ExxonMobil is reportedly contemplating the sale of its gas stations in Singapore, potentially raising around $1 billion. The company is collaborating with financial advisors to explore this possible divestment. Other industry players and investment funds have shown initial interest in the sale.
The sale could allow ExxonMobil to reallocate capital to areas with higher growth potential. However, the discussions are still in the preliminary stages, and no final decision has been made. A representative from ExxonMobil declined to comment on the matter.
ExxonMobil has operated in Singapore for over 130 years and currently runs 59 gas stations under the Esso brand. Its operations in Singapore also include a refinery, chemical plant, lubricant plant, fuel terminal, and LPG bottling plant.
