Shell is studying the possibility of buying bp

The British oil and gas giant Shell has consultations with advisers about the potential absorption of his competitor - BP. This was told by Bloomberg sources familiar with the situation.

The deal began to be seriously discussed in recent weeks. But so far this is only preliminary consultations: Shell can eventually focus on the redemption of its own shares or other options. The final decision will depend on the further decrease in BP shares and oil prices.

BPis undergoing a deep crisis of investors' trust. Over the past year, the company has lost almost a third of the cost and is now estimated at only £ 56 billion (for comparison, shall shall fall by about 13%over the same period, its market value is almost three times more - £ 149 billion). The reason is the unsuccessful bet on the “green transition” under the former general director Bernard Luni. Additional pressure on the business is the collapse of oil prices.

If the transaction will take place, for Shell it will be a chance to return the position in the United States, where the company sold Conocophillips in 2021 assets in the Permian shale pool, Bloomberg notes.

• Shell said they were focused on the realization of internal potential. The BP refused to comment.