Chandra Asri to buy ExxonMobil's Esso petrol stations in Singapore

Indonesia’s Chandra Asri Pacific is acquiring ExxonMobil’s network of Esso-branded petrol stations in Singapore as it expands its operations in the Republic.

- Ann Williams Assistant Business Editor

Chandra Asri will continue to sell Esso-branded fuels and operate the service stations under the Esso brand, Ms Geraldine Chin, chairman and managing director of ExxonMobil Asia Pacific, said on Oct 24 in response to queries from The Straits Times.

The deal includes Esso’s 60 petrol stations here and the associated supply agreements.

The purchase price was not disclosed, but sources told Bloomberg in December 2024 that such a sale could raise about US$1 billion (S$1.3 billion).

Ms Chin said the company aims to close the sale before the year end, subject to regulatory approvals and other matters.

“We anticipate business as usual during the transition period and will work with Chandra Asri to provide a smooth experience for our customers, including continued recognition of loyalty programme benefits,” she said.