Shell/BP Shell Game

After all the fuss, the new streamlined Royal Dutch Shell looks little different from the stodgy old one. The unification of the oil giant’s shares earlier this month increased Shell’s index weighting and gave the stock a momentary boost. But now such technical issues are fading, investors are looking at fundamentals again. Next to BP, the comparison is not flattering. In the second quarter Shell’s profits rose by less than BP’s; production fell while BP’s rose; and Shell left its dividend (deno...