Shell Scotches Speculation of Takeover of BP

June 27, 2025

(3 Minutes Read)

Shell has repeatedly denied speculation that it was considering a takeover of its smaller rival BP, saying it was focused on streamlining and simplifying its own business

British oil giant Shell on Thursday denied media reports that it is in talks to buy rival BP. The Wall Street Journal on Wednesday said Shell was holding “early-stage talks, ″ to acquire BP, citing people familiar with the matter.

Shell, in a statement to the London Stock Exchange, said that there was no such move, clarifying that it has not been actively considering making an offer for BP and confirms it has not approached to. No talks have taken place with BP with regard to a possible offer, the statement further said.

Shell has repeatedly denied speculation that it was considering a takeover of its smaller rival BP, saying it was focused on streamlining and simplifying its own business. Some analysts have suggested BP would be an attractive takeover after a plan to shift its focus to renewable energy, which was abandoned earlier this year, left its shares undervalued in comparison to other oil companies.

BP has also struggled to recover from the 2010 Deepwater Horizon disaster, which killed 17 workers and forced the company to pay billions of dollars for environmental damage in the Gulf of Mexico.