Shell is in preliminary conversations to acquire BP, which is carefully analyzing the approach, according to the Wall Street Journal.
Negotiations between companies are underway, but the terms of a possible agreement have not been disclosed and a transaction is still far from certain, the newspaper said, citing sources familiar with the matter.
BP shares traded in New York even rose 10%, reaching $ 32.94.
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BP is under strong pressure after years of under expected performance and the intervention of the aggressive shareholder Elliott Investment Management.
The speculation that the company, based in London, would become the target of acquisition, has been growing ,.
An eventual fusion between Shell and BP would be one of the largest acquisitions ever seen in the oil industry, joining the iconic British giants in a transaction discussed from time to time for decades.
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Companies have been nearby rivals – with similar size, scope and global influence – but their paths have diverged in recent years after BP quickly advanced to the low -carbon energy sector.
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