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Global energy giant Shell has followed U.S.-based Exxon Mobil and Chevron to double its annual profits with a record high last year as oil and natural gas prices soared on the back of Russia’s invasion of Ukraine.
AP reports London-based Shell Plc posted adjusted earnings of $39.9 billion for 2022 in its financial results for the final three months of the year. Adjusted earnings in the fourth quarter, which exclude one-time items and fluctuations in the value of inventories, rose to $9.8 billion.
Exxon Mobil also made $56 billion in profit last year, its largest annual haul ever.
