Shell Dismisses BP Acquisition Talks

News emerged suggesting that Shell might be engaging in preliminary talks to acquire BP, as reported by the Wall Street Journal; however, these rumors were swiftly dismissed by Shell. A spokesperson for the energy giant strongly denied any talks, reiterating the company’s strategy of focusing on internal growth and shareholder returns via performance, discipline, and simplification. Speculation has often surrounded BP due to its below-par market performance, but Shell’s CEO, Wael Sawan, emphasized a cautious approach to acquisitions, prioritizing share buybacks over large-scale deals. Industry sources have indicated that BP could face restructuring pressures if a deal were to materialize, though no terms or agreements have been finalized. The global regulatory landscape also presents challenges for such mergers. Meanwhile, Shell is expanding its capacities under its Integrated Gas division, aiming for significant growth by the decade's end.