| Exxon Mobil to sell troubled Southern California refinery | |
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LOS ANGELES (AP) -- Exxon Mobil Corp. is selling its troubled Southern California refinery for $537 million to a New Jersey energy company more than six months after an explosion crippled the plant and led to higher gas prices in the Golden State, according to an announcement Wednesday. PBF Energy Inc., one of the largest independent oil refiners in North America, said it will purchase the Torrance plant that can process 155,000 barrels of crude oil a day. The refinery 20 miles south of downtown Los Angeles has been shut down since an explosion in February injured four contractors, caused heavy damage at the plant and rocked nearby neighbors with the blast. California regulators have fined Exxon more than $566,000 for workplace safety and health violations related to the blast. The shutdown led to a shortage of gas that meets California's stricter pollution regulations and caused higher prices at the pump for drivers in the state. |
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Exxon Mobil is a and oil producing company based in United states of america. Exxon Mobil is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 521.8 billions as of today (€ 476.7 billions). Its stock quote reached its lowest recent point on March 14, 1997 at US$ 100.12, and its highest recent level on October 10, 2024 at US$ 123.14. Exxon Mobil has 4 237 270 016 shares outstanding. |