Leading oil giants see profits rise on back of oil price

London - Shell and BPRising oil prices have boosted the profits of Britain's two leading oil giants, Shell and BP, in the first quarter of this year, figures showed Tuesday.

Shell reported record profits of 3.9 billion pounds (7.8 billion dollars), while rival BP saw profits rise by 48 per cent to 3.31 billion pounds.

The figures come after Anglo-Dutch firm Shell reported annual profits in January of a record 13.9 billion pounds.

Shell shares are listed in Britain and the Netherlands, while the company's headquarters are in The Hague. (dpa)