Shell Boss to Retire Next Year as Earnings Beat Forecast

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Europe's top oil company Royal Dutch Shell said on Thursday that its chief executive since 2009, Peter Voser, would retire next year as it reported first quarter results that beat expectations.

Shell, the last of the western world's top four oil companies to report results, joined its peers in delivering a result that topped market expectations, thanks in part to strong refining and trading performances, and despite production troubles in Nigeria.

Adjusted net profit on a current cost of supply basis rose to $7.5 billion in the quarter from $7.3 billion a year ago and compared with expectations of around $6.5 billion.