(Reuters) – Shell is considering a potential sale of its chemicals assets in Europe and the United States, the Wall Street Journal reported on Sunday, citing sources familiar with the matter.
The energy group has hired Morgan Stanley to conduct a strategic review of its chemicals operations, the report said.
Shell declined to comment. Morgan Stanley did not immediately respond to a request for comment outside regular business hours.
The review is in its early stages and Shell has not yet made any definitive decisions regarding a potential sale, the Journal reported, adding that one of the assets included in the review was Shell’s Deer Park facility in Texas.
Last year Shell sold its refining and chemicals hub in Singapore, one of the world’s largest.
The British company warned earlier this year that it expects trading in its chemicals and oil products division to be significantly lower quarter-on-quarter due to lower seasonal demand.
(Reporting by Bipasha Dey in Bengaluru; additional reporting by Gursimran Kaur, Editing by Ros Russell and Jane Merriman)
