Exxon, Lyondell Among Suitors for Shell's US Chemical Assets, Could Fetch $8 Billion, FT Reports
Potential buyers have submitted non-binding offers for the division, which could fetch about $8 billion, sources said.
- ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation are bidding for Shell's United States chemical assets, a deal potentially worth $8 billion, the Financial Times reported on Monday.
- Shell's United States chemicals unit comprises four facilities in Louisiana, Texas, and Pennsylvania. Potential buyers submitted non-binding offers last month for either the entire division or specific parts.
- Shell seeks to divest underperforming chemical plants to sharpen its focus on upstream operations and trading, aligning with the company's year-long portfolio adjustment strategy.
- Earlier this month, Shell agreed to sell its European renewables power business to TotalEnergies, continuing to scale back low-carbon investments following a pledge made during Capital Markets Day 2025.
- Despite the chemicals business contributing $9.84 billion to second-quarter results, the reported $8 billion sale price represents a steep discount to capital Shell has invested in the facilities, according to the Financial Times.
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Shell could sell U.S. chemicals division for $8 billion as it refocuses on oil and gas
Shell has attracted interest from several potential buyers for its chemical business in the United States, according to the Financial Times. Among those reportedly considering a deal are ExxonMobil, LyondellBasell and investment firm Apollo, sources told the newspaper. Shell could raise around $8 billion by selling its U.S. chemical assets, the Financial Times reports. However, the company has not yet decided whether it will proceed with a sale.
Shell has aroused the interest of several potential buyers, including ExxonMobil and LyondellBasell, for the chemical assets in the United States (USA), which could be worth up to eight billion dollars (6.85 billion euros), reported Financial Times, this Monday, August 24. The company of private equity Apollo Global Management and the division of chemicals of the state Kuwait Petroleum Corporation have also expressed interest, according to sourc…
Exxon Eyes Shell’s $8 Billion U.S. Chemicals Business
Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments. The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the unnamed sources also told the publication. The potential buyers have submitted non-binding offers to Shell, with these ranging from offers to buy parts…
Several parties are interested in acquiring Shell's US chemical operations, according to the business newspaper Financial Times. These include companies such as ExxonMobil, LyondellBasell, and investment firm Apollo, which have expressed interest to Shell, sources told the British newspaper.
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