Shell denied that he was in talks with BP on a possible takeover of his smallest rival.
The Wall Street Journal, citing a number of sources, reported on Wednesday evening that the discussions between the two energy-based energy companies were at an early but active stage.
The American publication added that BP was considering the approach.
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Its history was published shortly after the London Stock Exchange closure for the day, but the deposit shares listed in the United States in BP were 10% in New York shortly after the publication, while those of Shell were broken.
However, Shell responded to history by telling Sky News: “This is greater speculation on the market. No conferences take place.
“As we have said on several occasions before, we focus heavily on the capture of Shell’s value by continuing to focus on performance, discipline and simplification.”
The BP actions rally fell back following the declaration. BP refused to comment.
The company has been largely considered as a possible takeover objective for years, because its market value has lagged behind growth in industry peers.
It was estimated at nearly 59 billion pounds Sterling on Wednesday, while Shell had a market capitalization of more than 153 billion pounds Sterling.
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The Gulf between them has expanded since 2020, when BP, under the chief of the time, Bernard Looney, embarked on a fundamental change towards a green energy future.
The high ambitions were slowly distant after record jumps in oil and natural gas costs following the invasion of Ukraine by Russia.
A large part of the strategy has been canceled in a reset By the current Murray Auchincloss boss in February of this year, under the pressure of shareholders.
The BP debt heap was considered a potential obstacle to the interest of the buyout.