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Exxon selling Japan unit for $3.9 bil to cut refining


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Sayonara ExxonMobil !

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Japanese business is shrunk enough, thank you.

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Industry continuing to slow and car sales slumping don't portend good things for oil consumption.

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LESS OIL CONSUMPTION??.... with the 54 Nuclear reactors that are down except a few... How exactly is Exxon predicting less oil consumption?... and how exactly is Japan making up for the 54 REACTORS?... some type of secret energy source they are using but wasnn't needed with 54 reactors online.. please explain somebody

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Mr Sushi, I believe that Japan has restarted or has increased the output of some coal or gas-burning electric plants. If I remember correctly, there is more than enough energy without the nuclear power plants from other sources. Only problem is that these sources tend to leave a huge footprint in the economy as a by-product of normal use.

And if you look at cars in general, in the 1999-2000 area of time, many cars had a 燃費 (gas consumption) of 11 - 17 kilometers per liter. Recent cars are averaging 19 kl/l and up, with many at 20+. With the average used car having a life of 5-10 years and / or 60,000kilometers, it is not surprising that as efficiency of the combustion engine rises, fuel consumption would decrease. I cannot give any one source to my data but I can say that I am in the market for a car and have been researching vehicles to buy.

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Terrible harbinger of future confidence in Japan. Japan wants gringos out and now they are complying - it's a lose-lose except for XOM's bottom line...

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I wish they would shrink the huge refinery near Negishi. The smell is horrible.

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Come to think of it, considering how many sharp minds there are at Exxon I am positive that macro-shrinking is an inexorable trend for Japan.

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@Mr Sushi

Take a look at the big car manufacturers:

Toyota and Prius, a car consuming less oil-based fuel Mitubishi and Smart, a car that runs on electricity

There are also alternative fuels on the global market:

GTL (gas-to-liquid) LNG (liquefied natural gas)

And other oil-based fuel-reducing technology under research and development.

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