Chandra Asri Group to acquire ExxonMobil’s Esso network in Singapore

The move aligns with the group’s strategy to build an integrated energy and mobility platform across Southeast Asia.

Indonesia’s PT Chandra Asri Pacific Tbk has signed an agreement to acquire ExxonMobil’s network of around 59 Esso-branded service stations in Singapore, marking its entry into the city-state’s retail fuel market and expanding its regional energy presence.

The deal, conducted through a special purpose vehicle under Chandra Asri’s wholly owned subsidiary, aligns with the group’s strategy to build an integrated energy and mobility platform across Southeast Asia. Known for its petrochemical and infrastructure operations, Chandra Asri aims to strengthen its downstream capabilities and establish a larger foothold in energy distribution.

President Director and CEO Erwin Ciputra said the move reflects the company’s ambition to develop “an integrated platform for regional growth,” citing Singapore’s strong business environment and strategic role as a regional energy hub.

Under the agreement, Chandra Asri will retain the Esso brand, continue sourcing fuels from ExxonMobil, and preserve existing loyalty programs and staff. The company plans to leverage its partnership with Aster and its integrated refinery and downstream operations to bolster Singapore’s energy resilience and competitiveness.