Shell earns $40 billion in profits, more than double from previous record

Shell earns $40 billion in profits, more than double from previous record.

Shell earns $40 billion in profits, more than double from previous record. Photo by FotograFFF

Shareholders of Shell make huge returns after the company posts record $40 billion in profits amid a rise in global energy crises  

British multinational oil and gas company Shell announced on Thursday, February 2, that they have delivered a record $40 billion (€36 billion) profit in 2022.  

This announcement by the energy giant came at a time when global energy prices have been on the rise, following the invasion of Ukraine by Russia.  

After the start of the war, high levels of volatility were seen in the oil, gas, and power markets from around the world.  

Due to this, as per Reuters, companies such as Shell and its rivals benefitted from the situation because of their large global footprint and leading trade operators.  

The shareholders of the company also made huge returns after the record earnings more than doubled in 2022, in comparison to the previous year.  

“We intend to remain disciplined while delivering compelling shareholder returns,” said, Wael Sawan, chief executive of Shell.  

He added, “The company is in very good health. We have absolutely the right strategy and my core focus over the coming decade is to make sure that I can support the company as we operationalize strategy”. 

Shell also reportedly posted a profit of $9.8 billion (€8.92 billion) during the fourth quarter of 2022.  

As per the company, they made this profit after making strong recoveries from liquified natural gas.

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Written by

Imran Khan

A journalist, content professional, and former TEDx Speaker based in Tarragona (Spain), with a Master's in International Journalism (Cardiff, UK). Imran is an online reporter for The Euro Weekly News and covers international as well as Spanish national news. Got a news story you want to share? Then get in touch at