What’s the future like for Singapore Site? Seems like we’re in a whole lot of trouble with the aggressive cost cutting.
13 replies (most recent on top)
insider news is usually accurate here, singapore is doom
Exxon said to weigh sale of US$1 bil Singapore gas stations
Oil major Exxon Mobil is considering a sale of its gas stations in Singapore, which could raise about US$1 billion ($1.35 billion), according to people familiar with the matter.
Exxon is working with financial advisers on the potential disposal, the people said, asking not to be identified because the matter is private. Other industry players and investment funds have shown preliminary interest, they added.
A sale of the gas stations in Singapore would allow the US-based company to raise cash to deploy in other areas of higher growth potential, the people said. Considerations are preliminary and no final decisions have been made, they added.
A representative for Exxon declined to comment.
Exxon, which has been operating in Singapore for more than 130 years, has a network of 59 filling stations under the Esso brand.
The oil major’s operations in the city-state also include a refinery, chemical and lubricant plants, a fuels terminal and a liquefied petroleum gas bottling plant.
https://www.theedgesingapore.com/news/oil-gas/exxon-said-weigh-sale-us1-bil-singapore-gas-stations
Beginning of the end.
Even crisp can't turn things around. Project folks just want to finish and leave the burden to sgcx. It's back to 2020 boys
We probably should sell it, but we I think CRISP is the last gasp to make it competitive.
Goodbye Singapore
Sriracha and Altona sites immediately turned profitable once they are sold off. Makes you wonder what’s the issue
Fawley up next
Layoffs
As a worker at a former divested site, you should focus your effort on running the site safely. If and when the sale happens, your knowledge will be respected by the new owner and you'll likely have a better outcome.
Site Competitiveness levels for XOM vs other operators is different. Other operators can make Singapore very profitable and valued in their companies. Embrace the change!
Singapore site is losing money. Make money first.
Darren will sell it.
Someone else’s site.