment, raw material and finished product inventories, and assignment of or rights to several Exxon patents.
This sale satisfies conditions of both the EC and the US FTC associated with the ExxonMobil merger. The terms of the sale between ExxonMobil and BP Amoco require regulatory approval.
"We are pleased to have reached agreement with BP Amoco," said Eugene A. Renna, senior vice president, Exxon Mobil. "BP Amoco has a strong record as a petroleum products manufacturer and marketer, will offer excellent employment opportunities to our employees, and will be a capable supplier for current customers."
Exxon ester-based jet turbine lubricating oils are sold to various customers throughout the world. Despite this uncovering, ExxonMobil will retain its global lines of aviation hydraulic fluids, aviation piston oils and aviation greases. ExxonMobil will also continue to manufacture and sell Mobil ester-based jet turbine lubricating oils world-wide.

ExxonMobil is a leading global petroleum and petrochemicals company whose subsidiaries have operations in about 200 countries.