Shell announces record annual profits of £32.2bn

Shell delivered record profits of £32.2bn ($39.9bn) in the last year, the energy giant announced on Thursday, 2 February.

The British company’s enormous earnings came in the year that energy prices surged following Russia’s invasion of Ukraine which allowed it to hand shareholders unprecedented returns.

The latest profit haul is expected to increase pressure on Rishi Sunak and chancellor Jeremy Hunt to increase taxes on energy producers as households face skyrocketing bills.

Shell said it has paid $1.9bn (£1.5bn) in windfall tax charges to the UK and EU.

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