Possibly. At first glance, the shares do look cheap. Currently, BP has a forward-looking price-to-earnings (P/E) ratio of 7.6 while Shell trades at 7.8 times this years’ expected earnings.
Sept 25 (Reuters) - Trinidad and Tobago selected oil and gas producer Shell (SHEL.L), opens new tab as the preferred bidder for a shallow water block, beating out bids from BP (BP.L), opens ...