Shell annual profit rockets

London - Energy giant Royal Dutch Shell said on Thursday that its 2011 net profit jumped by 54% to $30.92bn on the back of higher energy prices.

Fourth-quarter profit decreased however by 4% to $6.5bn, the group added in a results statement.

"I am pleased with our delivery in 2011, focusing on improving our operating performance and ramping up our growth projects," said chief executive Peter Voser in the earnings release.

He added: "Our fourth quarter results were impacted by a sharp downturn in industry refining margins and North American natural gas prices.

"The global economy and energy markets are likely to see continued high volatility."