Report: ExxonMobil considers taking over BP

“There have been talks at a high level, and Exxon has expressed a serious interest,” one insider said. “It is too early to talk about a bid yet, but they are clearing the way.”

The US government indicated that it would not stand in the way of any offers made by ExxonMobil and another US company reported to be Chevron, the paper said.

BP declined to comment on the report.

Takeover rumours have circulated before, given the financial pressure BP is facing in the wake of a massive oil spill in the Gulf of Mexico.

BP approached strategic investors over the last week about possible cooperations to avoid a sale of the company, according to media reports. Experts also believe that the British government would try to prevent a takeover of the long-established company.