2 Feb 2023

Shell makes £32bn profit – biggest in oil giant’s history

Chief Correspondent

£32 billion – the profits made by Shell last year were the highest in their 115-year history, largely due to the spike in energy prices following Russia’s invasion of Ukraine.

But the company, which is based in the UK, is paying windfall tax of just £109 million pounds here because it makes most of its money overseas.

Environmentalists accused the company of “profiteering from climate destruction”.

Shell says it aims to be a “trusted partner” in the transition to low carbon fuel.