Shell is studying merits of buying BP, Bloomberg News reports
For several years, BP and Shell were almost equal in size, but over the past few years Shell has grown to almost twice the size of BP, with a market value of about 149 billion pounds. On Friday, when asked about a possible takeover bid for BP, Shell's, Chief Executive Wael Sawan told the Financial Times he would rather buy back more Shell stock. A Shell spokesperson confirmed the comments.