Oil giants Royal Dutch Shell and BP made combined profits in excess of £7bn during the first three months of this year.

Shell reported first quarter profits of £3.92bn, while BP posted £3.32bn.

The figures have been buoyed by rising oil prices and come at a time when motorists are paying on average almost £5 a gallon.

The figures from both firms were well ahead of the equivalent periods last year - 12% higher for Shell and up 48% for BP - and much stronger than forecasts in the City.

Source: This Is Nottingham

More news in Nottinghamshire