British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s full-scale invasion of Ukraine.
The company reported adjusted earnings of $39.9 billion for the full-year 2022.
This comfortably surpasses the $28.4 billion in 2008 which Shell said was the firm’s previous annual record and is more than double the firm’s full-year 2021 profit of $19.29 billion, reports CNBC.
For the final quarter of 2022, Shell reported adjusted earnings of $9.8 billion.
Shell announced a $4 billion share buyback programme, which is expected to be completed by its first-quarter 2023 results — due out by early May — and a 15 per cent dividend per share increase for the fourth quarter.
Bd-pratidin English/Golam Rosul
