Shell says it has 'no intention' of making an offer for rival BP

(Sharecast News) - Oil giant Shell said on Thursday that it has "no intention" of making an offer for rival BP. In a brief statement in response to media speculation on Wednesday, the company said it has not been actively considering making an offer for BP, it has not made an approach and no talks have taken place with regards to a possible offer.

"Shell confirms it has no intention of making an offer for BP," it said.

"We remain focused on delivering more value with less emissions through performance, discipline and simplification."

On Wednesday, the Wall Street Journal cited people familiar with the matter as saying that Shell was holding early-stage talks to buy its rival in what would be the largest oil deal in a generation.

Sources told the WSJ that talks between company representatives were active and that BP was considering the approach carefully.