BUSINESS

Shell Sees Record High Quarterly Profits

Energy company Shell has reported its highest ever quarterly profits as oil and gas prices surge around the world.

Shell made $9.13 billion in the first three months of the year, nearly triple the $2.2 billion profit it announced for the same period last year.

But the firm said pulling out of Russian oil and gas due to the Ukraine conflict had cost it $3.9 billion.

On Tuesday, rival BP also reported a sharp rise in profit, but the UK has so far ruled out a windfall tax.

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Edited by Jesus Chan

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