On June 26, 2025, Shell publicly refuted media reports suggesting it was in early-stage discussions to acquire British oil company BP. The Wall Street Journal had cited unnamed sources claiming Shell was considering a takeover. However, Shell issued a statement to the London Stock Exchange firmly rejecting these claims, stating that it has not made any approach to BP nor held any discussions about a potential offer.
Shell emphasized that it is currently focused on streamlining and simplifying its own operations. Analysts had previously speculated that BP might be a takeover target due to its recently abandoned renewable energy transition plan, which left its shares undervalued. BP has also faced long-term financial and reputational fallout from the 2010 Deepwater Horizon disaster, which resulted in significant loss of life and environmental damage in the Gulf of Mexico.
Under UK takeover rules, Shell’s statement prevents it from making an approach for BP for at least six months, except in certain circumstances, such as if BP encourages Shell to do so, another bidder makes an offer for BP, or there is a material change of circumstances.
