Rhone Energies, a consortium of commodity trader Trafigura Group Pte Ltd. and Entara LLC, is in exclusive negotiations with Exxon Mobil Corporation (NYSE:XOM)'s Esso S.A.F. (ENXTPA:ES) to acquire the Fos-sur-Mer refinery in southern France and the Toulouse and Villette de Vienne terminals. Trafigura said in a statement on April 11, 2024 it would enter into a minimum 10-year exclusive crude oil supply and product offtake agreement, including ownership of crude oil and product stocks in tank. Trafigura added that Rhone Energies would continue to supply ESSO SAF in the region.

The deal's "completion is subject to regulatory approvals and is expected by the end of 2024. The financial terms of the proposed transaction are confidential," the company said. ESSO shares are up 9.2% on April 11, 2024, the highest since July 2008.