Future of BP as independent company thrown into doubt by Shell’s takeover of BG
By PETER CAMPBELL FOR THE DAILY MAIL
Future of BP as independent company thrown into doubt by Shell’s takeover of BG
The future of BP as an independent company was thrown into doubt yesterday as analysts said BG’s takeover will prompt a wave of consolidation in the struggling sector.
Firms across the industry have been hit by the falling oil price, trimming their values and making them more vulnerable to bids.
Michael Hewson, chief market analyst at CMC Capital Markets, said the move ‘raises expectations as to which other companies could also come into play as the oil and gas sector gears up for further consolidation, with speculation surrounding Tullow Oil and BP’.
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