EXXON AGREES TO SELL BIG BAYWAY REFINERY

Exxon Corp. is shaking up its U.S. refining and marketing operations. The company agreed to sell its Bayway refinery in Linden, N.J., to Tosco Corp., Stamford, Conn. In addition, it will bow out of retail gasoline marketing in three southern Florida counties. Both operations are handled by Exxon's Exxon Co. U.S.A. unit. Tosco agreed to pay $175 million for the 200,000 b/d Bayway refinery, the largest refinery on the U.S. East Coast. The deal is to close by Apr. 1, 1993.

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