Shell enjoys 'excellent' first quarter

Shell today reported an “excellent” first quarter with a strong financial performance across its businesses.

The oil giant, which reported the biggest annual profits in UK corporate history in February, said its income had risen by 42% to $6.7bn (€5.1bn) in the period.

Production for the quarter was at the higher end of expectations and exploration drilling results had been encouraging.

The company said its plans to merge its Dutch and UK parent companies into one after nearly 100 years of separate operations remained on schedule.

Chief executive Jeroen van der Veer said: “The first quarter was an excellent start of the year for Shell.”