Shell and ExxonMobil intend to sell Infineum joint venture for $8 billion

Shell and ExxonMobil are considering selling Infineum, a lubricant additives joint venture, for up to $8 billion, according to reports. The potential sale aligns with Shell's strategy to focus on core oil and gas operations. The lubricant additives market is evolving due to electric vehicle growth and changing lubricant requirements. Bank of America is reportedly advising on the transaction, which is at an early stage and may not be completed.

Shell and ExxonMobil are considering selling their joint venture, Infineum, with a potential valuation of $8 billion, according to the Financial Times. The sale process is in early stages and may not lead to a deal.

Shell and ExxonMobil are exploring the sale of their UK-based joint venture, Infineum, at a potential $8 billion valuation. The company generates $700M-$800M in annual EBITDA. Bank of America is advising on the process, which is in early stages and may not result in a transaction.

Shell and partners approved a $2B investment to expand LNG Canada's capacity to 28M tonnes per year. Canada aims to export 33M tonnes annually by 2030, targeting Asia's growing demand. Competition is increasing from US, Africa, and Latin America projects.

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.