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● TRACKER Updated 21d ago · 8 sources tracked

Exxon, Lyondell among suitors for Shell's US chemical assets, could fetch $8 billion, FT reports

Shell is exploring the sale of its US chemicals business, with ExxonMobil and LyondellBasell among the industry players reportedly submitting offers. The assets could fetch $8 billion. This divestment follows a pattern of Shell selling renewables and gas projects to refine its asset mix. The company is prioritizing liquefied natural gas operations and seeking to offload underperforming chemical plants as part of a strategic shift toward a sharper oil and gas focus.

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⚡ Key Developments & Real-Time Context
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  • ✓ Shell is exploring a potential sale of its US chemicals business.
  • ✓ ExxonMobil and LyondellBasell are among the suitors for the assets.
  • ✓ The sale of the US chemical assets could fetch $8 billion.
🛡️ Source Corroboration: 8 independent reporting domains (90% confidence) ⏱ Read time: ~2 min

What changed

ExxonMobil and LyondellBasell are specifically identified as bidders for the $8 billion asset sale.

Live updates

  1. Exxon and LyondellBasell emerge as suitors for Shell US chemical assets

    Shell is exploring the sale of its US chemicals business, with ExxonMobil and LyondellBasell among the industry players reportedly submitting offers. The assets could fetch $8 billion. This divestment follows a pattern of Shell selling renewables and gas projects to refine its asset mix. The company is prioritizing liquefied natural gas operations and seeking to offload underperforming chemical plants as part of a strategic shift toward a sharper oil and gas focus.

    Why it matters

    The move reflects a broader industry trend of energy majors streamlining portfolios to maximize returns. By exiting US chemicals, Shell aims to reduce exposure to underperforming assets. This transition aligns with the company's current emphasis on its LNG portfolio.

    What is confirmed

    • Shell is exploring a potential sale of its US chemicals business.
    • ExxonMobil and LyondellBasell are among the suitors for the assets.
    • The sale of the US chemical assets could fetch $8 billion.

    Still unconfirmed

    • Shell is divesting the assets specifically because the chemical plants are underperforming.
    • Other large industry players have submitted offers for the business.

    What to watch next

    • Confirmation of a final sale price
    • Announcement of the winning bidder
    • Details on how the proceeds will be reinvested into LNG operations
    Sources used for this update (10)
    1. Reuters — Exxon, Lyondell among suitors for Shell's US chemical assets, could fetch $8 billion, FT reports
    2. Financial Times — Shell draws Exxon interest in $8bn US chemical assets sale
    3. Yahoo Finance — ExxonMobil Is Eyeing a Potential $8 Billion Bet on Shell's U.S. Chemical Plants. Here's What It Means for XOM Stock.
    4. Bloomberg.com — Exxon Among Suitors for Shell US Chemicals Unit, Report Says
    5. Crude Oil Prices Today | OilPrice.com — Exxon Eyes Shell's $8 Billion U.S. Chemicals Business
    6. www.businesstimes.com.sg — Exxon, Lyondell among suitors for Shell’s US chemical assets which could fetch US$8 billion, FT reports
    7. finance.yahoo.com — ExxonMobil Is Eyeing a Potential $8 Billion Bet on Shell's U.S. Chemical Plants. Here's What It Means for XOM Stock.
    8. finance.yahoo.com — Shell (LSE:SHEL) Weighs U.S. Chemicals Exit As Industry Bidders Circle
    9. www.hydrocarbonprocessing.com — ExxonMobil, LyondellBasell among suitors for Shell's U.S. chemical assets, could fetch $8 B
    10. finance.yahoo.com — Shell's $8B Chemicals Exit Signals a Sharper Oil and Gas Focus
    confidence 90%
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