CHESTER, Va. -- Exxon Mobil Corp. is now one step closer to transitioning most of its company-owned operations to the distributor model—a goal the company announced last year. Kevin Allexon, spokesperson for ExxonMobil, confirmed for CSP Daily News that the company has reached an agreement with Southside Oil to sell its real-estate interests at all Exxon-branded retail stations located in Maryland and Delaware. More than 75% of ExxonMobil-branded stations in the United States are owned or supplied by independent distributors.
Although Allexon declined to comment on specifics of the deal, a Southside source confirmed the talks included 172 sites in Maryland and Delaware, but wasn't certain the deal was "100% done." The source, who wished not to be named, said, "Exxon made an announcement to its dealers that the stores have been sold to us, but there's still some final paperwork that needs to be done."
Subscribe to the
industry's most-read
daily email newsletter
and get the latest
news delivered to
your Inbox each
morning.
Visit the 24-7 Connect Virtual Tradeshow for the latest product information on the petroleum category, including suppliers of fuel and alternative fuels, and forecourt equipment, including canopies, dispensers, tanks and piping, leak-detection, inventory management systems and more.
CAMARILLO, Calif. -- The Nov. 20 U.S. average retail price fell 3.64 cents per gallon in the past two weeks, to $2.6477. Half the cause was crude-oil price slippage and half was gasoline margin losses for both refiners and retailers, according to the most recent Lundberg Survey of approximately 5,000 U.S. gas stations.
WILMINGTON, Del. -- Refineries from New Mexico to New Jersey are under severe economic pressure because of falling demand for fuel, with a number of facilities shutting down in recent months, said the Associated Press. Valero Energy Corp., which shuttered a major refinery over the summer, said Friday it would permanently close its Delaware City oil refinery and layoff 550 workers. It is the largest U.S. refinery to close this year.
Click Here
CAMARILLO, Calif. -- The Nov. 20 U.S. average retail price fell 3.64 cents per gallon in the past two weeks, to $2.6477. Half the cause was crude-oil price slippage and half was gasoline margin losses for both refiners and retailers, according to the most recent Lundberg Survey of approximately 5,000 U.S. gas stations.
WILMINGTON, Del. -- Refineries from New Mexico to New Jersey are under severe economic pressure because of falling demand for fuel, with a number of facilities shutting down in recent months, said the Associated Press. Valero Energy Corp., which shuttered a major refinery over the summer, said Friday it would permanently close its Delaware City oil refinery and layoff 550 workers. It is the largest U.S. refinery to close this year.
