BP left stranded by US vilification as rejuvenated Shell storms ahead
Article by Jeremy Warner published 12 April 2015 by The Sunday Telegraph
BP left stranded by US vilification as rejuvenated Shell storms ahead
They say that fortune favours the brave. Ben van Beurden (right), chief executive of Royal Dutch Shell, will be hoping they are right, for by firing the starting gun on a new wave of oil industry consolidation with an audacious £47bn swoop on BG Group, he’s taking quite a gamble on a recovering oil price.
By acting now, Mr van Beurden may have gained some sort of first mover advantage.
If he succeeds, he will also have catapulted his company into pole position as the world’s largest oil major. But he is also paying a very fancy price – so high, in fact that despite the enthusiastic backing of the BG board and the lack of any obvious regulatory obstacles, there is some manifest scepticism in markets about whether the takeover will ever come to fruition.
The TRUTH will set you FREE.
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