U.S. Markets closed

News Summary: Shell 4Q earnings rise on refining

The Associated Press

BULLISH ON ENERGY: Royal Dutch Shell PLC said Thursday it plans to continue investing aggressively in new projects in the coming years, as it sees a bright future for the oil and gas industry despite ongoing economic uncertainties around the world.

BOTTOM LINE: Europe's largest oil company announced a below-expectations 2.6 percent increase in net profit to $6.67 billion fourth quarter net profit.

THE REASON: The increase in profit was mostly due to a turnaround at Shell's refining arm, which booked a profit of $1.2 billion, compared with a loss of $278 million in the same period of 2011.