Exxon Among Suitors for Shell US Chemicals Unit, FT Says

(Bloomberg) -- Shell Plc is attracting interest from several potential buyers for its US chemicals business as the company seeks to divest underperforming assets, the Financial Times reported.

Among the potential bidders to have expressed interest are ExxonMobil Holdings Corp., LyondellBasell Industries NV, Apollo Global Management Inc. and the chemicals arm of Kuwait Petroleum Corp., according to the FT report, which cited unnamed people familiar with the matter.

The portfolio includes major facilities in Louisiana, Texas and Pennsylvania, including the Monaca petrochemicals complex capable of producing as much as 1.6 million tons of polymers annually, the FT said.

The interested parties submitted non-binding indicative offers for the assets last month, including proposed acquisitions of both the whole business and parts of it, according to the report. Cumulatively, the assets could fetch as much as $8 billion, a steep discount to what Shell has invested, the FT said.

Shell declined to comment. The potential bidders listed in the FT report did not immediately respond to requests for comment.

©2026 Bloomberg L.P.