Total, BP say feel no M&A pressures after Shell deal
PARIS/LONDON | BY MICHEL ROSE AND DMITRY ZHDANNIKOV: Thursday 16 April 2015
(Reuters) – French oil major Total (TOTF.PA) and British rival BP (BP.L) are under no pressure to make acquisitions after the recent takeover of BG Group by Anglo-Dutch rival Shell (RDSa.L), they said on Thursday.
Royal Dutch Shell (RDSa.L) unveiled plans last week to buy BG Group (BG.L) in the first oil super-merger in more than a decade, seeking to extend its lead in gas production and close the gap with the world’s biggest oil major, U.S. ExxonMobil (XOM.N).
Speaking at a conference in Paris, Total’s chief executive said Shell’s acquisition “made sense” but that there were other ways to grow in a falling oil price environment.
The TRUTH will set you FREE.
No comments:
Post a Comment