Shell denies reports on BP Megamerger from adult oil competitors

Denial comes in the wake of Wall Street Journal Reports on June 25 that Shell is in early talks to acquire BP In a very distorted deal. BP has struggled financially in recent years – in achieving investor activity from Elliott Investment Management and others Launching “fixed reset” In early 2025, it reduces costs, turns away from renewable energy sources, and doubles fossil fuels.

Shell and BP (No. 13 and No. 25 on Fortune Global 500, respectively) has a more natural intersection through their headquarters in London and its international program, and a group, although it is expensive, can put Shell to compete better with US giants Exxon Mobil and Chevron.

With its shares decreased by 17 % in the past 12 months – and 25 % in a decade – the maximum BP market is of $ 82 billion not only on Exxon ($ 470 billion) path Total energy (140 billion dollars) Houston -based Conocophillips (113 billion dollars), which provokes BP in the long run.

“This is additional speculation in the market,” said a spokesman for Shell on June 25.

In May, when he was asked about BP, CEO of Shell and Will Sawan said that the tape is very high for any acquisitions, and that he focused on using capital to increase shares resets. Shell passes its most modest renovation to reaffirm oil and gas.

BP refused to comment on June 25, but its CEO, Murray Auchincloss, addressed the potential Shell deal In a recent interview to sit with luck.

“I can’t really say anything other than we focus on our own business and strategy and push them forward. It is clear that the media loves to speculate on this. Investment bankers love to predict this,” Ochinkens said. “But we only focus on our own business at the present time. We are pleased to launch a strategy (reset), and will lead us forward and grow the cash flow, and this will make us strong and independent.”

BP BP movements

The current registry of oil and gas deals is the 1999 integration of Exxon and Mobil for more than $ 80 billion. A year ago, BP recorded approximately $ 50 billion in Amoco a short -term record.

But BP has dealt with major conflicts since then, including the Deepwateer Horizon 2010 tragedy in the Gulf of Mexico, and recently, the strategy in 2020 turned into renewable energy rapid growth and 40 % reduced oil and gas production by 2030 and the bet that global demand for peak.

Auchincloss, who took office in late 2023 after she worked as a financial manager, has changed the strategy significantly to move forward, doubled on oil and gas investments from the United States to the United Arab Emirates – each of whom sees Cross with Shell, including current partnerships in the American Gulf.

“We have chased a lot. We should have been narrowed.” “It is clear that this is what I did now. I think the last thing I say is to stick to what you are good and continue to grow while building new works.”

BP sells wild wind wallet in the United States, withdraws a 50 % stake in its LightSource, and sells many international marine winds through a new joint venture fifty fifty with Japanese benefit. BP also sold a $ 1 billion share in the TanAP gas pipeline from the Caspian Sea to Global Administration Apollo. A strategic review of her Castrol lubrication has declined, as well as putting her business in Austria for sale.

BP Helge Lund, who has supported BP, will be shook at the field of energy transmission, will likely be at 2026, according to the company.

Exxon and Chevron are only the only older players enough to buy BP. Although their assets may not fit with assets, the United States giant can sell parts that you do not want to keep.

Meanwhile, Shell thought about selling some of her chemical works to support capital, which is characterized by major assets in Texas, Louisiana, Germany, the United Kingdom and the Netherlands.