Shell is pressing ahead with its divestment program, with its U.S. chemicals business drawing multiple bidders. ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation are all competing for the unit, valued at up to $8 billion. The sale extends Shell's recent divestitures in Europe and Cyprus, sharpening its focus on higher-value assets such as liquefied natural gas.
- Shell's U.S. chemicals business, valued at up to $8 billion, has entered a bidding phase with four contenders including ExxonMobil.
- The assets comprise four facilities in Louisiana, Texas, and Pennsylvania producing chemicals for plastics and detergents.
- The sale continues Shell's strategy of divesting underperforming operations and pivoting toward higher-value assets like LNG.