ExxonMobil has finalized an agreement to sell its retail service station business in Port Moresby, Papua New Guinea, to Star Mountain Service Station Limited. Star Mountain Service Station Limited is a wholly-owned subsidiary of the Mineral Resource Development Company (MRDC). This sale marks a significant change for Mobil Oil New Guinea, concluding a long-standing chapter in the country's fuel industry. The transaction involves the transfer of all Mobil-branded service stations within Port Moresby to the MRDC subsidiary. This acquisition expands MRDC’s involvement in the petroleum retail sector within PNG. Details of the agreement were formalized today, signifying a new era for these stations under local ownership. The news was initially published in the Post Courier.