10:46 - 5.05.2025

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May 5, Fineko/abc.az. British company Shell has begun preliminary consultations on the possible acquisition of a competitor, British Petroleum (BP), ABC.AZ reports, referring to Bloomberg.

Discussions have intensified in recent weeks, but no decision has been made yet. Shell is also considering alternatives, including buying back its own shares. It all depends on the dynamics of BP shares and oil prices.

BP is experiencing a crisis of confidence: over the year, its capitalization has decreased by a third to 56 billion pounds. By comparison, Shell is worth £149 billion. The reason is the unsuccessful strategy of the "green transition" and the fall in oil prices.

The deal could be a chance for Shell to return to the U.S. market, where it sold assets in the Permian basin in 2021. Shell did not refuse to comment, but stated the priority of internal development. BP does not comment on the situation.