BP has appointed Meg O’Neill as CEO, making her the first woman to lead a Big Oil company. Speculation about a potential merger deal with Shell has been fueled by this leadership change, with analysts suggesting a megadeal could be closer than ever before. O’Neill’s history and BP’s struggles add weight to this speculation.

Shell confirmed it has no intention of making an offer for BP, with UK market rules preventing them from doing so until December 26. O’Neill’s arrival at BP has reignited rumors of a potential significant deal, with past speculation suggesting Shell could be interested in a merger with BP.

O’Neill, a former ExxonMobil executive, led Woodside Energy to become the largest energy company on the Australian Securities Exchange. Her appointment at BP has sparked further speculation about a potential merger deal, especially given her track record in overseeing major deals in the industry.

The shake-up in BP’s leadership with the appointment of a CEO who has recently overseen a major merger deal at Woodside is rekindling speculation that a blockbuster deal may be on its way. With Shell potentially free to approach BP again on December 26, the industry awaits further developments in this story.

Read more at Yahoo Finance: BP CEO Shake-Up Reopens Talk of a Shell Megadeal