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BP shares surged nearly 7% on the news.
BP's stock rallied on Wednesday, and shares of Shell fell, after the Wall Street Journal reported the two companies were holding merger talks.
BP shares jump 8% on report it is in early-stage talks to be acquired by Shell
Discussions are progressing ‘slowly,' The Wall Street Journal reports.
Shell is in early talks to buy rival BP in a deal worth roughly $80 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter
A deal for BP, worth roughly $80 billion, would be a landmark combination of two supermajor oil companies.
Markets remained volatile in May 2025 amid ongoing trade tensions and mixed signals from Washington and Wall Street. While U.S.-China talks quietly resumed, tariffs persisted and business sentiment stayed cautious, contributing to investor uncertainty. May's investments added $111 in annual dividends, keeping me on track with my goal of $100+ monthly income growth and a 7.4% yield on cost.
BP has been the subject of takeover talks for several years due to its shares' relative underperformance, but analysis of its disclosures shows the British energy firm may not be as cheap as its market valuation would indicate.
Gimi FLNG ramps up LNG output to 2.4 mtpa, equivalent to 90% of the unit's nameplate capacity, at the BP-operated GTA project.
Oil prices plunged on Tuesday after Israel and Iran agreed a ceasefire, sending shares in oil heavyweights BP PLC (LSE:BP.) and Shell PLC (LSE:SHEL, NYSE:SHEL) tumbling.