Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
Reports emerged suggesting Shell and BP are discussing a potential megamerger that could create one of the world’s largest oil and gas companies, valued at more than £200 billion ($274 billion). The Wall Street Journal reported that while talks were progressing slowly, no final agreement has been reached.
A Shell spokesperson called the reports “further market speculation” and denied any current negotiations, although it was unclear if talks had happened before. Market observers have speculated that Shell might leverage its record profits to buy BP, whose shares have suffered amid a failed green energy strategy, disappointing financial results, and internal turmoil.
BP’s market value has dropped nearly a third over the past year to about £58 billion ($79 billion). The company’s turnaround efforts under CEO Murray Auchincloss, including scaling back low-carbon investments and refocusing on fossil fuels, have failed to regain investor confidence. BP also faces pressure from activist investors and criticism from environmental groups.
Meanwhile, Shell CEO Wael Sawan has emphasized prioritizing share buybacks and maintaining discipline over acquisitions. Earlier in the year, he denied takeover rumours and reiterated that Shell remains focused on improving performance and shareholder value.
BP declined to comment on the takeover rumours.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Germany’s data protection commissioner has called on Apple and Google to block the Chinese AI app DeepSeek from their platforms over illegal data transfers and privacy concerns.
Azerbaijan’s top general observed major drills in Türkiye and met senior Turkish defence leaders, underscoring the allies’ growing military partnership.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Azerbaijan and China have deepened energy cooperation, with new agreements signed to advance green energy initiatives and improve Azerbaijan’s electricity transmission system in line with its renewable energy targets.
Heatwaves gripping Europe have pushed temperatures above 40°C, fueling wildfires and triggering weather alerts across several countries.
The UK government has eased its travel advice for Israel as the final evacuation flight for British nationals prepares to depart Tel Aviv on Sunday.
President Donald Trump said Friday he believes any potential conflict with North Korea can be resolved, pointing to his strong relationship with leader Kim Jong Un.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
The U.S. Senate on Friday rejected a Democratic-led effort to block President Donald Trump from launching further military action against Iran without congressional approval.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
In a televised address on Saturday night, U.S. President Donald J. Trump announced that American forces, in coordination with Israel, had conducted precision strikes on Iran’s Fordow, Natanz, and Isfahan nuclear sites, aiming to dismantle Tehran’s enrichment capabilities.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
The European Commission has warned Meta that it may face daily fines starting 27 June if its modified pay-or-consent advertising model fails to meet EU antitrust requirements under the Digital Markets Act.
Nike plans to reduce its reliance on China for U.S.-bound products to offset the financial blow from President Donald Trump’s new tariffs, as the sportswear giant posted better-than-expected fourth-quarter results and a milder revenue forecast.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Heatwaves gripping Europe have pushed temperatures above 40°C, fueling wildfires and triggering weather alerts across several countries.
The UK government has eased its travel advice for Israel as the final evacuation flight for British nationals prepares to depart Tel Aviv on Sunday.
President Donald Trump said Friday he believes any potential conflict with North Korea can be resolved, pointing to his strong relationship with leader Kim Jong Un.
The US stock market closed at record highs Friday, with both the S&P 500 and Nasdaq rebounding from late-session losses triggered by trade tensions with Canada.
The U.S. Senate on Friday rejected a Democratic-led effort to block President Donald Trump from launching further military action against Iran without congressional approval.
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