Seeking Alpha

Exxon further cuts share in Japan refining

  • Exxon Mobil (XOM) cuts its stake in Japan's second-biggest refiner, further reducing its downstream presence in the country to focus on its more lucrative upstream business.
  • XOM will sell a 10% interest in TonenGeneral Sekiyu to trading house Mitsui as part of TonenGeneral's takeover of a small oil products retailer.
  • Japan's refining industry is realigning, with oil firms cutting capacity to offset shrinking demand from a declining population and shifting to technology that's more energy efficient and environmentally friendly.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs