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The Observer: Market forces: Roll out the barrel

Richard Wachman
Sunday September 9, 2007

It is hard to believe that there is a recession looming with the price of oil at $73 a barrel. Accepted, there is a lot of speculative money in commodities, but demand remains buoyant, so it should come as no surprise that brokers are talking up the prospects for BP and Shell.

Shell, especially, looks to be on the front foot – it recently signed co-operation agreements with Russia’s Rosneft and PetroChina.

A possible merger between BP and Shell, an idea raised by former BP boss Lord Browne, is said to be off the agenda by his successor, Tony Hayward. For now, that is.

http://business.guardian.co.uk/marketforces/story/0,,2165146,00.html

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