Shell considers $8 billion sale of US chemical assets

Shell is considering the sale of its chemical business operations in the United States, attracting interest from several major industry players. Potential bidders include ExxonMobil Holdings Corp., LyondellBasell Industries NV, Apollo Global Management Inc., and the chemical arm of Kuwait Petroleum Corp.

The portfolio under negotiation includes large-scale facilities located in Louisiana, Texas, and Pennsylvania, such as the Monaca petrochemical complex, which has a potential annual production capacity of up to 1.6 million tons of polymers. Interested parties submitted non-binding indicative offers last month for either the entire business or specific segments.

The sale could yield Shell up to $8 billion, though this figure represents a significant discount compared to the company’s previous investments in these activities. This move is part of a broader strategic restructuring as Shell seeks to divest from underperforming or non-core assets to redirect capital toward the energy transition and shareholder returns. Meanwhile, competitors are looking to acquire these assets to gain scale and leverage low-cost shale gas resources in the southern United States.