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
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.