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 …

London, UK  | – UK multinational oil and gas super major BP saw its profit more than double during the third quarter of 2018, making it the highest quarterly result in more than 5 years. For the Q3 2018, BP’s underlying RC profit was $3.8 billion, which is more than a double from a year earlier and the highest quarterly result in more than 5 years, including significant earnings growth from the Upstream and Rosneft. This compares to a $1.87 billion profit in the Q3 2017. Underlying …

London, UK | –  Royal Dutch Shell Plc reported a near 50% rise in quarterly profits, driven by strong refining, while solid cash generation underscored the oil and gas company has adapted well to a world of low oil prices. The Anglo-Dutch company sharply boosted its cash generation in recent quarters as the effects of cost cuts and asset sales kicked in following CEO Ben van Beurden’s preparations for “longer forever” oil prices following the 2014 downturn. “Shell’s three businesses all made resilient contributions to …

London, UK | – Statoil ASA, Norway’s  international energy company and the world’s largest offshore operator, rose the most in five months after first-quarter profit climbed on higher output amid recovering crude prices and as it deepened cost cuts to emerge from a downturn that has battered the industry for more than two years. The shares rose as much as 3.7 percent, the most since Dec. 12, and were up 2.9 percent as of 9:29 a.m. in Oslo, making it the biggest gainer on the Stoxx …