[sammyg2]

The rumor has been floating around for quite a while but it was systematically dismissed as folly until last week.
Things are happening now that indicate it may have some basis in fact. Two shell refineries in California are rumored to be in the process of changing hands, and coincidentally they are in very close proximity to BP refineries. Based on past experience the politicos on Kalifornia will not allow a company to have two refineries in a region so one usually gets spun off. Of of the rumored buyers also has a refinery in the bay area and there is talk that it will be sold off and replaced by the shell refinery down the road which is in better shape and has more capacity.

At at least one of the shell refineries they have been drilling and taking dirt core samples to test for contamination, another possible sign of a sale pending. No buyer will close escrow without environmental studies.
Shell is trying to gobble up the remaining shares of their interests in Canada, I can find no logical explanation for that at this time unless it has something to do with a merger.
In the past few weeks shell has anounced the sale or intended sale of several refineries in western europe, they are also in close proximity to BP refineries.

If it isn't happening it's a heck of a coink-idink.

Disclaimer: I own stock in one or more of the corporations mentioned.