Shell PLC (LSE:SHEL, NYSE:SHEL) has rebuffed a Wall Street Journal report that it has been in talks about potentially buying fellow oil heavyweight BP PLC (LSE:BP.).
After the WSJ reported on Wednesday that "early stage talks" had taken place, the FTSE 100 and New York-listed oil group said it has "not been actively considering making an offer for BP".
It added that it has also not made an approach to BP nor held talks about a possible offer.
"Shell confirms it has no intention of making an offer for BP," it added for further clarity.
However, it reserved the right to change its mind if someone else makes a bid for BP or if there is another material change of circumstances.
"We remain focused on delivering more value with less emissions through performance, discipline and simplification," Shell said.