Shell CEO Says Pursuing Major Deal Risks Being a Distraction

Shell Plc Chief Executive Officer Wael Sawan said the UK energy company will continue to look for potential acquisitions, but warned of the risks inherent in pursuing a major deal.

Speaking in a Bloomberg TV interview Tuesday, he declined to answer directly if Shell would consider looking at its rival BP Plc, but said “the bar is high” for any transaction. Sawan said he expects smaller-scale, bolt-on acquisitions when the company does get around to M&A, and that they would likely center around upstream production.