06:49 AM EST, 12/03/2024 (MT Newswires) -- Exxon Mobil ( XOM ) is exploring the sale of its downstream business in Singapore, potentially valued at $1 billion, Bloomberg reported Tuesday, citing people familiar with the matter.

The company is working with financial advisers on the deal, with interest from industry peers and investment funds, the news outlet reported.

Sources told Bloomberg that no final decisions have been made, and the process is still in the preliminary stages. The company operates a network of 59 filling stations under the Esso brand in Singapore.

Exxon Mobil ( XOM ) did not immediately respond to MT Newswires' request for comment.

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