Market Chatter: Shell CEO Prefers Share Buybacks to Takeover Bid for BP-March 2024-www.financetom.com

Market Chatter: Shell CEO Prefers Share Buybacks to Takeover Bid for BP

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Market Chatter: Shell CEO Prefers Share Buybacks to Takeover Bid for BP

May 26, 2025 12:17 AM

09:15 AM EDT, 05/02/2025 (MT Newswires) -- Shell (SHEL) CEO Wael Sawan prefers to repurchase more of the company's shares rather than initiate a takeover bid for BP (BP), the Financial Times reported Friday, citing the executive.

Sawan also told the news outlet that the company was well-prepared for lower oil prices in the coming months.

Sawan said that Shell's balance sheet was in the best shape in the past ten years, with leverage at below 19%, or 7% excluding the company's equipment leases, according to the report.

Shell did not immediately reply to a request for comment from MT Newswires.

(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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