Aster Chemicals and Energy, the new operator of the Bukom refining complex, is reportedly planning to bid for Exxon Mobil's petrol stations in Singapore. This move suggests a potential divestment of ExxonMobil's retail fuel business in the region.
The potential sale aligns with ExxonMobil's ongoing strategy to high-grade its global portfolio and optimize its downstream footprint. Divesting retail assets allows the company to focus on larger, more integrated refining and chemical operations.
This development could lead to a further streamlining of ExxonMobil's assets in Asia, generating capital that can be reinvested into strategic growth areas. The bid indicates market interest in ExxonMobil's non-core retail operations.
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