The Latest Breaking News on Shell Reports 2023 Profits of $28.25 Billion Amid Market Shifts

Friends of the Earth says BP’s profits ‘will be yet more salt in the wound for millions of people who’ve struggled to afford to stay warm and well this winter’

Chief executive Bernard Looney said the company had its lowest production costs in 16 years

BP has reported an annual profit of £23billion which is the highest in its history with a whopping £23billion having been made in the last three months of 2022 alone

The revelation came in the week it was announced Shell more than doubled its annual profit to £32billion – its biggest result ever - and sparked calls for an increase in taxes on energy giants

Energy giant Shell made one of the biggest ever profits by a UK company last year as soaring oil and gas prices, after the Russian invasion of Ukraine, doubled its earnings to a record $39.9 billion dollars (£32.2 billion). The vast scale of the profit at the multinational, which supplies…

Record View says the Tories must introduce a proper windfall tax to heat our homes and subsidise energy costs.

Energy giants are reaping the benefits of high energy prices. Shell followed ExxonMobil in doubling its annual profit for 2022 to nearly $40 billion, the highest in its 115-year history. It's sparked outrage among climate activists and those calling for higher taxes as households struggle with high energy bills. Also…

A look at those leading the oil and gas firm as it enjoys the largest profits in its 115-year-history

Even on the company’s broader metric, the greener stuff came out at only one-third of total expenditure

The oil major has posted the biggest profits in its history, nearly $40bn for 2022, but will only pay $134m in taxes

Energy companies have been reporting blockbuster profits since last year, after Russia's invasion of Ukraine sent oil prices sharply higher.