ExxonMobil Considers Selling Hong Kong Fuel Stations Amid Market Challenges
ExxonMobil is in talks to sell its Hong Kong fuel-station network, potentially fetching $500 million to $600 million. The move comes amid challenges from transport electrification and oil price volatility, and ahead of its May 1 earnings report, which is expected to show a profit decline due to downstream losses. The company is also advancing its Golden Pass LNG project in Texas.
Tickers: $XOM
Topics: asset sale ExxonMobil Hong Kong fuel stations LNG production oil industry