Exxon Eyes Shells $8 Billion U.S. Chemicals Business

Image for article Exxon Eyes Shells $8 Billion U.S. Chemicals Business
News Source : Yahoo Entertainment

News Summary

  • u.s. supermajor is competing with LyondellBasell, Apollo Global Management, and the Kuwait Petroleum Corporation, the Financial Times reports.
  • 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.
  • Shell has made two asset sales recently, one of its onshore wind and solar power business in Europe and the other of a stake in a gas project offshore Cyprus.
  • Shell's chemicals business in the United States comprises four facilities in Louisiana, Texas, and Pennsylvania that make chemicals used in a range of industries.
Exxon is in the running for Shells U.S. chemicals business that could fetch $8 billion, the Financial Times reported today, citing unnamed sources familiar with developments. The U.S.

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