Exxon and Lundell Basil bid for $8B Shell assets

ExxonMobil and LyondellBasell are competing to buy Shell's chemical assets in the United States, which are estimated to be worth around $8 billion. The assets include manufacturing plants in Louisiana, Texas, and Pennsylvania, producing chemicals used in the production of plastics, detergents, and pharmaceuticals. Potential buyers submitted non-binding offers last month, with the deal facing a significant reduction in value compared to Shell's previous investment. Shell is seeking to develop its operations and focus on other sectors after agreeing to sell its European renewable energy business.

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