Exxon Mobil Corp (NYSE:XOM, ETR:XONA) is reportedly mulling the $1 billion sale of its gas stations in Singapore in order to turn focus to other high-growth areas.
According to Bloomberg-cited sources, the oil major is working with financial advisors on the potential disposal.
Exxon has 59 gas stations under the Esso brand in Singapore, having operated in the country for over 130 years.
Industry peers and investment funds are among those said to have expressed initial interest in the assets, though final decisions are yet to be made.
Exxon also operates a refinery, liquified petroleum gas bottling site and lubricant plants in Singapore.
Shares ticked up 0.2% in pre-market trading on Tuesday.