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Asociated Press: Shell Exceeds BP in Market Cap

(AP) – After suffering in recent years from one mishap after another, Anglo-Dutch oil major Royal Dutch Shell has overtaken its cross-London rival BP PLC as Europe’s biggest oil company.

Shell boasted a market capitalization of 128.33 billion pounds ($244.61 billion) at Wednesday’s close in London, based on the number of shares in issue at the end of June. BP, meanwhile, ended the day with a market value of 123.96 billion pounds ($236.28 billion).

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