Shell boosts earnings despite price fall

Royal Dutch Shell today announced higher profits of $6.93bn (€5bn) for the first three months of 2007, despite an easing in oil prices.

Earnings in exploration and production were slightly lower but the company more than recouped the difference in areas such as oil products and chemicals.

The overall profits figure was better than City expectations and compared with $6.01bn (€4.4bn) for the fourth quarter of 2006 and 6.09 billion US dollars a year earlier.

Royal Dutch Shell chief executive Jeroen van der Veer said: “These are again competitive results, driven by operating performance.”