Exxon Mobil is in talks with its Japanese refining entity, TonenGeneral Sekiyu KK, about the “potential restructuring of the group” but final decisions have not been made yet, TonenGeneral said on Wednesday in response to a Reuters report that Exxon was in talks to sell most of its 50% stake in the Japanese refiner. TonenGeneral quoted Exxon as saying it “has no plans to exit the Japan market” and continues to look for opportunities to strengthen its competitive position and increase shareholder value.
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