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Shell’s seven consecutive years of falling oil and gas output

FT: BP overtakes Shell in market capitalisation

By Ed Crooks, Energy Editor

Published: January 11 2010 21:45 | Last updated: January 11 2010 21:45

BP overtook Royal Dutch Shell in market capitalisation for the first time in more than three years on Monday, reflecting the contrasting fortunes of the two rivals for the title of Europe’s biggest oil company.

In the past year, BP has benefited from rising production, cost cuts and success in finding oil in the Gulf of Mexico, while Shell has been burdened by heavy capital spending and seven consecutive years of falling oil and gas output.

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