US energy major ExxonMobil is considering divesting its chemical operations in Belgium and the United Kingdom, according to the Financial Times.
Sources cited by the paper say the group has held preliminary talks with potential buyers, with a possible deal value of up to 1 billion dollars.
In Belgium, ExxonMobil operates polyethylene plants in Zwijndrecht and Meerhout as well as a petrochemical site in the Port of Antwerp.
The company’s UK footprint includes an ethylene plant in Fife, Scotland. It remains unclear which Belgian assets may be put on the block. ExxonMobil declined to comment on “rumours or speculation.”
The potential divestment comes amid mounting pressure on Europe’s chemical sector, driven by high energy costs, surging Asian imports, and recent US tariffs. Several multinationals have already shuttered sites in the Netherlands, highlighting the sector’s deteriorating competitiveness.
