Soaring oil prices boost Shell's earnings
Shell says earnings for the past year rose by 85% to a record $13.1bn (or £9.02 bn).
The company - more correctly Royal Dutch/Shell - says its earnings were helped by soaring oil and gas prices.
Shell's figures follow last September's fuel protests, which brought the UK and France to a standstill and led to calls for lower prices at the pumps.
Shell says the price of Brent crude oil averaged $28.50 (or £19.61) a barrel during 2000, compared with $17.95 (or £12.35) a barrel in 1999.
This hike in prices has led to higher prices for motorists at the pumps.
Shell is warning that, despite predictions of considerably lower oil prices this year, the situation remains uncertain.
"Oil prices climbed steadily during much of the year due to production restraints by the major oil exporting countries," the group says.
"These restraints prevented global oil stocks from recovering to normal seasonal levels.
"Uncertainty over both economic growth and oil supply mean crude prices are expected to remain volatile in 2001," Shell adds.
The Anglo-Dutch group has seen its earnings - which is uses as its key measure of profitability - from exploration and production more than double to $9.26bn (or £6.37bn), from $4.36bn (or just under £3bn) last time.
