Shell plc received non-binding offers for its U.S. chemical assets from ExxonMobil and LyondellBasell last month. These assets carry a potential valuation of $8 billion. Other interested parties include Apollo and a division of Kuwait Petroleum Corporation.
CEO Wael Sawan is executing a strategy to divest underperforming segments to refocus on profitable oil and gas operations. Sawan previously noted that Shell has significant capital tied up in struggling chemicals and renewables businesses.
While a final deal is not guaranteed, the interest from major industry competitors underscores the potential value of the U.S. portfolio.