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Oceaneering Secures Multi-Year GTA Job from BP

Oceaneering will provide support for this contract using a multi-purpose vessel equipped with two of its work-class ROVs. The project will also involve management, engineering, and integration services delivered by Oceaneering’s local and international teams. Engineering and pre-mobilization activities have started, and field operations are anticipated to begin in the second quarter of 2025. The contract is initially set for three years, with two additional one-year extension options available.

Shell Studying Merits of BP Merger

Shell Plc is working with advisers to evaluate a potential acquisition of BP Plc, though it’s waiting for further stock and oil price declines before deciding whether to pursue a bid, according to people familiar with the matter.

The oil major has been more seriously discussing the feasibility and merits of a BP takeover with its advisers in recent weeks, the people said, asking not be identified because the information is private.

BP Faces Shareholder Showdown Amid Oil Price Crash

Shareholders, especially activist hedge fund Elliott, will want to make their position known at the AGM votes on Thursday. Activist investor Elliott, which has been pushing for dramatic changes at BP since amassing a 5% stake in the supermajor, is likely to express its continued frustration with BP’s performance by voting against the re-election of directors.