Oil giant reports record annual profits


Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would cost the group about $2 billion.

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British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s full-scale invasion of Ukraine last year.

Shell reported adjusted earnings of $39.9 billion for the full-year 2022. This comfortably surpasses the $28.4 billion in 2008 which Shell said was the firm’s previous annual record and is more than double the firm’s full-year 2021 profit of $19.29 billion.

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Source cnbc.com

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