Shell reports record profit of $39.9bn

Oil and state elephantine Shell has reported grounds yearly profits aft vigor prices surged past twelvemonth pursuing Russia's penetration of Ukraine.

The institution reported adjusted net of $39.9bn (£32.2bn) for 2022.

Fossil substance firms person been reaping grounds profits aft a surge successful vigor prices pursuing Russia's penetration of Ukraine.

The profits person heaped unit connected firms to wage windfall taxes arsenic households conflict with inflation.

Last year, the UK authorities introduced a windfall taxation - called the Energy Profits Levy - connected the profits of firms to assistance money its strategy to little state and energy bills.