Royal Dutch Shell and BP, Europes largest oil companies surprised analysts with their increasing profits while oil prices soar. According to The Financial Times both shares were up by 5% in London this morning. One conspicuous piece of good news in the Shell results was a rise in its production to 3.52m barrels of oil equivalent a day, up from 3.51m boe/d in the first quarter of 2007. Analysts had expected a fall. (Financial Times)
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