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Exxon Mobil Exits Guangdong Province Retail Market, IOD Reports

Exxon Mobil Corp. (XOM) sold the 16 service stations it owns in China’s Guangdong province, according to the International Oil Daily.

Exxon said in an e-mail that its withdrawal from Guangdong province’s retail market does not affect its other energy activities in China, the IOD reported today.

The company is retaining its stake in a joint venture with China Petroleum & Chemical Corp. (600028) and Saudi Arabian Oil Co. that owns more than 700 service stations in Fujian province, according to the IOD.

Exxon did not name the buyer of the service stations, the IOD said.

To contact the reporter on this story: Jacob Adelman in Tokyo at jadelman1@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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