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Shell rejected a Wall Street Journal report That said, the oil giant was in the first talks to take over the company Rivale BP.
“This is greater speculation on the market. No conferences take place,” the company said in a statement on Wednesday.
An agreement between the two rival oil companies would be the largest oil agreement in modern times, with BP worth around 80 billion dollars, the WSJ reported. The report on a potential agreement occurs while geopolitical tensions threaten to compromise the wider oil and gas market.
“As we have said on several occasions before, we focus strongly on the capture of Shell’s value by continuing to focus on performance, discipline and simplification,” said Shell in a Different declaration at CNN. BP refused to comment.
BP shares had increased up to 10.5% on Wednesday after news from potential talks, although this increase has decreased.
Bloomberg reported for the first time On speculation of a takeover in May. According to a RBC research report, BP has a hard time, underperforming 17% in the past year and 84% in the past 5 years, according to a RBC research report last month. But Shell should benefit from the BP liquefied natural gas portfolio, and the RBC report said that Shell still has to work on its energy transition strategy as well as the longevity of its raw oil and natural gas portfolio.
COP hidden Thousands of jobs in January and Reduce its investments in clean energy A month later, aimed at developing its oil and gas production instead. The actions of the company fell by almost 16% compared to 2024 when it waded and tried to facilitate investors’ concerns on sound energy transition strategy.
Anna Cooban of CNN has contributed to this report.
