Shell denied rumors of megamerger with struggling BP, exploring strategic moves

From Yahoo Finance: 2025-06-25 15:12:00

Shell denied rumors of a potential megamerger with BP that would cost more than $80 billion, dismissing market speculation. BP, ranked below Shell in market cap, has faced financial struggles and a recent shift away from renewables. Exxon and Chevron could be potential buyers for BP.

BP has undergone significant strategy shifts, including a move to rapidly grow renewables and cut oil and gas production. Auchincloss, BP’s CEO, has refocused on oil and gas investments, selling off wind and solar assets. BP chairman Lund is set to step down in 2026.

Shell, on the other hand, may consider selling off parts of its chemicals business to strengthen capital. Both Shell and BP are eyeing strategic moves to navigate the changing energy landscape. Exxon and Chevron are potential buyers for BP, with Shell also exploring strategic options. 1. The stock market experienced a significant drop today, with the Dow Jones Industrial Average falling over 500 points. Investors are concerned about rising inflation and interest rates, leading to a sell-off in tech and growth stocks.

2. A new study found that the COVID-19 vaccine is highly effective in preventing hospitalizations and deaths from the Delta variant. The research showed that vaccinated individuals have a significantly lower risk of severe illness compared to those who are unvaccinated.

3. In other news, the FDA has approved a new drug for the treatment of Alzheimer’s disease. This marks the first new drug approved for Alzheimer’s in nearly 20 years, offering hope to millions of patients and their families.

4. The United Nations released a report warning of the urgent need for action on climate change. The report highlights the devastating impact of rising global temperatures and emphasizes the need for immediate and drastic measures to prevent further environmental damage.

5. SpaceX successfully launched a new batch of Starlink satellites into orbit. The mission aims to expand global internet coverage and bring high-speed internet to underserved communities around the world. The satellites are part of SpaceX’s ambitious plan to create a global satellite internet network.

Read more: Shell denies reports of BP megamerger of Big Oil rivals