Shell is advancing the sale of its U.S. chemical assets, which could fetch up to $8 billion, as the British energy major seeks to exit underperforming operations. Potential bidders include Exxon Mobil, LyondellBasell, private equity group Apollo and the chemicals arm of Kuwait Petroleum Corporation. Non-binding offers were submitted last month. The portfolio includes four plants across Louisiana, Texas and Pennsylvania, including Shell's Monaca complex in Pennsylvania, which began operating in 2022 after Shell invested about $14 billion and has annual polymer production capacity of up to 1.6 million tonnes. A potential sale price would represent a significant discount to Shell's investment in the U.S. facilities, raising the possibility of a writedown while potentially generating cash and improving capital efficiency. Shell has also begun working with advisers to market its European chemical assets, which are expected to command a substantially lower value. The sales form part of Shell's broader effort to reduce underperforming and non-core businesses, including chemicals and renewable energy, while focusing on profitable upstream operations and trading. The outcome will be watched as an indicator of Shell's capital allocation strategy amid global chemical oversupply and weak demand.