Shell on Wednesday denied media reports linking the company to a potential takeover bid for rival energy major BP, stating that it has not considered such a move and no discussions have occurred.
“In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement.
The clarification follows recent media reports suggesting Shell was evaluating a potential acquisition of its FTSE 100-listed peer.
Both companies are among the largest players in the global energy sector and have been navigating investor pressure to balance oil and gas operations with longer-term climate goals.
