Shell profits surge on rebounding oil

London: Net profit at Royal Dutch Shell increased more than seven-fold in the first quarter as oil prices recovered from heavy declines, the energy giant said on Thursday. Profit after tax came in at $3.538 billion in the three months to March, compared with $484 million in the first quarter of 2016, the Anglo-Dutch group said in a statement. Royal Dutch Shell Chief Executive Ben van Beurden said the group had “benefited from improved operational performance and better market conditions”. — AFP