Shell net profit more than doubles

London: Royal Dutch Shell on Thursday said profit after tax more than doubled in 2016, helped by a recovery for oil prices in the fourth quarter. Net profit for the full year came in at $4.58 billion (4.23 billion euros) compared with $1.94 billion for 2015, the Anglo-Dutch energy giant said in an earnings statement. The earnings take into account also the integration of smaller British rival BG Group, which Shell acquired one year ago in a mega takeover. Shell’s profit adjusted for exceptional items and the changing value of oil and gas inventories however fell eight per cent to $3.53 billion in 2016. Shell last year bought BG in a deal worth around $68 billion. — AFP