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Oil giant gains

Rising oil prices see Shell profits leap

Rising oil prices helped Royal Dutch Shell’s profits leap in the last three months of 2017.

The Anglo-Dutch giant said profits on a current cost of supply measure – which strips out price fluctuations – jumped 140% to $4.3bn (£3bn) compared with the same quarter in 2016.

This took annual profits on the CCS measure to $15.8bn, up 119% on the year before.

Shell chief executive Ben van Beurden called 2017 a “strong financial performance”.

In a statement he said the year was one “of transformation, in which we showed we have what it takes to deliver a world-class investment case”.

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