Shell reports lower profits as energy prices cool

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19 minutes ago

Oil and gas giant Shell has reported lower annual profits due to energy prices falling last year.

Profits were $28.2bn (£22.3bn) in 2023, down from $39.9bn in 2022 which was the company's highest earnings in its 115-year history.

Energy firms made record earnings when oil and gas prices soared in the aftermath of Russia's invasion of Ukraine amid fears of supply problems.

Households bills have eased since 2022, but remain at a high level.

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• Shell reports highest profits in 115 years

  Published

  2 February 2023