Shell is evaluating a potential sale of its chemical assets in Europe and the United States, according to sources familiar with the subject. The operation is part of a continuous effort to reorient its business towards more profitable operations.
The natural oil and natural gas company is working with Morgan Stanley in a strategic review of its chemical operations, the sources said. The process is in the early stages and Shell has not yet committed to any final decision, they added.
Among the assets included in the assessment is the installation of Deer Park in Texas. There, shell produces a variety of chemicals, such as light and heavy olefins, which can be used in the manufacture of pharmaceuticals, detergents, stickers and wire coatings. The operation is located next to a refinery, from which Shell has previously sold its participation.
Shell also has chemical installations in Pennsylvania and Louisiana, USA. In Europe, operates in the United Kingdom, Germany and the Netherlands.
Potential assets interested in private equity companies to buyers of the Middle East wishing to expand to the West.
