Shell rejects claim of early merger talks with BP

Mohan Sinha
01 Jul 2025, 08:13 GMT+10

British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP
The Wall Street Journal reported this week that Shell was engaged in “early stage talks” to buy BP, citing unnamed sources familiar with the situation
Shell has repeatedly dismissed rumors of a takeover bid, emphasizing that its focus remains on streamlining and simplifying its operations

LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP.

The Wall Street Journal has reported that Shell was engaged in "early stage talks" to buy BP, citing unnamed sources familiar with the situation. However, in a statement to the London Stock Exchange, Shell firmly rejected the claim.

"In response to recent media speculation, Shell wishes to clarify that it has not been actively considering making an offer for BP," the company said. "It confirms it has not approached BP, and no talks have taken place regarding a possible offer."

Shell has repeatedly dismissed rumors of a takeover bid, emphasizing that its focus remains on streamlining and simplifying its operations.

Some market analysts have said BP could be an appealing acquisition target. The company's recent decision to pull back from its renewable energy transition plan has left its stock undervalued compared to other major oil firms.

BP is also still dealing with the long-term fallout from the 2010 Deepwater Horizon disaster, which killed 17 workers and led to billions in compensation and cleanup costs in the Gulf of Mexico.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Breaking Property News.

More Information

null in null

Business

Section

Shell rejects claim of early merger talks with BP

LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...

Wall Street extends rally, Standard and Poor's 500 hits new high

NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...

Canadian tax on US tech giants dropped after Trump fury

WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...

Trump-backed crypto project gets $100 million boost from UAE fund

LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....

DIY weight-loss drug trend surges amid high prices, low access

SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....

Apple allows outside payment links under EU pressure

SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...

Construction

Section