Shell has overtaken Chevron to become the world’s second largest non-state oil company, in the wake of the company’s acquisition of BG Group
This move increases Shell’s value to US$191.8bn, which moves it ahead of Chevron, currently valued at US$161.5bn. Texas-based ExxonMobil remains the world’s biggest non-state oil company with a value of US$337.5bn.
The acquisition of BG Group cost Shell almost US$52bn and the deal was completed yesterday, after first being mooted in April 2015. It is the biggest oil deal this decade to date.
Shell has a major presence in the Middle East, with operations in UAE, Jordan, Egypt and Qatar. A new joint venture petrochemicals project is also underway in Qatar.
