On March 2nd, The Wall Street Journal cited sources with knowledge of the matter, stating that Shell is considering selling its chemical assets in Europe and the United States. It is reported that the energy group has hired Morgan Stanley to conduct a strategic review of its chemical business. The report also mentioned that potential buyers may include private equity firms and Middle Eastern entities seeking to expand their production capacity in the West. In the United States, Shell operates chemical complexes in Deer Park, Texas, Geismar and Norco, Louisiana, and Monaca, Pennsylvania, and stated that it stabilized production in 2024. In Europe, Shell operates chemical complexes in Rheinland, Germany, Moerdijk, the Netherlands, and Mossmoran, UK.

Shell's Moerdijk chemical complex in the Netherlands is located between the major ports of Rotterdam and Antwerp and is closely integrated with Shell Pernis, Europe's largest refinery. Shell Chemicals Netherlands produces polyols under the Caradol brand with an annual capacity of 255,000 tonnes.

Shell also produces polyols in China, including through a 50-50 joint venture with CNOOC, as well as through Shell Jurong Island Singapore, which produces 340,000 tonnes of polyols and propylene oxide annually for use in producing a range of chemical derivatives, including polyols. The company also plans to expand its chemical business in China through a joint venture with CNOOC in Daya Bay, near Huizhou.

Since 2023, Shell has been undergoing a strategic review, which includes asset evaluations and potential divestments, as well as restrictions on future investments in Singapore and Europe.