Shell petrol stations were bought over by Indonesian company under Aster. Don't get excited
actually shell divested the refinery, but retained the retail petrol stations. nevertheless, with rising wholesale fuel prices, their margins may be under pressure, or not, depending on supply contracts and duration.
quote:
Shell did not sell its retail fuel stations in Singapore to Aster Chemicals, as the April 2025 sale of Shell's Singapore refining and chemical assets to the Chandra Asri-Glencore joint venture (Aster Chemicals and Energy)
explicitly excluded the energy major's petrol stations.
While
Shell completed the sale of its Bukom and Jurong Island refining and petrochemical facilities to Aster on April 1, 2025,
Shell continues to operate its network of approximately 57-58 retail fuel stations in Singapore and plans to expand its retail business and invest in electric vehicle charging infrastructure.
Conversely,
Aster Chemicals and Energy has acquired Exxon Mobil's network of Esso-branded retail petrol stations in Singapore, with the deal announced in October 2025 and expected to close by the end of the year. This acquisition, valued at roughly
$1 billion, marks Exxon's exit from Singapore's retail fuel sector, whereas Shell retained its own retail operations while divesting its upstream refining and chemical assets.