<h1>British oil company denies acquisition talks with smaller rival after media reports citing unnamed sources</h1> British oil company formally denied media reports suggesting acquisition talks with smaller rival energy firm. The larger company issued statement to stock exchange clarifying no active consideration, approach, or discussions occurred regarding potential takeover offer. Wall Street Journal had reported early-stage talks citing unnamed sources. The potential target company has faced valuation challenges following abandoned renewable energy strategy and continues recovering from 2010 offshore drilling disaster that resulted in worker fatalities and billions in environmental damages.