Bloomberg Intelligence Shell Says It Has No Intention of Making an Offer for BP
Jun 26, 2025
Join Will Hares, a Senior Global Energy Analyst, and Jonathan Palmer, a Senior Equity Research Analyst, as they unpack Shell's firm decision not to pursue BP amid swirling acquisition rumors. Will dives deep into the implications of this corporate strategy on the energy landscape, while Jonathan sheds light on Walgreens' strong earnings surpassing Wall Street expectations. They discuss exciting shifts in the pharmacy industry and the evolving dynamics in energy and healthcare sectors, including the growing importance of tech partnerships.
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Strategic Divide Between US and European Majors
- Exxon and Chevron focus on growing oil and gas, investing heavily in areas like the Permian and Guyana.
- European majors shift rapidly toward renewables, which markets reward less favorably compared to U.S. strategies.
Energy Transition Ideology Fading
- The ideological push for rapid energy transition by European investors has faded recently.
- Oil and gas exposure remains valuable, leaving European majors caught between competing investor demands.
Cautious Drilling Amid Price Uncertainty
- Oil and gas companies maintain flat drilling investment amid subdued commodity prices.
- They prioritize shareholder returns like buybacks and dividends over growth currently.