BP shares jump 7% on report it is in early-stage talks to be acquired by Shell

BP The share jumped on Wednesday in a report in which the oil major was in an early stage meeting. Shell.

People who are familiar with the subject told Wall Street Journal The speeches between BP and Shell are active, but an agreement is far from definite. One person to the magazine, talks are progressing slowly.

BP shares increased by about 7%. The British oil major is currently about $ 85 billion.

However, people familiar with CNBC Brian Sullivan are unlikely that Shell will buy the entire BP. People are more likely to buy different parts of BP if a deal is made.

BP has fought to find direction in the last five years. He set ambitious goals to reduce carbon dioxide emissions and invest in renewable energy. However, BP announced in February to increase oil and gas investment and reduce the renewable expenditure of the company’s Shell and US competitors because it performed low.

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