U.S. oil giant Exxon Mobil Corp is considering the sale of its petrol stations in Singapore, a transaction that could generate approximately $1 billion, according to a report by Bloomberg News on Tuesday, which cited unnamed sources.

Exxon operates 59 petrol stations in Singapore under the Esso brand, as detailed on Esso's official website.

The potential sale would enable Exxon to generate funds for investment in areas with greater growth opportunities, the report indicated, noting that both energy sector players and investment funds have expressed initial interest in the sale.

Exxon has chosen not to comment on the report.

The company has maintained operations in Singapore for over 130 years, with its facilities in the region including a refining complex, a lubricant manufacturing plant, a fuels terminal, and a liquefied petroleum gas (LPG) bottling facility.

If the deal proceeds, it would mark Exxon's second divestiture in Southeast Asia in recent months.

In July, Reuters reported that Exxon had reached an agreement to sell its oil and gas assets in Malaysia to state-owned energy company Petronas, marking its exit from the country's upstream sector where it had previously been a leading producer.