Shell is reportedly exploring a sale of Infineum, its chemicals joint venture with ExxonMobil. Each company owns 50% of the venture. Infineum could be valued at approximately $8 billion.
Shell has appointed advisers at Bank of America to manage the sale process, which reportedly began recently. The process remains in its early stages and may not lead to a transaction. Private equity firms have shown interest.
The potential divestment fits Shell’s broader strategy of selling non-core assets and focusing on its main oil and gas business. Infineum, which is based in the UK, produces lubricant and fuel additives. The move reflects a wider trend among major oil companies to streamline operations, shed peripheral businesses and maximize shareholder value.
Neither Shell nor Bank of America has officially commented.