Shell reports stronger than expected profits

Oil and gas giant Shell has reported a stronger than expected profit of $9.6bn (£7.6bn) for the first three months of the year.

The figure was higher than the same period last year despite a slide in energy prices.

Fossil fuel firms have been reaping record profits due to a surge in oil and gas prices following Russia's assault on Ukraine last year.

However, they have since fallen from the post-invasion peaks.

Shell chief executive Wael Sawan said the company had delivered "strong results and robust operational performance, against a backdrop of ongoing volatility".

Earlier this year, Shell reported profits of $39.9bn for 2022, double the previous year's total and the highest in its 115-year history.