ExxonMobil to sell part of gas station operations in Japan

U.S. oil giant ExxonMobil Corp. said it will sell part of its gasoline station operations in Kyushu in southwestern Japan. The company said the sales plan will involve a small number of facilities among 400 stations it runs in the region. Industry sources said earlier that ExxonMobil will sell the Japanese gasoline station business in stages as Japan’s demand for gasoline has fallen due primarily to demographic changes and more fuel-efficient vehicles. The sales will be made on the condition that its Esso, Mobil and General brands are maintained, and that potential buyers include petroleum products retailers affiliated with trading houses, sources said. (October 2, 2010)