Earnings

Shell Oil Co., the nation’s seventh-largest oil company, said its profits rose 8.5% for the year and 5.8% in the fourth quarter. Much of those gains came from outside the operations of Shell’s oil business, including tax benefits and lower interest expenses, the Houston-based firm said. Profits for the year were helped by a 109.5% surge in earnings from Shell’s chemical business. But profit was relatively flat from oil and natural gas production and fell 6.3% from refining and marketing.

Avco Corp., Greenwich, Conn., reported that profits for its fiscal year ended last Nov. 30 climbed 22.3% from fiscal 1983. Avco cited the strong results turned in by its financial-services and aircraft engine units. Avco is a diversified financial-services, insurance, management and aerospace holding company.