Exxon selling Japan unit for $3.9B to cut refining

January 30, 2012 8:14:56 AM PST
Exxon Mobil Corp. is selling its Japanese refining and marketing business to partner TonenGeneral Sekiyu K.K. in a $3.9 billion deal that reflects a long-term decline in Japan's demand for fuel and a global strategy to refocus on exploration.