ExxonMobil is reportedly considering the sale of its European chemical plants located in the UK and Belgium, according to the Financial Times. This potential divestment comes as the sector faces impacts from U.S. tariffs and competition from China.
This move would align with ExxonMobil's ongoing strategy to high-grade its portfolio and optimize its chemical business. By offloading less competitive assets, the company aims to enhance overall profitability and capital efficiency.
The potential sale indicates a strategic re-evaluation of its European chemical footprint, allowing for a greater focus on more advantaged assets globally. Any proceeds from such a divestment could be reinvested into core growth areas or returned to shareholders.
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