Abu Dhabi's Adnoc Explored but Ruled Out BP Takeover

Despite preliminary discussions, Adnoc decided against acquiring BP due to strategic misalignments and political considerations.

Adnoc considered a multibillion-pound bid for BP but halted discussions due to strategic and political concerns.
BP's share price rose following reports of the potential takeover, reflecting its undervalued status compared to global competitors.
Recent global oil industry mergers have fueled speculation about BP's vulnerability to a takeover.
BP and Adnoc have a history of collaborations, including joint ventures in the Middle East and hydrogen projects.
The UK government's power to intervene in significant acquisitions adds a layer of complexity to potential deals involving key national companies.