Exclusive-Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer, sources say

Shell and Phillips 66 are exploring the sale of their combined 61% stakes in Explorer, the company owning the Explorer refined products pipeline, which could value the asset at around $3.5 billion. This potential divestment stems from high demand for energy infrastructure assets, driven by financial buyers seeking steady cash flow. The Explorer pipeline is a critical piece of U.S. energy infrastructure, transporting fuel from Texas through the Midwest to Chicago, and its sale could eventually involve other stakeholders like Energy Transfer and MPLX.