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Sunday, March 16, 2025

Anger as Shell makes ‘obscene’ $40bn in profits

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Shell has prompted anger after annual profits more than doubled to a record of nearly $40bn, boosted by a surge in wholesale gas prices linked to the war in Ukraine and as households struggle to pay huge energy bills.

The oil and gas company posted profits of $9.81bn in the final quarter of last year, compared with $6.4bn a year earlier. That took annual adjusted profits to $39.87bn (£32.2bn) in 2022, far outstripping the $19.3bn notched up in 2021.

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