Shell reported adjusted earnings $39.9 billion for 2022, the highest in its 115-year history.
In the latest example of how oil and gas profits were lifted by the higher commodity prices that followed Russia’s invasion of Ukraine last February, Shell’s annual earnings were more than double its adjusted income of $19.3 billion for 2021.
Unlike other big oil companies to have reported so far, Shell continued to increase earnings into the fourth quarter, despite a subsiding of global oil and gas prices in recent months.
