Shell's U.S. chemical assets are drawing significant interest from potential buyers, including major players like Exxon and LyondellBasell. The Financial Times reported on Monday, August 24, 2026, that these assets could fetch as much as $8 billion. This divestment aligns with a broader trend of energy companies reassessing their portfolios and optimizing their chemical operations.
Additional interested parties in Shell's chemical assets include the private equity firm Apollo and the chemicals division of the state-owned Kuwait Petroleum Corporation. This diverse group of bidders suggests strong market demand for well-positioned chemical assets, despite potential headwinds in the broader chemicals industry.
The potential sale follows similar strategic moves in the chemicals sector. ExxonMobil itself is reportedly considering the sale of its chemical plants in the UK and Belgium, a divestment potentially worth up to $1 billion. This move comes amid increasing strain on Europe's chemical industry, facing challenges from U.S. tariffs, rising Asian competition, and the slow recovery from the 2022 energy crisis. Separately, chemical maker Ashland is exploring a potential sale after receiving takeover interest, with private equity firms such as Advent, Apollo Global Management, and Carlyle Group having reportedly made contact. Chevron is also said to be open to acquiring Phillips 66's chemical stake, indicating a dynamic M&A landscape in the chemical industry.
