Repsol Sells Ecuadorian Gas Station Network

Spanish oil company Repsol-YPF has signed an agreement to sell Ecuadorian gas station operators RECESA and Oiltrader to Peruvian counterpart Primax for $47m, Repsol says. The purchase includes 123 gas stations in Ecuador, as well as Repsol’s lubricants and aviation fuel operations, infrastructure and industrial sales business. The transaction is expected to close in Q3, Repsol says, pending approval of the Ecuadorian regulators.