03:21 PM EDT, 04/11/2024 (MT Newswires) -- BP (BP) was recently considered for acquisition by the United Arab Emirates' state-owned Abu Dhabi National Oil Company, but the deliberations did not progress, Reuters reported Thursday, citing people familiar with the matter.

ADNOC eventually decided not to buy BP, with certain political considerations also seen standing in the way of a deal, according to the report.

ADNOC, a BP spokesman, and a spokesman for Britain's business ministry declined to comment, Reuters said.

BP and ADNOC did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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