ExxonMobil's UK subsidiary Esso is reportedly closing a further four service stations in Ireland, adding to current mayhem in the region's petroleum market as a result of reduced profit margins, according to The Irish Times.
According to the publication, the sites will go to tender on March 16, 2007 and will include two stations in the Dublin area, one in Galway and one in Mayo. The Irish Times added that the most important of these is Esso’s Sandyford Road site in Ranelagh, Dublin, which it commented would have a likely selling price of E12.5 million.
These reported sales come after the sale of 25 of Esso’s service stations in Ireland last year for over E30 million, as they were no longer in convenient locations. According to The Irish Times, Esso is now focusing on opening new sites along busier roads in the greater Dublin area and key locations on the region’s improving motorway network.
According to The Irish Times, the recent departure of Statoil and Shell has left the Irish petroleum market open to consolidation into five major competitors. Esso is one such contender, and now has 200 service stations in the region.