Selling Shell Mulls of European Chemical Assets, United States, WSJ reports

(Reuters) -Shell is considering a possible sale of the origins of chemicals in Europe and the United States, according to the Wall Street Journal on Sunday, noting familiar sources.

The report said that the energy group had rented Morgan Stanley for a strategic review of chemical operations.

Shell refused to comment. Morgan Stanley did not immediately respond to the request for comment outside the regular working hours.

Potential buyers include private stock companies and Middle East entities seeking to expand their western presence, according to the newspaper.

The magazine stated that the review was in its early stages and did not take any final decisions regarding the potential sale, adding that one of the assets listed in the review was the Shals Deir Park facility in Texas.

Deer Park is located next to a refinery where Shell previously sold its share 100 % to its joint partner, the Mexican Oil Company Peex.

Shall sold the refining center and chemicals in Singapore, one of the largest world.

The British company warned earlier this year that it expects trading in the chemical and oil products department be much lower than a quarter of a quarter due to the low seasonal demand.

Shell, CEO of Shell Will SAN, has focused on reducing costs and achieving the company again to its most profitable sectors – oil, gas and biofuels – with a move away from renewable energy.

Last December, Reuters stated exclusively that the oil specialization was returning from the new external wind investments and dividing its energy department after reviewing the business that was once seen as a major engine of the company’s energy transmission strategy.

(Bipasha Dey coverage in Bangaluru; additional reports from Gursimran Kau, edited by Jin Meriman and Russias))