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The BP logo is visible at the gas station on this illustration made in Poland on March 15, 2025.
Nurphoto | Nurphoto | Gets the image
Oil gigan PP He was involved as a candidate for absorption as a candidate – but energy analysts call into question whether any of the most similar suitors are suitable.
British energy giant, which holds an annual general meeting on Thursday, recently sought to solve something of the identity crisis by launching a fundamental reset.
Seeking to restore investors’ trust, BP in February has promised to reduce renewable costs and increase annual costs for the main business of oil and gas. CEO Murray Ayukhinclos is – Note What the turn begins to attract “considerable interest” in the firm’s non -core assets.
The green BP’s green strategy is worth the prolonged period of lack of work compared to peers in the industry, with its depressed stock price repeated speculation promising connection with a home competitor Shell. American oil giants Exxon Mobil and Chevron They were also advertised as possible grooms for £ 54.75 ($ 71.61 billion).
Shell refused to comment on speculation. BP, Exxon and Chevron representatives did not respond to a comment on CNBC.
“Of course, BP is a potential purpose of absorption – undoubtedly,” said Maurizio Carulli, an analyst on energy and materials in Quilter Cheviot, CNBC by video call.
“I would like to make sense of the question” whether to catch the application for BP “in a more general consolidation that is happening in the resources sector, both oil and mining – especially last year, many companies thought it is better than build,” he added.
Logo shell in Austin, Texas.
Brandon Bell | Getty Images | Gets the image
For example, in the energy sector Exxon Mobil completed Its purchase of natural resources of $ 60 billion last May, and chevron still search Purchase Hess for $ 53 billion. The latter agreement remains enveloped in legal uncertainty, but the arbitration is scheduled for the next month.
In mining -space, market speculation pushed into exceeding At the beginning of the year, the following reports of potential connection between branch giants Red river and Glencore. Both companies refused to comment at the time.
Never say never, yes? I think even Exxon-Chevron in the depths of pandemic conversations, so I think it would even be empty.
All is well
Director of Shares in Morningstar
Quilter Cheviot Carul called Chevron as a potential groom for BP, especially when the pursuit of the US Giant.
Speculations about the potential fusion between Shell and BP, meanwhile, are far from new ones. Carul said that while the rumors have some merits, a promising transaction is likely to cause antitrust regulation problems.
It is even more important that the Carul added that the step in acquiring the BP would contradict the unwavering attachment of Shell to the discipline of capital under the Director -General of Vaela Svan.
“Existential crisis”
‘Never say never, huh?
“I wouldn’t shoot anything on the table. You know, oil and gas are facing the existential crisis. Now the views are different from how quickly this crisis comes to mind. I think we are still in decades,” Good said.
For Shell, Morningstar’s Good said that any desire for BP would probably be an attempt to unite two British peers, unlike open acquisition – although he said he did not expect such a prospect in the near future.
The sun goes for the outbreak of gas burning at the Dora Oil Refinery in Baghdad on December 22, 2024.
Ahmad al-Rubai | AFP | Gets the image
Asked about the likelihood that Chevron seeks to purchase BP when the BP Boarding Co -Buy, Good Morningstar said he couldn’t turn it off.
“The BP is definitely no growth prospects that GESS does, but you can get a situation where, as I said with Shell, you would have purchased BP, depriving a lot of expenses, of course, the headquarters will no longer be in London … But it does not solve the problem that was formerly chevron.
“The problems faced by these companies should be, please shareholders, and two ways to do it really – cut the costs and return cash. So, if you can continue to lean into this model, then this is probably a way to do it,” he added.
What’s next for BP?
Michel Della Vinya, Head of the EMEA Natural Resources Resources at the address Goldman SachsHe described the recent strategic reset of BP as “very wise” and “thought out”, but acknowledged that he could not go far enough for the investor of the activist.
American Hedge -Fund Elliott Management justify He built almost 5% of the shares to become one of the largest BP shareholders. Meanwhile, the investor activist followed this, recently pushed investors to vote against Helge Lunda’s re-examination as chairman at the future BP shareholder meeting in protest of the firm’s recent strategy. BP has since – Note This Lund will probably go away in 2026, starting the continuity process.
“I think the BP portfolio has three major additional features that any investor -activist would like to see monetized. The first is not all in the hands of BP, this is the Rosneft stock monetization,” Della Vigna said on CNBC on the video.
PP announced He abandoned him 19.75% of the shares at the Russian state oil company Rosneft shortly after a complete invasion of Moscow in Ukraine at the end of February 2022. This noted the expensive and sharp end of more than three decades of activity in the country.
On March 19, 2024, the CEO of BP Murray Auchincloss appeared during the Ceraweek oil summit in Houston, Texas.
Mark Felix | AFP | Gets the image
The second additional availability for BP, Della Vigna, is a marketing and convenient business business.
“I mean that the BP, a company that traded three times eBitda, has a division that can trade 10 times eBitda, huh?
EBITDA is a standard metric that indicates the firm’s profit to interest, taxes, depreciation and depreciation.
“The third option- BP- is an energy company focused on the US- and of course?
“So, getting acquainted with the UK, if the UK gets you the biggest discount in any other region in big oil, does not feel correct.
