Shell Oil profit up

Shell Oil NZ made a $491 million profit in 2007, up 7.6 per cent on the year prior.

The profit included the sale of its LPG business and the sale of the EnviroWaste business owned by Fulton Hogan, it was reported today. Shell is a shareholder in Fulton Hogan.

The profit from the company's exploration and production business dipped 13 per cent to $281m and profits from the retail business dipped by $8m to $38m.

- NZPA