ExxonMobil to sell all retail outlets

ExxonMobil Corp. reported June 12 it will sell its 820 company-owned stations and 1,400 dealer-operated retail outlets due to tightening profits.

By OGJ editors
HOUSTON, June 13 -- ExxonMobil Corp. reported June 12 it will sell its 820 company-owned stations and 1,400 dealer-operated retail outlets due to tightening profits. The major did not disclose financial details but said the transition will take place over a "multiyear period."

US motorists, however, will continue to see Exxon and Mobil-labeled outlets throughout the country. About 75% of ExxonMobil's roughly 12,000 stations in the US are owned by branded distributors. ExxonMobil will still sell gasoline to those stations and get paid for the use of its name.

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