ExxonMobil Eyes $1 Billion Sale of European Chemical Plants

ExxonMobil plans to sell its chemical facilities in the UK and Belgium in response to economic pressures from U.S. tariffs and Chinese competition. The sales could potentially generate $1 billion. Discussions with advisors are in early stages, and ExxonMobil has not commented on the proceedings.

ExxonMobil is reportedly contemplating the sale of its European chemical plants located in the UK and Belgium, as the industry struggles with the repercussions of U.S. tariffs and increased competition from China, according to sources quoted by the Financial Times on Thursday.

The leading U.S. energy company has engaged in preliminary talks with advisers in recent weeks to discuss potential sales, which could yield up to $1 billion, the newspaper reported. However, Reuters has not been able to independently verify this information.

As of now, ExxonMobil has not provided any comments in response to Reuters' inquiry submitted outside of regular business hours.

(With inputs from agencies.)