Shell (SHEL.US) plans to sell its European and American chemical assets to focus on its core profitable business.

According to reports, Shell (SHEL.US) is considering selling its chemical assets in the United States and Europe as part of its strategy to refocus on its most profitable businesses. Sources familiar with the matter said that Shell is working with Morgan Stanley to evaluate its chemical business, and negotiations are still in the early stages. The report also mentioned that the Deer Park plant in Texas is being evaluated, which is adjacent to a refinery that Shell had previously sold shares in. Potential buyers may include private equity firms and buyers from the Middle East.