ForbesForbes Global 2000: Shell Becomes Europe’s Top Public Company As Oil Price Boom Drives Profits
David Dawkins: Forbes Staff: MAY 12, 2022
Petrol and energy giant Royal Dutch Shell has reclaimed its spot as Europe’s top-ranked public company on the Forbes Global 2000 ranking, pushing German car giant Volkswagen AG back down into second place.
The London-based Anglo-Dutch giant, with its distinctive yellow and red branding seen across Europe’s gasoline forecourts, is valued at $211 billion this year, a rise of nearly 40% over the year and over double the value of second-placed Volkswagen AG.
In May, Shell reported its highest ever quarterly profits for the first three months of 2022 at $9.13 billion, following a sharp rise in oil prices further heightened by Russia’s invasion of Ukraine in February and the punitive sanction regime placed on Russia thereafter. Having fallen to 324 on the list of 2000 listed companies last year, Shell has shaken off its pandemic blues and returned to the 16th spot globally in 2022.
The top-place oil giant in the world sits head and shoulders above the competition however, Saudi Arabian Oil Company (Saudi Aramco) is now third on the Forbes’ Global 2000 list with a value north of $2 trillion.
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