Pod He said “no conversation take place” for Mega-Merger possible by an opponent BP That would cost more than $ 80 billion and represent a major energy plan for this century.
Rejection comes up on the heels of Wall Street Journal reporting June 25 that Shell is in an early conversation to get BP In the plan of the rumors a lot. BP has struggled financially in recent years – in conjunction with investor movements from elliott investment management and others-launching a “hard reset” in At the beginning of 2025 which reduces costs, shifts from renewal, and doubles in oil.
Shell and BP (13th and 25th place in the Global 500 luck, the dominant) they have the most natural memory and their London headquarters and the footsteps of the world, and the mix, though expensive, can set the chance to compete with great America Exxon Mobil and Chevron.
With its stock less than 17% in the last 12 months – and 25% in the decade – a $ 82 billion market is not only exxon trails ($ 470 billion), DRM ($ 250 billion), and shell ($ 211 billion), but also French France Total energy ($ 140 billion), and Houston base Conocophillips ($ 113 billion), and bring about long -term BP's probability in question.
“This is a more market rumor. No talks are taking place,” a spokesman said on June 25. “As we mentioned many times before, we are focused on capturing value in the shell through continuing to focus on performance, discipline and simplification.”
In May, when asked about BP, Shell CEO Wael Sawan said the bar was set up very high for any purchase, and that he was aiming to use capital to increase stock purchases. The shell goes through its most common revamp of oil and gas repair.
BP rejected the comments on June 25, but BP CEO Murray Auchincloss handled a possible shell plan In a recent interview of sitting and Luck.
“I can't say anything else except we focus on our own business, our strategy and move it forward. Obviously, the media likes to speculate on this. Investment banks like to predict this,” Auchincloss said. “But we're focusing on our own business right now. We are happy that we have launched a strategy (reset), and we will move forward and promote money, and that will make us strong and free.”
Great for BP
The current record of oil and gas contracts is the 1999 EXXON and Mobil inclusion for more than $ 80 billion. A year ago, the closer access to Amoco's $ 50 billion had set a short record.
But BP has addressed a major struggle since, including the 2010 Deepwater Water disaster in the Gulf of Mexico and, recently, the 2020 strategy to shift to rapidly promote oil and gas production by 2030 by 2030 as a bet that world oil demand was exacerbated.
Auchincloss, who took the late 2023 after being used as the CFO, has dramatically changed the strategy, and increased oil and gas investment from American to the United Arab Emirates – both see a crossover and shell, as well as the affiliation in the Gulf of America.
“We've really chased it. We have to have reduced it,” Auchincloss said. “That's clear what I have done now. I think the last thing I would say is connected to what you are right and continue to promote that when you create a new business.”
BP sells its American wind portfolio, offering 50% shares in its solar business, and selling its coastal business through new joints, fifty -fifty and Japanese jewelry. BP also sold a $ 1 billion stock on Tanap gas pipeline from Caspian The sea to Apollo Global Management. The strategic review of his Castrol lubricants is high, as well as keeping his oil sale business in Austria is sold.
And BP chairman Helge Lund, who greatly supported BP's push into the energy transition business, will go down, most likely in 2026, according to the company.
Exxon and DRM are just about other major players enough to buy BP. While their assets cannot fit well, or we seniors can sell parts that do not want to take care of.
Shell, meanwhile, is focused on selling its chemical business to lift the capital, which has important properties in Texas, Louisiana, Germany, England, and the Netherlands.