05:42 AM EDT, 09/04/2025 (MT Newswires) -- Exxon Mobil ( XOM ) is exploring a potential sale of chemical plants in the UK and Belgium as the sector struggles from US tariffs and increased competition from China, the Financial Times reported Thursday, citing people familiar with the matter.

The company has held early discussions with advisers in recent weeks on possible sales that could fetch up to $1 billion, according to the report.

Exxon has also discussed shutting down the plants, the report said.

Exxon did not immediately respond to MT Newswires' request for comment.

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