Exxon leaving southeast region?

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I talked to a friend of mine who owns a BP station and he told me that Exxon is going to quit selling gas in parts of Southeastern United States.Has anyone heard of this?
 
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ON, Canada eh?
Worlds biggest oil company going to pull out of areas? I find that very hard to believe... Any more information about this?
 
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I heard what the plan is for ExxonMobil is to sell off their company owned stations in the US, franchise out the name to the new owners, and just be in the upstream business with a banner for downstream marketing. The downstream end is an extremely small portion of their profits, and could be worth more to them by selling it off.
 
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 Originally Posted By: 1993_VG30E_GXE
Steve, Exxon is not the worlds 'biggest' oil company.
You know something I don't? I was under the assumption that they are... Please tell me who is then. (Not being a Jerk, honestly interested)
 
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Not only the Southeast .... Exxon stations are disappearing here in New Jersey too ! Interesting too that they almost always are the highest priced stations around and not by just a few cents either !
 
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XOM announced awhile ago they are getting out of the retail gas business and closing/selling off their existing gas stations.
 
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Good business The money is not in Retail or retail goods. The money is in upstream supply. (any energy source) Let some independents fight over the retail peanuts.
 
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 Originally Posted By: StevieC
 Originally Posted By: 1993_VG30E_GXE
Steve, Exxon is not the worlds 'biggest' oil company.
You know something I don't? I was under the assumption that they are... Please tell me who is then. (Not being a Jerk, honestly interested)
Tempest's chart is pretty up to date - but again, 'big' is relative...what does 'largest' mean. Largest market cap? Who has the most oil? As far as who has the oil, last time I checked Exxon was in 13th place, but this data was pretty old. The point is, the national oil companies are the new seven sisters who have dwarfed the companies who once dictated the oil market. There was a shift in power some time ago. Alot of the now giants didn't like dealing with the north american oil companies, as they basically dictated to them what to do for years. This was the anglo-capitalist way of doing business, telling those poorer countries what to do basically. Now, the tables have turned.
 
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 Originally Posted By: Tempest
 Originally Posted By: StevieC
 Originally Posted By: 1993_VG30E_GXE
Steve, Exxon is not the worlds 'biggest' oil company.
You know something I don't? I was under the assumption that they are... Please tell me who is then. (Not being a Jerk, honestly interested)
Information is a little old but you get the point: http://www.energyintel.com/DocumentDetail.asp?document_id=245527
They are just about the biggest corporation that happens to be in the oil business. http://money.cnn.com/magazines/fortune/global500/2008/full_list/
 
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 Originally Posted By: bruno
Not only the Southeast .... Exxon stations are disappearing here in New Jersey too ! Interesting too that they almost always are the highest priced stations around and not by just a few cents either !
EXACT same thing here in NH. Exxon stations are all but gone. There is one within like 50 miles left that I know of. Doesn't bother me a bit as they are the most expensive BY A LOT as you say plus I hate the company itself. I wish they would close up and take the Mobil stations( also the most expensive )with them while they are at it. IMO the whole company can go to blazes.
 
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Several years back, as part of the merger agreement, they had to close down Exxon or Mobil stations in certain regions where they overlapped. In this area it was the Mobil stations. Now even the Exxons are almost extinct. Oh well, as NEHEMI said, they were always the most expensive gas around. No great loss.
 
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 Originally Posted By: NHHEMI
 Originally Posted By: bruno
I wish they would close up and take the Mobil stations( also the most expensive )with them while they are at it. IMO the whole company can go to blazes.
In the Fort Lauderdale area Mobil is one of the cheapest stations around..There is one next to a Cosco and the difference is only 2 cents.
 
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 Originally Posted By: NHHEMI
 Originally Posted By: bruno
Not only the Southeast .... Exxon stations are disappearing here in New Jersey too ! Interesting too that they almost always are the highest priced stations around and not by just a few cents either !
EXACT same thing here in NH. Exxon stations are all but gone. There is one within like 50 miles left that I know of. Doesn't bother me a bit as they are the most expensive BY A LOT as you say plus I hate the company itself. I wish they would close up and take the Mobil stations( also the most expensive )with them while they are at it. IMO the whole company can go to blazes.
I suppose you would like to see all US corporations fold up?
 
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 Originally Posted By: Gary Allan
They are just about the biggest corporation that happens to be in the oil business.
'Big' is a relative term. You could be a 'big' company but have the least amount of oil. It's like sports. That list is like a sporting event. It's like arguing who the biggest team is right now, it really means nothing. The undercurrent is, the original seven sisters have now been replaced by all the national oil companies. The only company left from the US is Exxon, and that metric maybe by profit or market cap - I would have to look. As far as who actually HAS the oil, last I checked Exxon was 13th on the list, but that list was old. It has likely moved lower on the list. But it doesn't really matter - it's a global market and the price is set globally, and there will always be suppliers. Canada is the biggest supplier to the US. And I don't see that relationship ever deteriorating in my life-time. Alot of the talk about oil and the fear that the US may get into a resource war, is just fear mongering by the media. It's all nonsense, just to distract the US public even further.
 
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