Liwathon acquires 25% MIRO stake from Esso Deutschland

Esso Deutschland GmbH, a subsidiary of ExxonMobil, has sold its stake in Germany’s MIRO refinery to a subsidiary of the Liwathon Group, an international energy logistics company known for its global presence in oil storage.

Alcmene Group, headquartered in Vienna, Austria, announced the purchase of a 25% share in MIRO Mineraloelraffinerie Oberrhein GmbH & Co. KG, one of Germany’s largest oil refineries, previously owned by Esso Deutschland GmbH. This transaction marks a further significant move towards Alcmene’s ongoing strategy to establish itself as a vital player in the global energy infrastructure arena.

Alcmene, a wholly-owned subsidiary of Liwathon Group, specialises in midstream oil and commodity trading. The MIRO refinery is located in Karlsruhe, and is one of the largest refineries in Germany, with a processing capacity of 14.9 million tonnes annually.In 2021, Shell tried to sell its 32.25% stake to Alcmene, but the move was pre-empted by Rosneft, which owned a 24% stake. That move was put on hold by the German government. A year ago, as part of a wave of European sanctions on Russia following its invasion of Ukraine, the German government assumed control over two German subsidiaries of Russian oil company Rosneft—Rosneft Deutschland GmbH (RDG) and RN Refining & Marketing GmbH (RNRM), giving the Bundesnetzagentur, the country’s energy industry regulator, authority over RDG’s shares in three major refineries: PCK Schwedt, MiRo, and Bayernoil.

Italy’s Eni ENI.MI owns 8.33% of the MIRO refinery, while U.S.-based Phillips 66 owns 16.67%.

With a significant capacity to process crude oil and produce a wide array of refined products. The refinery’s strategic location, prominently positioned on the Rhine River in Karlsruhe, about 95 miles south of Frankfurt, and efficient operations have made it a key player in supplying refined products to Germany and surrounding markets.The deal further solidifies Liwathon Group’s presence in the refining sector, presenting promising opportunities for growth and collaboration. As the energy market continues to evolve, strategic acquisitions like this underline the shifting dynamics and the pursuit of new synergies in the industry.

In December 2017, ExxonMobil sold its approximately 1,000 Esso-branded service stations in Germany to EG Deutschland GmbH, an affiliate of UK-based EG Group Limited.