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

Shell and Phillips 66 are reportedly considering selling their combined 61% stake in the company that owns the Explorer refined products pipeline. This potential deal could value the pipeline, a critical piece of U.S. energy infrastructure, at approximately $3.5 billion. The move highlights the strong market demand for energy infrastructure assets, particularly from financial buyers, encouraging existing owners to divest and reinvest in higher-growth areas of their businesses.