Royal Dutch Shell PLC, Europe's largest oil company, reported Thursday fourth-quarter profit rose 60 percent, due to divestments and higher oil prices. Net income was US$8.47 billion (¤5.73 billion), up from US$5.28 billion, a company record in dollar terms. Sales rose to US$107 billion (¤72.4 billion) from US$75.5 billion despite a fall in oil production. Chief Executive Jeroen van der Veer described the results as «satisfactory» overall, noting that the company had weak refining margins but «launched new (production) projects ... and achieved exploration successes.» Shares fell 1.3 percent to ¤23.77 (US$35.11) in Amsterdam, the Associated Press reported.