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Exxon Mobil to Exit Retail Gas Business

Stock quotes in this article: XOM , CVX , COP  

Exxon Mobil (XOM Quote) said Thursday that it's getting out of the U.S. retail gasoline business and will sell its portfolio of company-owned gas stations.

The portfolio includes 820 self-operated retail outlets, as well as roughly 1,400 gas stations that are managed by dealers.

While oil companies are under heavy scrutiny for the enormous profits now being made with crude selling for well over $100 a barrel, major integrated companies such as Exxon, Chevron (CVX Quote) and ConocoPhillips(COP Quote) have seen the profitability of their refining and marketing segments get hammered. ...

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