Exxon Mobil Considers Sale of Gas Station Business in Singapore

Exxon Mobil Corp (NYSE:XOM) is contemplating the sale of its gas station operations in Singapore, potentially generating around $1 billion.

According to a report by Bloomberg, Exxon is in discussions with financial advisers regarding the sale. There is interest in the deal from various energy companies and private investment funds.

Exxon has over 50 gas stations in Singapore operating under the Esso brand and has had a presence in the region for over 130 years, including a refinery.

This potential divestiture marks Exxon’s second significant withdrawal from Southeast Asia in recent months, following an agreement in July to sell its Malaysian oil and gas assets to Petronas, a state-owned energy company.