SignalEU/UK

Shell and Exxon are putting their $8B UK chemicals joint venture up for sale. The read-through is portfolio pruning and capital discipline, not growth; buyers and price will decide the signal. $SHEL $

Shell and Exxon's $8bn UK chemicals unit sale signals major asset divestment.

Context

What happened: Shell and Exxon's UK chemicals unit Infineum has been put up for sale, with advisers at Bank of America running the process as Shell focuses on core oil and gas operations. Key numbers: The unit is valued at $8bn. Why it matters: The sale reflects Shell's move to concentrate on core oil and gas operations rather than the chemicals business.

XOM

$164.47

-0.16%

What changed

Shell and Exxon's UK chemicals unit Infineum has been put up for sale, with advisers at Bank of America running the process as Shell focuses on core oil and gas operations.

Why it matters

The sale reflects Shell's move to concentrate on core oil and gas operations rather than the chemicals business.

Sources