Shell delivered a record $40 billion profit in 2022, the energy giant said today, capping a tumultuous year in which a surge in energy prices after Russia's invasion of Ukraine allowed it to hand shareholders unprecedented returns.
Annual profit reached $39.9 billion, more than doubling from a year earlier and far exceeding the previous record of $31 billion in 2008. Russia's war in Ukraine has sparked huge volatility in oil, gas and power markets around the world, from which Shell and its rivals benefited through their large global footprint and leading trading operations.
The company also announced a new $4 billion share buyback programme over the next three months, unchanged from the previous three. Shell aims to build a large renewables and low-carbon energy business as part of its ambition to sharply reduce greenhouse gas emissions in the coming decades.
Create a fake war between Russia/Ukraine and let decide to artificially inflate prices to make a profit
Disgusting
Yes, it's called Capitalism. What is your alternative. The Venezuelan model?
Greed knows no bounds!
Are they dropping prices then, no, why? Answer The Greens and Climate change agenda
All the ills of a capitalist system living off the back of the poor .
Scandalous but not surprising. Shell have nothing to fear if they have allegedly bribed every government, organisation and individual that might cause them a problem.
I smell a cartel. States should be taxing these profits at the highest possible rate to send a clear message that price-fixing and gouging won't be tolerated.
Why in God's name do we accept this and our bills flying up.
They are nice though.
Big oil companies and electricity suppliers etc should be made to pay more tax by paying more to National exchequers to help with the cost of living that they have exploited , war profiteers is all that they are !
Is it enough I hear them ask themselves NO is the resounding answer it is never enough
Sickening, another kick in the balls to the consumer, we all know prices are inflated and when you see the profits and the lack of action by governments around the world you can't but think its all a conspiracy, still over €600 for 500lt of home heating oil yesterday, sickened
Of course they did!!
And the government is giving them am 200euro per house and they won't bring down their prices till they get it ..
In US fossil fuel corporations receive $ 20 Billion in Subsidies EVERY-YEAR ..
Would love to know how many politicians have shares in these companies and that’s the real reason they won’t hammer them
And you think the government cares VAT rolls in they happy 😡
I wonder why 🙄
Looks we are being ripped off - and we probably are. However remember... Our WEF politicians are closing down oil and gas which will require these companies to spend billions on inefficient, unreliables like solar and wind.
Never forget The Ogoni Nine.
Hmmmm.... so its all in the efforts of money these damn fuel prices.
Profit from ripped off customers like me.
Is anyone really surprised by this? Energy companies of all types posting record profits and using Ukraine war as an excuse for the massive hike in prices. Can we please see the financial reports for the supermarkets too? Every item hiked up in price with no justification. Greedy
Slap 50% tax on
Crude oil price lower than at the start of the war....50% of price at pump is tax .
The Energy markets are a scam, people are being robbed by these companies and it is being facilitated by politicians. The cost of living crisis is being worsened by profiteering.
It's definitely being a good year for the oil industry, alright
Profits made of rising fuel costs. Energy now is ubiquitous in modern living, a necessity and as such should not be relied on by private entities but rather controlled by government and even EU level
Lol gas crisis and blaming Russia Ukraine war. Just greedy people wanting to get richer