Shell surpasses Chevron
THE HAGUE, February 16, 2016 – Shell has passed fellow super-major Chevron to become the second-biggest non-state oil company after merging with BG Group on Monday.
The merger was launched in April of last year and was ultimately sanctioned by the UK High Court last week for a final cost of USD 68.2 billion. BP Group was officially delisted from the London Stock Exchange on Monday.
The acquisition raises Shell’s market capital to USD 177 billion and bolsters Shell’s access to Brazil’s massive pre-salt venture, exploration rights in Tanzania and BG’s massive LNG assets in Australia. It includes interests off UK, Norway, Kazakstan, Egypt, India and elsewhere in Asia.
ExxonMobil is the world’s most valuable energy company, worth USD 337 billion, almost double Shell’s market value.