- Royal Dutch Shell is to substantially increase its dividend offering after its adjusted earnings climbed to $5.53 billion (£3.96 billion) - the highest since the fourth quarter of 2018.

This comes on the back of higher oil and gas prices.

The company has increased its dividend for a second consecutive quarter by 38% to $0.24 (£0.17).

It has launched a $2 billion share buyback programme after second-quarter profits jumped to their highest in over two years.

But fuel sales in the second quarter were short of pre-pandemic levels at 4.5 million barrels per day, but up 9% from 4.16 million barrels per day in the first quarter.

Chief Executive Ben van Beurden commented: 'We are stepping up our shareholder distributions today, increasing dividends and starting share buybacks, while we continue to invest for the future of energy.'

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