ExxonMobil to Sell Torrance Refinery to PBF Energy

ExxonMobil has reached an agreement with PBF Energy, Inc. for the sale and purchase of its refinery in Torrance, California, a lubricants distribution center at Vernon, products terminals at Vernon and Atwood, and associated California pipelines and other logistics assets, including facilities at the Southwest terminal. "The sale results from a strategic assessment of the site and how it fits with our refining portfolio," said Jerry Wascom, president of ExxonMobil Refining & Supply Company. "ExxonMobil regularly adjusts its portfolio through investment, restructuring or divestment consistent with overall global and regional business strategies. We remain committed to a large, global refining portfolio as