On May 28, ExxonMobil, a global leading energy provider, announced that it had begun exclusive negotiations with the French subsidiary of Canadian energy group North Atlantic to sell its majority stake in its French subsidiary Esso. 

ExxonMobil currently has an 82.89% stake in Esso and plans to sell it all. The tender offer is anticipated to be submitted in the first quarter of 2026.

North Atlantic said in a statement that it will preserve jobs and transform Esso's Gravenchon facility into a green energy hub. North Atlantic spokesperson also said ExxonMobil will continue supplying the crude oil, which North Atlantic will process at the Gravenchon facility using Exxon’s technology.