By Ben Dummett
Shell signaled the possible sale of its least parts of its chemicals business, as it seeks to bolster its share price and close the valuation gap with U.S. rivals such as Exxon and Chevron.
The oil-and-gas major said Tuesday that it will explore strategic and partnership opportunities for its chemicals operations in the U.S. It said it was looking for ways to boost margins and close underperforming facilities in Europe.
That plan confirms an earlier Wall Street Journal report. It was part of a slew of shareholder-friendly measures unveiled before an investor briefing, or capital-markets day, due later Tuesday.
In London, Shell stock recently stood nearly 2% higher.
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(END) Dow Jones Newswires
March 25, 2025 05:39 ET (09:39 GMT)
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