Shell has overtaken Chevron to become the worlds second largest non-state oil company, in the wake of the companys acquisition of BG Group
This move increases Shell's value to £133 bn, which moves it ahead of Chevron, which is currently valued at £112 bn. Texas-based ExxonMobil remains the world's biggest non-state oil company with a value of £234 bn.
The acquisition of BG Group cost Shell £36 bn 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 Africa, with operations in Algeria, Benin, Botswana, Burkina Faso, Egypt, Gabon, Ghana, Kenya, Lesotho, Madagascar, Mauritius, Namibia, Nigeria, and South Africa. BG Group has a presence in four African markets, namely Egypt, Kenya, Tanzania and Tunisia.
