Shell profits nearly triple as oil prices surge amid Russia-Ukraine war
Energy giant Shell has reported its highest ever quarterly profits as oil and gas prices surge around the world. Shell made $9.13bn (£7.3bn) in the first three months of the year, nearly triple its $3.2bn 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 $3.9bn (£3.1bn).
On Tuesday, rival BP also reported a sharp rise in profit, but the UK has so far ruled out a windfall tax.