Shell plc is evaluating the potential sale of some of its chemical operations in the U.S. and Europe as it sharpens its focus on the most profitable parts of its business, The Wall Street Journal said on Sunday citing sources close to the matter.
Sources said the company has enlisted Morgan Stanley to assess its chemical assets, though no final decision has been made, sources say. Among the facilities under review is Shell’s Deer Park site in Texas, which manufactures chemicals used in pharmaceuticals, adhesives, and other products. The plant is next to a refinery that Shell previously divested.
Investors are anticipating more details at an upcoming company event later this month.
