BLOOMBERG
By Eduard Gismatullin and Fred Pals
Jan. 11 (Bloomberg) — BP Plc is poised to unseat Royal Dutch Shell Plc as Europes largest oil company by market value for the first time in more than three years after reviving output growth and cutting costs at a faster pace.
BP rose as much as 2.7 percent to 638.30 pence, the highest price in almost 20 months, and traded at 634.20 pence as of 3:15 p.m. in London. That valued the company at 118.979 billion pounds ($192 billion). Shell added as much as 1.6 percent to 1,941 pence, and was last at 1,928 pence, giving it a market value of 118.346 billion pounds.