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Shell Surpasses Chevron to Become No. 2 Oil Company: Chart
Shell, Total and other oil companies have been battered by a more than 75 percent collapse in crude prices over the past 18 months amid a global supply glut.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Royal Dutch Shell Plc has surpassed Chevron Corp. as the world’s second-biggest non-state oil company after completing the acquisition of BG Group Plc. The purchase raises Shell’s market capitalization to $177 billion and adds new assets in Australia and Brazil that give it more flexibility to ride out a downturn, Barclays Plc said in a report Monday. Exxon Mobil Corp. remains the world’s most valuable oil company with a market value of $337 billion, almost twice as big as Shell.