Canada's No. 2 integrated oil producer and refiner Imperial Oil Ltd said on Wednesday it is considering selling 475 company-owned Esso gas stations. The rest of the company's 1700 Esso-branded retail fuel sites in Canada are already owned and operated by third parties, in what the company describes as the "branded wholesaler model".Imperial, 69.6 percent owned by Exxon Mobil Corp, would continue to supply fuel to the gas stations, and they would keep the Esso logo.Brad Merkel, Imperial vice president of fuels and lubricants, said the potential sale was something the company had started evaluating over a year ago, and had nothing to do with falling oil prices.Merkel said it was too early to estimate how much capital the sale would raise if Imperial chooses to go ahead with its plan.
Imperial Oil Limited (Imperial) is an integrated oil company. Shares of IMO fell by 5.21% or $-2.05/share to $37.27. In the past year, the shares have traded as low as $36.88 and as high as $54.09. On average, 324026 shares of IMO exchange hands on a given day and today's volume is recorded at 594313.
Exxon Mobil Corporation is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 3.3% or $-3.0/share to $87.95. In the past year, the shares have traded as low as $86.19 and as high as $104.76. On average, 15075600 shares of XOM exchange hands on a given day and today's volume is recorded at 17827932.
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