Beyond Exxon: Why a desperate mega-merger with BP might finally make sense

Political, environmental and market factors are conspiring to haul an unlikely transatlantic tie-up into the realm of the possible

Spare a thought for ExxonMobil shareholders. While the S&P 500 has rebounded from April’s Covid crash to hit a series of all-time highs this autumn, XOM stock is still down 40% year-to-date despite the recent vaccine-inspired market euphoria that has lifted Brent crude back above USD 50 per barrel.

This year has been indiscriminately cruel to oil stocks…