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 by 50%, to $9.8 billion, from the same period a year earlier.
It's the first earnings report presented by Sawan since he took over as chief executive at the start of the year, replacing Ben van Beurden, who stepped down after nine years. Sawan also has reorganized the company’s core business units. The results were “truly stunning” and “will do nothing to quieten demands for further windfall taxes to redistribute some of the bounty Shell has enjoyed this year thanks to the Ukraine-inspired disruption to global energy markets,” said Russ Mould, investment director at AJ Bell, an investment service platform.
Shell expected to pay an extra $2.3 billion in taxes to cover the EU and U.K. windfall levies for 2022. The company said it paid out $26 billion to shareholders last year in dividends and share buybacks.
Gouging customers at the worst times. We need to go after the CEO and executives of these companies.
Blackface is profiting big time from this.
Profit is driving up the costs
BS
Pure robbery.
So their cost aren’t up because of war just their profits. And politicians never hold them to account
Lots of people here mad at the gas companies, but not at government for outsourcing resources. Canada has enough resources to be almost self sufficient, but we rely on other countries. If I had an apple tree in my backyard, I wouldn't be buying apples from Europe or the US.
Perhaps a boycott of Shell is called for?
No kidding 🙄🙄
Thank your local Liberal / NDP voter
Don't blame it on the war. Greed and the Trudeau liberals have driven up the prices at the pumps. Record profits,bullshit
Is the war driving up energy costs or is shell driving up energy costs to make double the profits 🤔🤔 this is a real mindtrap
As corporate greed goes in, crime rate will increase. Only if people know where those greedy executives live.
Additionally the carbon tax adds to that profit.
This is where the higher price of fuel goes… not actual war but the govt helping big corps to make money on the name of geopolitical unrest
'There's no good business case for oil.' Justin Trudeau 🤯 Canada could be a rich nation that leads the way for R&D of alternative energy. We aren't because we have a mentally impeded PM.
So?
They should be charged with theft, that’s so criminal taking advantage of people like that, I will never bye gas at Shell again, now I’ve boycotted Loblaws and Shell for this
Blame Putin or Justin but not corporate greed
But tell me again it's Justin Trudeau's fault and not profit gouging 😂😂🙄🙄
Putan price hike though
shameful
Military industrial complex
This is what windfall profit taxes are meant for.
Stupid excuse to dive up the cost and make profit, blood money!
How do those correlate
So no one at bell media has any oil and gas stocks in their RRSP or mutual funds? cdnmedia CdnMediaFailed
Propaganda here: Energy is high because Trudeau and Biden hate pipelines. They regulate too hard, they approve too slowly. Also, Banks are pressured to not give loans for oil and gas expansion The supply is being restricted by left wing governments
Amazing!....simple math....double the price, double the profit....then shift the blame.
Shell is laughing all the way to the bank
War has always been good for business and governments who want more and more taxes (great for taking more money for carbon taxes) Remember Canada... Income Tax is just a temporary measure to pay for World War One. 😆😆😆
Curious....do we get to see Bell numbers, see how much profit they made whom they layoff?
Oh really 🤔
That’s cool. We’re totally not being gouged there…or at Loblaws though. 😒💰🤑
Yes, charging more for oil/gas will increase profits. Blaming it on a war though is just lame.