Oil giant Shell reported a 48 per cent fall in first-quarter profits to $1.993 billion today, but it has the best result of the world's top three oil firms.
Shell and Royal Dutch shares climbed 3.6 and 1.96 per cent, respectively, after the figures were released this morning.
The Anglo-Dutch company, which has been weakest performer of the giant oil trio in terms of investor confidence this year, blamed weaker oil prices and tough fuel refining conditions for the profit drop.
Analysts had forecast profits of between $1.4 and $2.1 billion with consensus at $1.85 billion.
Exxon-Mobil reported a year-on-year earnings decline of 58 per cent last week and BP a fall of 57 per cent this week. Both have heavier exposure to the United States than Shell, where profit margin declines have been biggest.