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Exxon’s $8 Billion Shell Bet Could Reshape Its Chemicals Empire!

Exxon Mobil is reportedly among the suitors evaluating Shell’s U.S. chemicals business, a portfolio that could fetch as much as $8 billion and includes major facilities in Louisiana, Texas, and Pennsylvania. The most notable asset is Shell’s Monaca petrochemicals complex, which can produce up to 1.6 million tons of polymers annually. The potential sale is attracting interest from LyondellBasell, Apollo Global Management, and the chemicals arm of Kuwait Petroleum as well, with bidders reportedly submitting non-binding indicative offers for either the entire portfolio or selected assets. For Exxon, however, the opportunity is especially interesting because it arrives at a moment when its own chemicals operations are performing strongly. The company recently reported advantaged North American feedstocks, record first-half reliability, and a roughly 180% sequential increase in chemical product margins.