Exxon Evaluates $1 Billion Sale of Singapore Fuel Stations

Deal News | Dec 03, 2024 | Zawya

U.S. oil major Exxon Mobil Corp is considering selling its network of 59 petrol stations in Singapore, a transaction that may fetch approximately $1 billion, according to Bloomberg News. Through the sale of these stations, operated under the Esso brand, Exxon aims to generate funds for investments into higher-growth areas. This move follows a recent divestment in Malaysia, where Exxon sold its oil and gas assets to Petronas, marking a strategic retreat from the Malaysian upstream sector. This prospective Singapore sale has garnered interest among energy sector players and investment funds. Exxon has yet to officially comment on the potential transaction, despite its long-standing presence of over 130 years in Singapore, which includes significant industrial facilities.

Sectors

Energy
Investment Management
Retail

Geography

Singapore – The geographical location of the potential asset sale, involving Exxon's petrol stations.
United States – Exxon Mobil Corp is a U.S.-based multinational oil and gas corporation.
Southeast Asia – The broader region where Exxon has been executing divestiture actions including the sale of Malaysian assets.

Industry

Energy – This involves companies engaged in the exploration, production, refining, and marketing of oil and gas products.
Investment Management – Involves entities such as investment funds showing preliminary interest in the potential sale.
Retail – The article discusses investments in the retail fuel sector, specifically petrol stations.

Financials

1,000,000,000 – Estimated value of the sale of Exxon's 59 petrol stations in Singapore.

Participants

Name	Role	Type	Description
Exxon Mobil Corp	Owner	Company	A U.S. oil major evaluating the sale of its petrol stations in Singapore.
Esso	Brand	Company	Brand under which Exxon operates its petrol stations in Singapore.
Petronas	Buyer	Company	Malaysian state energy firm that purchased Exxon's oil and gas assets in Malaysia.