ExxonMobil Seeks Exit From European Chemicals Sector

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ExxonMobil is considering selling its chemicals plants in the UK and Belgium, Reuters reported today based on an article in the Financial Times. The Houston-based #petrochemicals giant reportedly has held early-stage discussions with advisors on possible sales that could bring in up to $1 billion, the news outlets reported.

Europe’s #chemicals industry is in disarray, as it wrestles with high energy costs, US tariffs, and cheap imports from Asia. At the beginning of the year, industry intelligence organization ICIS set the tone with an article that carried the headline, “Europe’s chemical industry, and its economy, face an existential challenge.” The #EuropeanCommission unveiled an action plan to address this issue in July of this year. The initiative to reduce #energy prices and enact safeguards against unfair competition was deemed “too little, too late” by UK-based chemicals company #Ineos. The European chemicals sector overall nodded in agreement. It’s within this context that #ExxonMobil is exploring a divestment of its chemicals assets in Europe.


Exxon owns an ethylene plant in Fife, Scotland, as well as several production sites in Belgium. If it can’t find any buyers, ExxonMobil has also discussed simply shutting them down, according to the FT and Reuters.


This development follows recent announcements of plant shutdowns in Europe.

As reported in #PlasticsToday in July 2025, #Dow is cutting back on European production of chlor-alkali and vinyl, with the closure of its facility in Schkopau, Germany. An ethylene cracker in Böhlen, Germany, and a basics siloxanes plant in Barry, UK, are also on the chopping block.

Vynova announced that same month that it would cease #PVC production in the Netherlands, which has an annual capacity of 225,000 metric tons. The company cited “ongoing economic, regulatory, and market challenges” for the closure.

LyondellBasell and Sabic also recently revealed that they would be reducing their European footprint.


source : Plastics Today


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