22nd Apr 2015 05:41
LONDON (Alliance News) - BP PLC Chief Executive Bob Dudley has said the company has no appetite for a mega-merger, cooling speculation that the takeover of BG Group PLC by Royal Dutch Shell PLC will spark a wave of deals in the oil and gas industry, the Financial Times reports.
"I'm not sure big is absolutely seen as beautiful," Dudley, speaking at an energy conference in Houston, Texas, said. "We've got a good portfolio. I like our portfolio. We will see. I don't see the forces at work for lots of consolidation unless the oil price stays down for some time."
The comments come amid speculation that BP itself could become a takeover target for ExxonMobil Inc, the US oil group which has long been linked to a bid for the British major.
http://www.ft.com/cms/s/0/be7589fa-e864-11e4-baf0-00144feab7de.html#axzz3XpBDfttT
By Sam Unsted; [email protected]; @SamUAtAlliance
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