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Finance

Shell- and Exxon-backed UK chemicals group weighs $8 billion sale, FT reports

Published by Global Banking & Finance Review

Posted on October 22, 2026

1 min read

· Last updated: October 22, 2026

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Shell and Exxon Weigh $8 Billion Sale of Infineum, UK Chemicals Group

Overview of Infineum Sale Considerations

Background and Ownership Structure

Oct 22 (Reuters) - Infineum, a UK-based chemicals group backed by Shell, is exploring an $8 billion sale, the Financial Times reported on Thursday, as the energy major tries to refocus on its core oil and gas operations.

Joint Venture Details

The chemicals group, which is owned by Shell and ExxonMobil as a 50:50 joint venture, has tapped advisers at Bank of America to run a sale of the business, the report said, citing people familiar with the matter. 

Valuation and Potential Buyers

Sale Valuation

The companies are aiming for a roughly $8 billion valuation from a sale that could attract interest from private equity suitors, the report said, adding that the process remains in the early stages and may not result in a transaction. 

Market Interest and Transaction Status

Shell declined to comment on the report, while Exxon, Infineum and Bank of America did not immediately respond to requests for comment.

Reporting and Editorial Credits

(Reporting by Yamini Kalia in Bengaluru; Editing by Maju Samuel and Devika Syamnath)

Key Takeaways

  • Infineum, a joint venture between Shell and ExxonMobil formed in 1999, specializes in petroleum fuel and lubricant additives, with global operations across Europe, Asia and the Americas (infineum.com).
  • The potential sale signals Shell’s strategic move to refocus on core oil and gas operations, slimming its portfolio of non-core chemical assets (marketscreener.com).
  • Although private equity interest may emerge, the process is at an early stage; past attempts to sell Infineum (e.g., in 2008) were abandoned due to pricing and financing challenges, highlighting risks (energyintel.com).

References

Frequently Asked Questions

Who owns Infineum?
Infineum is jointly owned by Shell and ExxonMobil as a 50:50 joint venture.
What is the estimated valuation for Infineum's sale?
Shell and ExxonMobil are seeking a roughly $8 billion valuation for Infineum.
Which bank has been tapped to advise on Infineum's sale?
Bank of America has been appointed to advise on the potential sale of Infineum.
Is the sale of Infineum confirmed?
The process is in early stages and may not result in a transaction.
Why is Shell considering the sale of Infineum?
Shell is looking to refocus on its core oil and gas operations.

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