Mohan Sinha
01 Jul 2025, 08:13 GMT+10
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.
Get a daily dose of Haiti Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Haiti Sun.
More Information]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
JERUSALEM, Israel: Israeli Prime Minister Benjamin Netanyahu says that Israel's success in the war with Iran could open the door to...
NEW DELHI, India: India has decided not to allow a United Nations (UN) investigator to join the investigation into the recent Air India...
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...
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...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
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....
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...