Sunday Telegraph
BP expected to exend gap with Shell in the battle of oil giants
The British oil major, now the biggest in Europe, is currently winning the race against its Anglo-Dutch rival
By Rowena Mason
Published: 8:12PM GMT 30 Jan 2010
Royal Dutch Shell is likely to endure more humiliation at the hands of BP this week, when it posts profits an estimated $1.7bn lower than its rival.
BP, which recently stole Shell’s crown as Europe’s largest oil company by market value, is likely to report profits of $4.6bn (£2.9bn). This 80pc up from $2.6bn in the last quarter of 2008 on a “replacement cost basis a measure used by oil companies to strip out the effect of changing inventories.