Oil giants Shell PLC (LSE:SHEL, NYSE:SHEL) and BP PLC (LSE:BP.) were a major brake on the progress of the FTSE 100 in early trading after the long weekend, as investors reacted to a sharp fall in oil prices the previous day.

Discussions inside Shell have gained momentum in recent weeks, driven largely by BP’s declining market capitalization. BP’s shares have lost nearly 22.4% over the past year due to weak oil prices, strategic missteps and investor discontent. Shell is ...

The selloff is governance-noise without disclosed financial misconduct, while the turnaround fundamentals (debt reduction, shareholder returns, improved operations) are already in motion. BP also still trades at a large discount to peers (about 5% vs Shell and ~30% vs TotalEnergies/Eni),

[Stay on top of transportation news: Get TTNews in your inbox.] BP Plc rose on May 5 after Bloomberg reported that Shell Plc is working with advisers to evaluate a potential acquisition of its U.K. rival. BP’s American depositary receipts climbed 1.9% to ...

Shell (NYSE:SHEL) has moved quickly to shut down speculation about a takeover bid for BP (LSE:BP,NYSE:BP), issuing a formal statement under the UK Takeover Code. According to the company, no talks have taken place and it has no intention of making an offer.

BP's stock price jumped as much as 10% after the Wall Street Journal reported that rival Shell is in early talks to acquire the British oil company. Shares of BP jumped $3.11, or 10%, to $32.94 in early afternoon trading. U.S.-listed shares of Shell, which ...

Speculation over a potential takeover of BP has intensified following activist investor Elliott Management’s acquisition of a nearly 5% stake. Analysts are considering various suitors—including Shell, Chevron, and ADNOC—especially as BP resets its ...