Shell- and Exxon-backed U.K. chemicals unit exploring $8B sale - FT (SHEL:NYSE)

Shell has set a new benchmark for product tanker charters with a one-year deal in Singapore, reaching a record $45,000 per day. Karrie Trauth, head of Shell’s shipping and maritime division, is involved in the agreement. This development highlights the current state of the tanker charter market.

Infineum, a joint venture between Shell and ExxonMobil, is reportedly exploring an $8 billion sale. The company, which produces specialty chemicals for lubricants and fuels, was founded in 1999. Shell and ExxonMobil each own 50% of the business. The sale is not yet confirmed, and details such as the final price and terms remain uncertain.

An arbitration court dismissed $12B of Kazakhstan's claims against ExxonMobil (XOM) over the Kashagan oil field, though $8B in claims remain. The ruling may impact ExxonMobil's future investments. XOM offers a 2.33% dividend yield, a 53% payout ratio, and a 3-year dividend growth rate of 4.1%, but its stock is 31% overvalued according to GF Value™.

An arbitration court dismissed ~$12B of Kazakhstan's claims against ExxonMobil (XOM) and others over disputed Kashagan oil field costs, per Bloomberg. The government sought ~$20B in total.

Shell PLC (SHEL) and ExxonMobil are selling their chemicals joint venture, Infineum, for ~$8B. Shell's dividend yield is 3.0% with a 31% payout ratio and 7.8% growth rate. SHEL's GF Score is 72/100, indicating strong financial health but moderate growth. 16 gurus hold SHEL, with mixed recent activity.

Shell and ExxonMobil's joint venture, Infineum, is exploring an $8B sale, according to the Financial Times. The specialty chemicals company, which generates $700M-$800M in annual EBITDA, has engaged Bank of America to run the sale process, targeting private equity buyers.