Exxon Eyes Shell’s $8 Billion U.S. Chemicals Business
Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments.
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Key Facts
- Fact 1: chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments.
- Fact 2: The wind and solar power deal went to TotalEnergies and involved 500 megawatts of combined renewable generation capacity in operation and in development, as well as a pipeline of projects for future development across Italy, the Netherlands, Spain, and the UK.
- Fact 3: The transaction is subject to regulatory approvals and is expected to complete by the end of 2026, Shell said earlier this month in the announcement of the deal with TotalEnergies.
- Fact 4: The Cyprus gas deal went to Hungary’s MOL, comprising a 35% stake in the Cyprus Offshore Block 12, which the Hungarian energy firm bought for $720 million, as Shell focuses on expanding its liquefied natural gas operations.
Exxon is in the running for Shell’s U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments.
The U.S. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the unnamed sources also told the publication. The potential buyers have submitted non-binding offers to Shell, with these ranging from offers to buy parts of the business to offers for the whole division.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: OilPrice.com
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