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.
