American Chevron Corp. has surpassed British oil giant BP as the world's third-largest international oil company in market value, behind Exxon Mobil and Royal Dutch Shell, it was reported on Tuesday.
Chevron's market capitalization now stands at 131.3 billion dollars, according to the San Francisco Chronicle.
BP's market capitalization is 130.5 billion dollars, while Shell's is 141.7 billion dollars. All three are far behind Exxon Mobil, worth a total of 358.6 billion dollars.
Chevron's stock price fell 2.20 dollars Monday to close at 61.71 dollars. But all publicly traded oil companies have seen their shares drop lately, dragged down by the stock market sell-off and the plunging price of crude oil.
Chevron is based in San Ramon, California.
Source:Xinhua
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