Shell profits jump despite lower energy prices | Business

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British energy giant Shell on Thursday posted soaring first-quarter profit, as falling costs and a better performance at its chemicals division offset lower gas and oil prices. | News24_Business

Profit after tax leapt 22 percent to $8.7 billion from a year earlier, when it had faced a large $3.9 billion charge over its exit from Russia after Moscow invaded Ukraine.

"Shell delivered strong results and robust operational performance, against a backdrop of ongoing volatility, while continuing to deliver vital supplies of secure energy," Sawan said. BP recovered from a record loss of $20.4 billion a year earlier after taking a far larger charge on its own exit from Russia.

 

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