Shell Seeks $8 Billion Sale of US Chemicals Business

Shell Plc is seeking to sell its underperforming US chemicals business, with assets estimated to be worth as much as $8 billion. This valuation represents a significant discount compared to the company's original investment in the portfolio.

Several potential buyers submitted non-binding indicative offers last month, including ExxonMobil Holdings Corp., LyondellBasell Industries NV, Apollo Global Management Inc., and the chemicals arm of Kuwait Petroleum Corp. These proposals varied, with some parties bidding for the entire business and others targeting specific segments.

The portfolio includes major facilities located in Louisiana, Texas, and Pennsylvania. A central asset in the sale is the Monaca petrochemicals complex, which possesses the capacity to produce up to 1.6 million tons of polymers annually.