Here we go again with merger, or acquisition, talk again with ExxonMobil or Chevron looking to acquire Shell or BP. Let’s face it, the US based energy companies will continue to crush the European energy companies if we keep up with renewable and ESG agenda. The returns are no way near the carbon based project and let’s face it after 100 plus years we have gotten pretty good at making money on carbon based projects. Wind farms and solar farms do not return anywhere near what a refinery can do. I would welcome such an acquisition, it would mean job losses but it will also return us to profitability. If we still had this mindset imagine what the BPF would have been.
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Never say never. The same was said before the ExxonMobile and ConocoPhillips. What’s different in this case?
Especially in this economic environment where oil companies are vilified (rightfully or not) for taking advantage of consumers with gas pricing, I highly doubt most governments would allow such a significant merger anytime soon.
These rumors pop up every few years, like mold in the grout of a humid South Texas bathroom.
Of course, the targets and acquirers flip around depending on the narrative promoted by the “source”.
For at least the past 30 years, one super major is supposedly on the verge of publicly announcing it’s moving ahead to acquire another one. Baloney.
Multiple governments, trade unions, etc. would require asset divestments to avoid monopolistic results, block large numbers of redundancies; then add the difficulties of merging large corporate cultures and on and on.
It hasn’t happened and it won’t happen because….while it might sound good, it would simply be an economic loser.
Shell will continue to sink until XOM will buy it for 10% of the cost
There's a good argument that ExxonMobil or Chevron would not be hampered by the wokeness of Shell and thus the assets of Shell would bring more return to shareholders if managed by XOM or CVX rather than Shell.