Rather than jockeying for an advantage in their weakened state, the two longtime rivals are set to work together more and more.
A megamerger of this sort would vault Shell’s market cap closer to ExxonMobil’s $468 billion and likely beyond Chevron’s $248 billion.
Last week the Big Oil companies weighed in with their earnings reports, and it was mostly a pretty sorry assembly.
Oil giants Chevron and BP made moves to refine their business, drilling down on core segments that crude demand assures will be worth it.
