Aster Chemicals and Energy Pte, a joint venture between Indonesia's Chandra Asri Group and multinational commodity trader Glencore Plc, is negotiating the acquisition of gas stations by the American oil and gas company Exxon Mobil Corp. in Singapore. This is reported by foreign media.
Exxon has engaged a consultant to evaluate a deal to sell a network of 59 gas stations in Singapore, which could cost $1 billion. The asset sale will allow Exxon to exit Singapore's retail fuel sector. In 2023, Exxon sold gas stations in Thailand for $603 million.
The Chandra Asri and Glencore joint venture is engaged in asset purchase transactions, including the acquisition of Shell Plc's Singapore oil refining and chemical assets in April 2025. In May, the company acquired Chevron Phillips Singapore Chemicals Pte, which owns and operates a polyethylene manufacturing facility on Singapore's Jurong Island.
In April 2025, Aster Chemicals announced its intention to apply for the purchase of Exxon Mobil gas stations in Singapore for $1 billion. Private investment companies and asset managers have shown interest in the deal.
Exxon has been present in Singapore for more than 130 years in the fuel sales sector under the Esso brand. Singapore also has an oil refinery, plants for the production of chemicals and lubricants, a fuel terminal and a liquefied petroleum gas bottling plant. ExxonMobil Asia Pacific Pte's investments in fixed assets in Singapore exceed 25 billion Singapore dollars ($19.5 billion).
Chandra Asri Group is an Indonesian supplier of energy, chemical and infrastructure solutions in Southeast Asia. The company specializes in the production of petrochemical products and offers infrastructure services in various sectors of the economy. The company owns a petrochemical complex in Southeast Asia, which includes a naphtha processing plant and a complex of infrastructure and energy services. The headquarters is located in Jakarta (Indonesia).
Glencore is a Swiss trading, logistics and mining company and one of the world's largest suppliers of minerals, non—ferrous metals and energy resources. The headquarters are located in Baar (Switzerland) and London (England).
Exxon Mobil Corporation is one of the largest multinational oil and gas companies in the world by market capitalization ($400 billion). The company is engaged in the exploration, production, refining and marketing of oil and natural gas, including the sale of lubricants under the Mobil brand and fuels under the Exxon, Mobil and Esso brands. The main oil reserves are in Asia and the USA, while natural gas reserves are in the USA, Australia, Asia and Europe. The headquarters is located in Irving, Texas.
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