Shell profits double to record $40 billion as war drives up energy costs
February 02, 2023 | Company Operations, Earnings Reports
London, UK | Global energy giant Shell made a record profit of almost $40 billion in 2022, more than double what it raked the previous year after oil and gas prices soared following Russia’s invasion of Ukraine. Europe’s largest oil company by revenue reported adjusted full-year earnings of $39.9 billion on Thursday — more than double the $19.3 billion it posted in 2021 — driven by a strong performance in its gas trading business. The company’s stock was up 2.6% in London at midday. Just over 40% of Shell’s …