Exxon considers selling gas stations in Singapore
ExxonMobil in Singapore is considering selling its gas stations in the country, a major local newspaper reported. It is heard that several companies like energy companies and investment companies are showing interest in purchasing the gas stations. ExxonMobil Singapore operates a petrochemical complex, a lubricant plant and LPG filling stations in addition to 59 gas stations in the country. Market participants believed that this sale is part of its business optimization. The sale price is expected to be at around USD 1.0 billion. ExxonMobil has already sold oil and gas assets in Malaysia amounting to USD 2-3 billion, including a major oil field Tapis. |