AMSTERDAM (AP)  Royal Dutch Shell, Europe’s largest oil company, reported Thursday that fourth-quarter profit rose 60 percent because of the sale of some assets and higher oil prices.

Net income was $8.47 billion, up from $5.28 billion in the period a year ago.

Sales rose to $107 billion from $75.5 billion despite a fall in oil production.

For the year, profit was a record $31.3 billion, while sales rose 12 percent, to $356 billion.

Despite the record earnings, which prompted calls for a windfall tax, Shell’s fourth-quarter numbers “did miss analysts expectations by a whisker,” Richard Hunter, an analyst at Hargreaves Lansdown Stockbrokers, said in a research note.

Mr. Hunter said that in addition, Shell’s refusal to disclose its proven reserves  a sensitive topic since the company was forced to restate them downward in a 2004 accounting scandal  was weighing on shares.