Shell Reportedly Studying BP Bid ...Middle East

Shell is reportedly considering a takeover bid for fellow supermajor BP, which has seen its fortunes dim recently after its rather premature bet on a fast energy transition. The report comes from Bloomberg, which quoted unnamed sources familiar with the developments. The Financial Times, meanwhile, quoted Shell’s chief executive, Wael Sawan, as saying he would rather buy back Shell’s own stock than take over BP. “We will always look at these things, but you are also looking to see what the alternative is,” Sawan told the…

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