Labour prepared to approve BP takeover by Shell
Instead of allowing him to fall into overseas hands, the government would be preparing to confirm the inheritance of BP with a larger rival shell.
The informal guidance in Whitehall reported that shell had an early stage speeches about the possible seizure of the weaker opponent before the reports of the last week.
Shell made a statement that no such interview was held on the stock market.
According to the rules of strict inheritance of England, bids are not allowed for six months. In case of an offer from other sources, BP requires the shell to invite it to the process.
City Investment Bankers have been swimming the idea of a Shell-BP agreement to form a London-based European oil champion on an American giants scale for several months.
Such a procedure will inevitably require examination by the anti-trus authorities on both sides of the Atlantic.
Non-official guidance: City Investment Bankers swim the idea of a Shell-BP agreement to create a London-based European oil championship
Shell CEO Wael Sawan, Wael Sawan, said that its goal is to return the shareholders to shareholders through dividends and reputation working for £ 3 billion in a quarter.
In the Anglo-Hollandal Shell center, BP seizes the BP as a distraction from its main task.
However, if he has the opportunity to be involved in the BP, the company felt that it was necessary to get informal drilling with ministers and authorities.
Shell’s last Great Britain’s inheritance came when he bought BG Group, the discovery arm of the British gas, for £ 46 billion ten years ago.
Shell, which has a stock market value of £ 150 billion, has moved away from BP in recent years. With less valuation than half of this, BP will be easy choices for most large oil companies.
Donald Trump, ‘drill, baby, drill’ mantra with the mantra to the White House has increased interest in large oil.
Keir Starmer government’s open hostility to fossil fuels has also softened in recent weeks. The 12 -day war between Israel and Iran recalled how important the oil and gas is for England’s energy and national security.
The BP’s low valuation of £ 58.8 billion makes it an attractive transfer proposal for its competitors.
The Board of Directors was fed with problems in Russia and the newly named American Gulf. It carries a net debt of £ 20 billion in the balance sheet.
The BP is trying to focus on the discovery and production of oil and gas after becoming a carbon-refire energy group under Bernard Looney under a cloud in 2023.
The current General Manager Murray Auchincloss set a challenging target to reduce the net debt to £ 14 billion by 2027.
In addition, the activist investor Elliott Capital Management means reducing capital investment, even under pressure to improve early returns.
However, it is not clear that large American oil companies will be interested in buying BP.
EXXON Mobile is very focused on America, which hit black gold in the Guyana Basin. It is also deeply involved in the removal of drilling, fracting and natural gas, with the taking of $ 64 billion (£ 47 billion) in the Permian Basin in Texas and New Mexico.
The opponent Chevron has doubled local development, and even though Bokta is in the process of arbitration, he seizes 50 billion dollars of Hess Corporation.
As the former Anglo-Persian oil company founded in 1909, BP has a long history of global discovery and good relations with the British government. He has not lost any of his adventurous nature and develops new production and markets in Azerbaijan, India and Indonesia and is a major investor in Iraq production.
The government will be afraid of the risk of business, export and oil trade if a vital flag-Plier falls into the overseas hands for the UK at home and abroad. The loss of London Stock Exchange Exchange quote will be a destructive blow to England.
Some city consultants are warned that their services will be needed, for any reason, the existing six-month cooling time in a shell-BP process should be interrupted.
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