Royal Dutch Shell and BP, Europe's two largest oil companies, both saw first quarter profits jump thanks to record crude prices and higher natural gas prices, The Telegraph reports.
Shell's first quarter profits rose 25pc to $9bn, while BP's profit soared to $7.6bn from $4.6bn in the same period. Oil touched $100 for the first time in early January and reached $111.80 a barrel in March as a falling dollar spurred investors to buy commodities, while natural gas increased 22 percent on average in the first quarter. NORTHERN ROCK BREACHED capital rules six months before its collapse, yet failed to tell shareholders and continued to be given favourable “light touch” treatment by financial regulators, it emerged yesterday, according to The Times. Details of the breac...
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