Royal Dutch Shell reports record profits

Royal Dutch Shell today reported another profits record, after higher oil prices lifted its annual earnings to $25.36bn (€19.5bn).

The figure, which is 21% higher than a year earlier, included a better-than-expected performance in the final three months of the year, when the company’s earnings figure rose 11% to $6.01bn (€4.6bn).

The recent fall in the price of oil means analysts are expecting the year ahead to be much tougher for Shell, particularly as it will be under increasing pressure to find new sources of oil.