The UK government may need the help of another UK energy giant, such as Shell, to prevent foreign bids for struggling oil and gas company BP. BP's global assets and strong portfolio make it valuable for UK influence and energy security. The British government has the power to block any deal on energy security grounds, but market forces and BP's weak financial position may pose challenges. Encouraging Shell to acquire BP could help retain the benefits BP brings, but a mega-merger would likely face anti-trust hurdles and Shell may have little interest in such a deal.

Original article source: https://www.dailymail.co.uk/wires/reuters/article-14515167/Shell-BP-UK-government-s-white-knight-Bousso.html
Source Id: 2025-03-664960023