Shell Denies Negotiations to Acquire BP After WSJ Report

Shell has denied a Wall Street Journal (WSJ) report regarding negotiations to acquire BP. The report stated that talks between company representatives are active and that BP is carefully considering the approach.

A Shell representative stated that the company is "intensely focused on delivering Shell’s value, continuing to focus on performance, discipline, and simplification." Shell CEO Wael Sawan recently stated that the company's bar for major deals would be high.

Sources cautioned that the final terms of an agreement are not known, and a merger is not at all certain, as there are many details to be worked out.