Global energy giant Shell has said that its annual profits doubled to a record high last year as oil and natural gas prices soared after Russia's invasion of Ukraine.
Shell has made bumper profits despite increasing pressure to cut climate-changing carbon emissions
London-based Shell Plc posted adjusted earnings of $US39.9 billion for 2022 in its financial results for the final three months of the year. US-based Exxon Mobil also posted record annual profits days earlier, while UK rival BP and France's TotalEnergies posted huge quarterly profits last year. His appointment was seen as a part of Shell's strategy to take what it calls a leading role in the energy transition despite criticism that it's been slow to cut emissions.
"For the millions of people globally who are struggling with the high cost of energy or the impacts of the climate crisis, Shell reaping in record profits will rightly feel incredibly unfair," said Alice Harrison of Global Witness, a nonprofit that advocates for environmental sustainability and corporate responsibility.
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