Shell unveils new $3.5bn share buy-back after higher profits than expected

Despite payouts the oil and gas giant faces growing investor pressure to address its carbon emissions

Shell will shower its shareholders with another $3.5bn (£2.8bn) in share buy-backs over the next quarter after reporting better than expected profits of almost $8bn for the first three months of the year.

The company reported adjusted earnings of $7.7bn for the first quarter, below the $9.6bn earned in the same quarter last year but well above analyst predictions of $6.5bn.