Exxon Mobil has put on hold the sale of its Singapore retail gas station business, according to two sources familiar with the matter.

The process stalled as the sole remaining bidder, Aster Chemicals and Energy, a joint venture between Chandra Asri Group and Glencore, withdrew interest, said one of the sources.

The source added that the withdrawal was due to a disagreement over certain terms and that the sale may be scrapped if no new interest is received. Barclays has been running the deal, as reported.

Chandra Asri earlier this week said there has not been a definitive agreement in its JV’s talks to acquire the target. The statement was made after a newswire reported last week that the JV is finalising deal terms after beating other suitors.

PetroChina’s Singapore Petroleum Company had also expressed interest earlier on in the process.

The sale was launched earlier this January with a USD 1bn valuation goal.

An Exxon Mobil spokesperson said the company does not comment on market rumors or speculation as a matter of practice.

“We remain focused on helping our customers meet their mobility and lifestyle needs. This includes services and product offers such as renewable diesel and EV charging at some of our 58 Esso service stations in Singapore,” said the spokesperson.

Aster Chemicals and Energy continuously evaluates market opportunities in line with its strategic priorities, and does not comment on any speculation as a matter of policy, a spokesperson for Aster said.

Barclays declined to comment.

Besides the Esso service stations, Exxon Mobil also offers fuels, lubricants, and specialties and is a major supplier of cylinder cooking gas in Singapore.