Exxon Mobil to Sell Stake in Co.

Exxon Mobil Corp., the largest U.S. oil company, is selling its entire stake in China’s biggest oil refiner for up to US$1.4 billion (euro1.1 billion), Dow Jones Newswires reported Tuesday.

Exxon Mobil – the last of three international oil investors in China Petroleum & Chemical Corp., or Sinopec – is selling 3.17 billion shares in the oil refiner for between HK$3.38 (43 U.S. cents; 33 euro cents) and HK$3.53 (45 U.S. cents; 34 euro cents) a share, an unidentified source familiar with the situation told Dow Jones.