HomeEconomyShell is making record...

Shell is making record profits of $40 billion

Photo: Media.az

The company’s significant profit in 2022 is due to rising energy prices following Russia’s invasion of Ukraine.

The British company Shell made a record profit in 2022. In particular, its profit reached 39.9 billion dollars. This is due to the increase in energy prices after the Russian invasion of Ukraine. This was reported by Reuters.

Thus, the company’s annual income is twice as large as a year earlier. It also significantly exceeded the previous record in 2008 – $31 billion.

Shell’s record profits, like those reported by US rivals earlier this week, will increase pressure on governments to further increase taxes on the sector.

“We aim to remain disciplined while delivering compelling shareholder returns,” said CEO Wael Savan.

The company also reported record fourth-quarter 2022 revenue of $9.8 billion on the back of a strong recovery in liquefied natural gas (LNG) trading revenue.

The British government, against the backdrop of rising profits for Shell and its competitors, decided to impose a windfall tax on North Sea operators.

It can be recalled that after the start of the war between Russia and Ukraine, Shell announced its decision to withdraw from projects in the Russian Federation. In May, the company sold its network of about 400 gas stations and an oil production plant in the Tver region to Lukoil.

Shell announces exit from major LNG project in Russia

news Correspondent.net on Telegram. Subscribe to our channel Athletistic

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The DPRK was promised by the “unclear” Poddjakke of Russia in the war against Ukraine

Russian military criminal, secretary of the Russian Council Sergey Shayga, visited Phogyan, where he met with Kim Jong. He promised him that the DPRK would support Russia, in particular, in the war against Ukraine. The parties discussed a joint operation in the Kursk...

In Pryluky, RF Postal House -Topl in the leader of the leader

In Pryluky, a hostile drone hit the house of the head of the local fire department. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } His family was killed: his wife,...

Russians were pushed to Constant and could be shot by a garden from artillery

The Russians have advanced towards Konstantinovka and are already shooting from artillery Ukrainian positions near the city. This is indicated in the report of the Institute of Military Research (ISW). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...