Skip to Content

Shell posts record earnings again as energy prices soar


LONDON (AP) — Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia’s war in Ukraine. London-based Shell said it’s second-quarter adjusted earnings rose to $11.5 billion from $5.5 billion in the same three-month period last year. The latest earnings smash its record of $9.1 billion set in the previous quarter. Shell also said it would buy back another $6 billion in shares. Russia’s invasion of Ukraine has sent oil and natural gas prices soaring as nations spurned Russian energy and supply reductions wreaked havoc in markets. The price increases are driving global inflation, while boosting profits at energy companies.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press


KTVZ NewsChannel 21 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content