Exxon Mobil Is Said to Consider Sale of Hong Kong Gas Stations

Exxon Mobil Corp. is exploring a sale of its gasoline station network in Hong Kong, according to people familiar with the matter, as the US oil and gas giant continues to trim its retail footprint globally.

The company, which operates under the Esso brand, may seek a valuation of $500 million to $600 million for the assets, one of the people said. Considerations are ongoing and no final decisions have been made, the people added.

The potential divestment comes at a time of uncertainty for the retail fuel industry. While gas stations have historically provided stable cash flows, the business ...