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Shell in Early Talks to Acquire Rival BP
Posted on 6/25/25 at 10:44 am
Posted on 6/25/25 at 10:44 am
LINK
quote:
Shell is holding early stage talks to acquire rival BP in what would be the largest oil deal in a generation, people familiar with the matter said.
8
Posted on 6/25/25 at 10:46 am to HeLeakin
Bold move for a shell company
This post was edited on 6/25/25 at 10:46 am
Posted on 6/25/25 at 10:53 am to HeLeakin
this has been whispered for awhile now, seems like they're ready to confirm and won't take long to announce something officially imo
Posted on 6/25/25 at 11:20 am to HeLeakin
BP moved hard into renewable energy (whatever that was supposed to mean) and forgot it was an oil and gas company.
That little miscalculation means it will cease to exist.
That little miscalculation means it will cease to exist.
Posted on 6/25/25 at 11:52 am to No Colors
Shell sold most of their shite to Conoco in the Permian a few years back. Thought they were the ones trying to go into renewable. Guess not
This post was edited on 6/25/25 at 11:53 am
Posted on 6/25/25 at 12:01 pm to HeLeakin
Neither one of them have almost any IT presence on shore, it'll be fun to watch them try and integrate systems at some point.
Posted on 6/25/25 at 12:06 pm to HeLeakin
Can that pass anti-trust rulings?
That seems like damn near a monopoly at that point.
That seems like damn near a monopoly at that point.
Posted on 6/25/25 at 1:22 pm to No Colors
quote:
BP moved hard into renewable energy (whatever that was supposed to mean) and forgot it was an oil and gas company.
Per the same WSJ article:
quote:
BP has since adopted several measures to try to address investor frustrations. It announced plans earlier this year to boost oil and gas production and sharply cut investments in clean energy.
BP is also in the process of trying to sell its lubricants business that operates under the Castrol brand and has indicated it could unload at least part of its solar unit, Lightsource. More recently, BP said that its Chairman Helge Lund, a key architect of the company’s low-carbon strategy, plans to step down.
I think there’s a big BP Lightsource solar farm in either Acadia or St Landry Parish.
Posted on 6/25/25 at 1:23 pm to cdhorn28
quote:
Shell sold most of their shite to Conoco in the Permian a few years back.
Unloaded all their onshore O&G assets and operations in that last move a few years ago. Rumor for the past year is they now want back in the Permian, again. Think they’ve been in, sold out, got back in, and now currently out.
This post was edited on 6/25/25 at 1:45 pm
Posted on 6/25/25 at 1:26 pm to Mid Iowa Tiger
quote:
Can that pass anti-trust rulings?
That seems like damn near a monopoly at that point.
US Government really doesn't care about upstream as long as one company doesnt own too many refineries - so this should be fine - at least in the US.
They would be the biggest operator in the gulf by a wide margin. Shell is already probably the biggest and adding BP's 5 deep water platforms would make it a monster.
Posted on 6/25/25 at 1:27 pm to HeLeakin
Glad I jumped ship, it was becoming a miserable place to work BP is basically making anyone with experience leave to get cheaper people in
Posted on 6/25/25 at 3:47 pm to dillpickleLSU
quote:
Glad I jumped ship
What were you doing pickle? When I joined 18 years ago all we worried about was fixing stuff. Now it’s just a bunch of zealots talking about their control of work processes. Can’t fix shite, all everyone says all day is “I gotta cover my arse”.
Posted on 6/25/25 at 3:57 pm to Gee Grenouille
quote:
HOUSTON — Shell PLC (NYSE: SHEL) has denied reports that it is in preliminary talks to acquire fellow energy giant London-based BP PLC (NYSE: BP).
Both companies have their U.S. headquarters in Houston, and together they have well over 10,000 employees in the area.
The Wall Street Journal initially reported on June 25, citing sources familiar with the matter, that Shell was holding early talks to acquire BP. Speculation that Shell and BP could merge started after supermajors Spring-based Exxon Mobil Corp. (NYSE: XOM) and Houston-based Chevron Corp. (NYSE: CVX) announced massive acquisitions at the end of 2023, but the rumors have grown as BP faces pressure from activist investor Elliott Investment Management LP to change.
LINK
Posted on 6/25/25 at 4:46 pm to ragincajun03
Even if they agree buy BP it will take years for all the different countries to approve the deal.
SLB bought ChampionX 1 1/2 years ago and the deal is still being held up by bureaucrats.
SLB bought ChampionX 1 1/2 years ago and the deal is still being held up by bureaucrats.
Posted on 6/25/25 at 6:15 pm to ragincajun03
BP would have to have massive proven reserves in the GoA and assets they could sell everywhere else for Shell to want any part of trying to make one company out of those two.
Organic growth and cost discipline is the company line.
If they could find some one with cheap reserves, they’d buy that no matter the size. Problem is, the price of oil is heading down and these companies don’t seem to want to buy at the bottom because their income is down at the same time.
Organic growth and cost discipline is the company line.
If they could find some one with cheap reserves, they’d buy that no matter the size. Problem is, the price of oil is heading down and these companies don’t seem to want to buy at the bottom because their income is down at the same time.
Posted on 6/25/25 at 6:32 pm to FOBW
quote:
the price of oil is heading down and these companies don’t seem to want to buy at the bottom because their income is down at the same time.
Yet when income is high because of high prices, companies and/or their assets are costlier to purchase. Oh the conundrum.
The thing I keep wondering, if the rumors of Shell wanting to get back into the Permian again are true, who the heck would they target?
I wonder if they could negotiate to just buy BPX and not BP as a whole. Leave the chemicals and BP Lightsource stuff alone. I’m sure that would have to come at a premium, and BP would have to figure how to just sell out those arms.
Posted on 6/25/25 at 6:35 pm to cdhorn28
quote:
Shell sold most of their shite to Conoco in the Permian a few years back. Thought they were the ones trying to go into renewable. Guess not
Every single energy company has realized that “Green” isn't the moneymaker they were promised.
Posted on 6/25/25 at 6:43 pm to HeLeakin
I hope Shells corporate culture prevails BP sucks
Posted on 6/25/25 at 6:49 pm to ragincajun03
Uninformed opinion.
Shell doesn’t want any part of the Permian. A rumor was that they sold their Permian assets because they couldn’t make money in shales (enough money) because of their burdensome structure / policies.
Shell doesn’t want any part of the Permian. A rumor was that they sold their Permian assets because they couldn’t make money in shales (enough money) because of their burdensome structure / policies.
Posted on 6/25/25 at 6:54 pm to FOBW
quote:
A rumor was that they sold their Permian assets because they couldn’t make money in shales (enough money) because of their burdensome structure / policies.
Well I can believe that if getting things done with their onshore upstream business was anything like dealing with Shell Chemical to get an agreement done.
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