ExxonMobil considering sale of Singapore petrol stations for US$1 billion: sources
The potential sale comes amid a dip in global demand for petrol as electric vehicle adoption revs up
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THE largest bloc of petrol stations in Singapore may soon hit the market.
US energy major ExxonMobil – which is believed to have 59 petrol stations under the Esso brand in Singapore – is said to be considering a sale of these assets. The second-biggest player is Shell Singapore, which has 57 stations across the island.
A sale by Exxon could raise about US$1 billion, according to a Bloomberg report.
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