LONDON— Shell PLC became the latest oil giant to post a record annual profit last year, joining American peers in surging back from early pandemic losses on soaring energy prices.
Shell’s $41.6 billion full-year profit surpassed the London-based company’s previous record of $31.4 billion in 2008, measured on a net current-cost-of-supplies basis—a figure similar to the net income that U.S. oil companies report.
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