Wednesday, October 6, 2010

Exxon (NYSE:XOM) May Sell Japanese Gas Stations

Exxon Mobil Corp. (NYSE:XOM) is reportedly thinking about selling some gas stations on the Japanese island of Kyushu, among the main islands of the country, according to the Nikkei.

The company said, "Exxon is looking into new measures such as changing the ownership of service stations there."

Even so, Exxon says they will keep on supporting its retail operations in Japan.

The Nikkei also recently reported Exxon is considering cutting back on oil-refining capacity in Japan by close to 20 percent, based on slowing demand.

Exxon has responded to some reports which asserted they were leaving the Japanese market altogether, which the oil giant says isn't the case.

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