Shell mulls over sale of European, US chemicals assets, WSJ reports
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Shell warned earlier in 2025 that it expects trading in its chemicals and oil products division to be significantly lower quarter on quarter due to lower seasonal demand.
PHOTO: REUTERS
BENGALURU – Shell is considering a potential sale of its chemicals assets in Europe and the US, The Wall Street Journal (WSJ) reported on March 2, citing sources familiar with the matter.
The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said.
Shell and Morgan Stanley declined to comment.
Potential buyers could include private equity firms and Middle Eastern entities seeking to expand their Western presence, according to the newspaper.
The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, WSJ reported, adding that one of the assets included in the review is Shell’s Deer Park facility in Texas.
The Deer Park operation is adjacent to a refinery that Shell previously sold its 100 per cent stake in to its joint-venture partner, Mexican state oil firm Pemex.
In 2024, Shell sold its refining and chemicals hub in Singapore
The British company warned earlier in 2025 that it expects trading in its chemicals and oil products division to be significantly lower quarter on quarter due to lower seasonal demand.
Shell CEO Wael Sawan has been focused on cutting costs and pivoting the company back to its most profitable sectors – oil, gas and biofuels – while shifting away from renewable power.
In December 2024, Reuters reported exclusively that the oil major is stepping back from new offshore wind investments and is splitting its power division after a review of the business that was once seen as a key driver of the company’s energy transition strategy. REUTERS
