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Shell eyes up to $8B for U.S. chemicals portfolio sale

8/24/2026

26 2 Full Breakdown

Summary

Story summary

Shell is advancing the sale of its U.S. chemicals portfolio.
Potential buyers include Exxon Mobil, LyondellBasell, Apollo Global Management and Kuwait Petroleum’s chemicals arm.
Four plants in Louisiana, Texas and Pennsylvania could fetch up to $8 billion.
The $8 billion price is a steep discount to Shell’s $14 billion investment in the Monaca complex.
Non-binding offers were submitted last month for the whole business or selected parts.

History

Historical Context

Dow Chemical’s August 1999 purchase of Union Carbide for $9.3 billion created a second-largest U.S. chemicals group and sparked shareholder concerns over legacy liabilities. The deal set a pattern of large-scale asset swaps, later echoed by Dow’s 2008-09 Rohm & Haas acquisition and the aborted K-Dow joint venture. Today, Shell’s potential sale of Gulf Coast plants to firms such as Exxon Mobil follows that same consolidation trend.

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Story summary

Shell is advancing the sale of its U.S. chemicals portfolio.
Potential buyers include Exxon Mobil, LyondellBasell, Apollo Global Management and Kuwait Petroleum’s chemicals arm.
Four plants in Louisiana, Texas and Pennsylvania could fetch up to $8 billion.
The $8 billion price is a steep discount to Shell’s $14 billion investment in the Monaca complex.
Non-binding offers were submitted last month for the whole business or selected parts.

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