Royal Dutch Shell, the oil giant, has struck a $156m (€130m) settlement with US and UK regulators to settle allegations relating to its overstatment of oil reserves. The UK regulator had alleged violation of market abuse laws.

The Anglo-Dutch group said on Thursday that it would pay a $120m "civil penalty" to the US Securities and Exchange Commission, the securities regulator, "without admitting or denying the SEC's findings or conclusions".