Shell’s net profit surged to a record $42.3 billion last year, the British energy giant said Thursday, as Russia’s invasion of Ukraine sent oil and gas prices soaring.
The post-tax figure was more than double the amount achieved in 2021, the group’s earnings statement revealed. Revenue rocketed 45 percent to a dizzying $381 billion in 2022, mirroring huge gains by rivals.
Colossal profits for energy majors have sparked public fury amid a cost-of-living crisis fuelled by sky-high energy bills.
Environmental campaigner Greenpeace meanwhile on Thursday protested outside Shell’s London headquarters, arguing that the group is “profiteering from climate destruction”.