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Tuesday, December 2, 2014
INCREDIBLE DOODLE ARTWORK
The prospects of BP being taken over by Royal Dutch Shell
Can BP plc Be Acquired By Royal Dutch Shell plc?
Bidness Etc discusses the prospects of BP being taken over by Royal Dutch Shell plc (ADR) owing to declining crude oil price
By: MICHEAL KAUFMAN
Published: Dec 2, 2014 at 2:21 pm EST
Published: Dec 2, 2014 at 2:21 pm EST
BP plc (ADR) (NYSE:BP) stock is up 2.6% on speculation that Royal Dutch Shell plc (ADR) (NYSE:RDS.A) might be interested in acquiring the British oil supermajor and thus move toward greater consolidation in the European energy sector. Around 7.9 million BP shares had been traded by 12:30 p.m. EST, which is 25% higher than the 30-day average daily trading volume of 6.32 million shares. Meanwhile, Royal Dutch Shell plc (ADR) (NYSE:RDS.B) stock price is also up more than 2.5% today.
But it looks highly unlikely that the Hague-based energy company will be making such a big move when outlook for the oil industry is highly uncertain due to the Organization of the Petroleum Exporting Countries (OPEC) maintaining crude oil output at 30 million barrels per day (bpd). Since the move by OPEC, Brent crude (NYSEARCA:BNO) futures have lost 7.8% of their value, while West Texas Intermediate (WTI) (NYSEARCA:USO) futures are down 7.6% in the same period.
Another obstacle to the merger will be challenges from regulatory authorities across the world. Furthermore, BP’s exposure in Rosneft also makes it an unattractive target because of economic sanctions in place on Russia.
News of BP being a takeover target first made rounds last month, originating from Oppenheimer Holdings Inc., Fadel Gheit, and Luis Amadeo. They highlighted that a potential merger with any other oil supermajor will result in cost saving of approximately $10 billion.
Bidness Etc believes these takeover talks are merely rumors, and that there is no concrete interest shown by Royal Dutch Shell owing to overall distress in the energy sector.
The TRUTH will set you FREE.
BP spiked in afternoon trade
BP surges on bid speculation
The Telegraph: BP and BG boosted by bid talk
Oil and gas majors BP and BG Group were in demand on talk the two companies had been left vulnerable to predators after steep falls in their share prices.
BP spiked in afternoon trade and closed 19.35p higher at 433.85p – a 4.7pc gain – amid chatter that Royal Dutch Shell is eyeing a bid approach.
Minutes after BP surged, the excitement spread to gas group BG, which rose 30.9p, or 3.4pc, to 935½p on two rumours: one of a potential takeover by Shell, the other that ExxonMobil and Chevron were considering a break-up of the company.
Spokesmen for BP, BG and Shell all said they did not comment on market rumours, while some traders dismissed the chatter as spurious. But oil and gas shares have had such a torrid time of late that analysts had nevertheless been expecting deal speculation to emerge.
The TRUTH will set you FREE.
SHELL DEEDS NOT WORDS THAT COUNT
Shell’s disdain for its governing constitution, Shell Business Principles
By John Donovan
A few days ago I published an article pointing out that the Shell Business Principles document, proclaiming Shell’s core values and setting out the ethical platform on which Royal Dutch Shell supposedly operates, is conspicuously out of date.
The version published onshell.com still bears the name of Peter Voser who resigned as Shell CEO in controversial circumstances a year ago.
The document is accessible in multiple languages on shell.com. Those in Dutch, Chinese, German, Italian, Norwegian, Polish, Portuguese, Russian, Spanish, Thai, Turkish and Vietnamese – are all signed by Peter Voser.
A very slow transition seems to be in progress. We have found a Shell Code of Conduct document signed by Ben van Beurden, the current COE.
However, on a number of Shell websites e.g. the UK, Nigeria, Shell Sarawak and Oman, the Shell Business principles document is signed by Jeroen van dear Veer, who was CEO three CEO generations ago.
Here is a screen shot from the document on the Shell UK site taken 2 December 2014.
Perhaps, somewhere in the far flung Shell empire, there is one still signed by Sir Henri Deterding, or even Moses.
If current senior Shell management has such little regard for the Shell Business Principles, why should Shell employees, ethical investors, or anyone else, treat the principles as anything other than empty words that do not need to be heeded.
We have received encouraging Shell insider comments about the leadership qualities of Mr Ben van Beurden. Whoever has direct responsibility for the global uniformity of the Shell General Business Principles and making sure they are current, is badly letting him down, bearing in mind that Mr Van Beurden is ultimately responsible.
Looking at the guidance over fighting corrupt practices, to my certain knowledge, Shell has been guilty on almost all counts. Ask the Irish Shell supplier, OSSL. The principles were supposedly in operation for the whole period of the Corrib Gas Project, which was mired in corruption at the hands of Shell.
Whatever the status of the claimed Shell ethical code, irrespective of whose name appears, it is deeds, not words, which count.
The TRUTH will set you FREE.
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