Shell repudiates rumors of making a play for BP

As media speculation over a potential merger between two European oil majors, the UK-headquartered Shell and BP, has not died down yet, the former decided to address the rumors by denying the alleged business combination talks.

The Shell-BP merger is not a new topic for the offshore energy industry, as such rumors tend to resurface now and then, especially in times when greater consolidation is anticipated within the energy landscape.

Based on current rumors, Shell is simply bidding its time until oil and stock prices drop, as its market cap is significantly larger than BP’s at this point.

Shell’s spokesperson told Offshore Energy in February 2025 that “no significant inorganic acquisitions” were being pursued as the firm considers its own shares as “an extremely attractive investment opportunity,” preferring to “allocate capital to them than elsewhere.”

Given the recently rekindled media speculation, Shell clarifies that it has not been actively considering making an offer for BP.

The firm also confirmed that it had not approached the other firm; thus, no talks have taken place between the duo regarding a possible offer.

While underscoring that it has no intention of making an offer for BP, Shell emphasized: “We remain focused on delivering more value with less emissions through performance, discipline and simplification.”

Meanwhile, Shell is among the nine players that secured exploration rights for several offshore blocks on offer at the 5th Permanent Concession Offer Cycle, which was held in Brazil.