Shell in talks to buy rival BP in potential blockbuster oil deal: report

Shell is in early talks to buy rival BP, the Wall Street Journal reported Wednesday, citing people familiar with the matter.

Talks between company representatives are active and BP is considering the approach carefully, the report added.

Talks between Shell and BP are active, and BP is considering the approach carefully, the report added. REUTERS

BP shares jumped on the news. REUTERS

Reuters could not immediately verify the report. Shell and BP did not immediately respond to Reuters requests for comment.

Potential terms of any deal could not be learned and a tie-up is far from certain, the report said.

BP shares surged nearly 7%.