When can Shell bid for BP again?

Shell's restriction on bidding for BP expires on December 26.

Who is the new CEO of BP?

Meg O'Neill, formerly the head of Australia's Woodside, has been appointed as BP's first external CEO.

Why is Elliott pushing BP to change strategy?

Elliott wants BP to divest renewable assets, reduce debt, and pivot back to its core fossil fuels business.

Home / Business and Economy / BP Faces Takeover as Shell Ban Ends

BP Faces Takeover as Shell Ban Ends

21 Dec, 2025

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Summary

Shell's ban on bidding for BP expires on Boxing Day.
Meg O'Neill appointed as BP's first external CEO.
Activist hedge fund Elliott pushes for BP to divest renewables.

Takeover speculation surrounding BP is expected to surge as the restriction on Shell making a bid concludes on December 26. This comes shortly after BP appointed Meg O'Neill, formerly of Woodside, as its first external chief executive in its 116-year history, a move aimed at deterring potential suitors and shifting away from its Net Zero strategy.

Analysts suggest that the leadership changes are unlikely to halt bid discussions, with some noting Shell's history of targeting companies under new management. The activist hedge fund Elliott, which holds a 5% stake, is reportedly advocating for O'Neill to divest underperforming assets, including renewable energy projects, to reduce debt and refocus on fossil fuels.