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Market Chatter: Shell, TotalEnergies Ventures, Others Said to Eye BP's North Sea Portfolio

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Shell (SHEL.L, SHELL.AS) and Equinor's (EQNR.OL) 50/50 Adura joint venture, and TotalEnergies (TTE.L, TTE.PA), Repsol (REP.MC), and HitecVision-backed Neo Next+ are among the companies interested in acquiring BP's (BP.L) North Sea assets, Bloomberg News reported Wednesday.

People familiar with the matter told the news agency that other possible bidders include EnQuest (ENQ.L), Harbour Energy (HBR.L), Ithaca Energy (ITH.L), Serica Energy (SQZ.L), and Vår Energi (VAR.OL). Talks are in progress, and there is no guarantee that any of the potential buyers will make an offer, according to the report.

In July, BP announced plans to sell its North Sea business, which includes five production hubs, as part of its portfolio review and capital allocation strategy.

Vår Energi and Ithaca Energy declined to comment, while Adura, Neo Next+, BP, EnQuest, Harbour Energy, and Serica Energy did not immediately respond to requests for comments from.

(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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