Shell Considers Sale of U.S. Chemicals Business, Exxon Mobil Among Bidders

Shell Plc is marketing its U.S. chemicals business, a package that includes four plants in Louisiana, Texas and Pennsylvania. The Financial Times reports the assets could fetch as much as $8 billion, and Exxon Mobil has submitted a non-binding indicative offer alongside other interested parties. Bids were submitted last month and range from proposals for the entire division to offers for selected facilities.

Exxon Among Suitors for Shell US Chemicals Unit, FT Says

The sale follows recent divestments by Shell aimed at reshaping its portfolio. Earlier this year the company agreed to sell its on-shore wind and solar assets in Europe to TotalEnergies, covering 500 MW of renewable capacity. Shell also sold a 35 % stake in the Cyprus Offshore Block 12 to MOL for $720 million, signalling a shift toward expanding its LNG operations. Since its Capital Markets Day 2025, Shell has said it will allocate capital to areas that deliver the strongest long-term value, with asset sales a key part of that strategy.

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• Facility count: Four chemical plants in Louisiana, Texas and Pennsylvania.

Shell Asset Sale Draws Exxon, Lyondell, And More

• Monaca complex (Pennsylvania): Began operations in 2022 after an investment of roughly $14 billion; capable of producing up to 1.6 million tonnes of polymers per year.

Shell Asset Sale Draws Exxon, Lyondell, And More

• Potential valuation: Up to $8 billion, described by the Financial Times as a “steep discount” to the capital Shell has deployed in the U.S. assets.

Shell Asset Sale Draws Exxon, Lyondell, And More

• Other interested bidders: LyondellBasell Industries NV, Apollo Global Management Inc., and the chemicals arm of Kuwait Petroleum Corporation.

Shell's U.S. Chemical Assets Draw Interest from Exxon, Others; Sale Could Reach $8 Billion — BigGo Finance

Shell declined to comment on the sale process when approached by reporters. The companies named as potential buyers—Exxon Mobil, LyondellBasell, Apollo Global Management and Kuwait Petroleum Corporation—also did not provide immediate responses. Shell’s earlier public statements emphasized a commitment to adjust its power portfolio and focus on high-value opportunities, a rationale that underpins the current divestiture effort.

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

The transaction could reshape the North American chemicals landscape by transferring ownership of key polymer-production capacity to a major integrated oil major. If Exxon Mobil acquires the assets, it would expand its downstream footprint and potentially enhance its competitiveness in plastics and specialty chemicals. For Shell, the sale aligns with a broader strategy to exit underperforming segments and concentrate on upstream LNG and trading activities. The discounted valuation highlights market pressure on legacy chemical assets that have struggled to meet performance expectations.

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

All available reports present a consistent picture of the assets, the interested parties and the estimated price range. No source provides a definitive final offer amount or a confirmed timeline for completion, leaving the ultimate sale price and closing date uncertain.

Shell Asset Sale Draws Exxon, Lyondell, And More

The sale will require regulatory approvals in the United States before any transaction can be finalized. Shell is simultaneously preparing a separate marketing effort for its European chemicals assets, which the Financial Times expects to attract a lower valuation than the U.S. portfolio. The outcome of both processes will determine the future composition of Shell’s chemicals business and its overall strategic focus.

Shell Asset Sale Draws Exxon, Lyondell, And More