Overview
- Several strategic and financial buyers have submitted non-binding proposals for Shell’s U.S. chemicals portfolio, with price indications reaching roughly $8 billion.
- Potential bidders named in reports include ExxonMobil, LyondellBasell, Apollo Global Management and the chemicals arm of Kuwait Petroleum Corporation.
- The assets on offer are four U.S. chemical plants in Louisiana, Texas and Pennsylvania, notably the Monaca complex that began operations in 2022 after about $14 billion of Shell investment.
- The sale is part of a wider push begun at Shell’s 2025 Capital Markets Day to reallocate capital away from underperforming chemicals and some renewables toward higher-return oil, gas and LNG projects.
- Offers are non-binding and subject to due diligence and regulatory review, so any deal could be repriced or fall apart and would shape Shell’s balance sheet, local jobs and whether rivals expand downstream integration.