Talk of a possible megadeal rippled through the oil industry Wednesday, though Shell insists it is not planning to buy rival BP.
Tie-up rumors about the London-based oil and gas giants have circulated for months — and they got a boost when The Wall Street Journal reported Wednesday that Shell was having “early stage talks” about an acquisition of BP.
But Anna Arata, a Shell spokesperson, disputed that characterization.
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“No talks are taking place,” Arata said in a statement to POLITICO’s E&E News. “As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification.”
