Shell's Deer Park, Texas, facility, which manufactures a range of olefins essential for pharmaceuticals, adhesives, and detergents, is among the assets being considered for sale.
This potential sale is part of a strategic review of Shell's chemical operations in Europe and the US, managed by Morgan Stanley, according to Offshore Technology.
The Deer Park plant is located next to the refinery where Shell recently sold its ownership to Pemex. In addition to Deer Park, Shell's chemical portfolio includes facilities in Pennsylvania, Louisiana, the UK, Germany, and the Netherlands.
The review of Shell’s chemicals operations could attract interest from private equity and Middle Eastern companies. This move is part of CEO Wael Sawan’s strategy to focus on high-margin businesses, pivoting away from renewable power and towards oil, gas and biofuels.
The company’s shift in strategy has already led to the sale of its Singapore chemicals park and a refocusing on its core profitable sectors.
