Leading oil giants see profits rise on back of oil price

April 29th, 2008 - 5:16 pm ICT by admin  

London, April 29 (DPA) Rising oil prices have boosted the profits of Britain’s two leading oil giants, Shell and BP, in the first quarter of this year, figures showed Tuesday. Shell reported record profits of 3.9 billion pounds ($7.8 billion), while rival BP saw profits rise by 48 percent to 3.31 billion pounds.

The figures come after Anglo-Dutch firm Shell reported annual profits in January of a record 13.9 billion pounds.

Shell shares are listed in Britain and the Netherlands, while the company’s headquarters are in The Hague.

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