Shell reportedly weighing up merits of making move to buy BP
Briefly

Shell is reportedly in discussions with advisers about the feasibility of a takeover of rival oil producer BP, as BP's shares have declined over 30% in the past year. A potential merger would be significant for the oil industry, considering Shell's market value is much greater than BP's. BP's recent strategic reset led by CEO Murray Auchincloss aims to address the company's weak performance, although its focus on new fossil fuel projects has garnered mixed reactions from investors. The discussions are in early stages, with Shell possibly considering smaller acquisitions instead.
Shell's deliberations about a takeover of rival BP represent a significant exploration of potential industry consolidation, particularly as BP’s financial struggles become pronounced.
BP’s decline and failure to impress investors call into question its strategic direction, with its leadership promising a reset while facing mounting challenges in the fossil fuel sector.
Read at www.theguardian.com
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