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Late word from ThisIsMoney in the UK is that BP (BP) and Royal Dutch Shell (RDS.B) are discussing a merger "which would be producing more than 70% more oil and gas than industry leader ExxonMobil." The deal seems far-fetched.
A merger would certainly allow for significant cost savings, but getting the approval of governments that are already concerned about big oil profits would be another matter. The perception that the largest oil companies have too big a hand in setting prices may not be true, but it creates a reaction that has political ramifications well beyond the profit and loss statements of the big oil firms.
A rumor. That is all.
Douglas A. McIntyre
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