Exxon Considering Bid for Shell's $8 Billion U.S. Chemicals Business
Exxon is reportedly among the companies vying to acquire Royal Dutch Shell’s U.S. chemicals business, which could be valued at around $8 billion. According to a Financial Times report citing unnamed sources, Exxon has submitted non-binding offers alongside competitors like LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation. The target includes four chemical facilities in Louisiana, Texas, and Pennsylvania that produce materials for industries such as plastics and detergents. Shell recently sold two major assets—its European onshore wind and solar business to TotalEnergies and a stake in an offshore gas project in Cyprus to Hungary’s MOL—as part of its strategy to reallocate capital toward higher-value opportunities. The chemicals division has been performing well, contributing significantly to Shell's second-quarter earnings. The potential sale is another step in Shell’s broader portfolio adjustment plan announced at its Capital Markets Day 2025.
