Exclusive-Aster Chemicals to bid for Exxon Mobil’s Singapore fuel stations, sources say

By Trixie Yap, Siyi Liu and Chen Aizhu

Singapore (Reuters) – The new Operator of the Bukom Refining Complex plans to submit an application to the gas stations of Exxon Mobil in Singapore, five people with knowledge of the question.

The sale of Exxon Mobile retailers in May is entered by mandatory proposals phase of official proposals, two sources report. 58 Gasoline kiosks network is estimated at about $ 1 billion, they say that despite none of the initial applications has exceeded that level.

Sales involved the interest of private capital firms and assets, saying two sources, although it was not clear which financial enterprises plan to apply.

Sale is Markson’s output from Singapore retail sales, as the government plans to reduce land transport emissions by passing electrical vehicles. In 2023, Exxon sold its gas stations in Thailand for $ 603 million in Bangcak.

The British Barclays recommends Exxon Mobil on the transaction, said two sources. All the people who spoke about this issue refused to be called, because it is not public.

Exxon spokesman said that the company does not comment on market speculation. Barclays and Aster Chemicals also refused to comment.

Aster, a joint venture between Indonesian Chandra Group and Global Brand Trading Glend, recently acquired Shell recycling and petrochemical assets in a transaction that ruled out large gas stations.

“We are constantly appreciating the market opportunities, where they are in line with our strategic priorities,” said Asteri spokesman by e-mail.

(Pyporting by Trixie Yap, Liu, Chen Aizhu and Yezhu Ngu;