Shell may still need M&A after ruling out buying BP


Oil drums containing lubricant oil sit on a conveyor belt at a Royal Dutch Shell lubricants blending plant in Europe. — Bloomberg

BRITISH oil and gas giant Shell Plc has quashed a rumour: It’s not buying BP Plc.

But last week’s forceful denial doesn’t address why the merger and acquisition (M&A) chatter gained so much traction, which has less to do with the parlous state of BP than with Shell itself.

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Shell , BP , acquisition , energy , oil

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