Oil Giant Shell Reports Soaring First-Quarter Profits, Raises Dividend
Shell's results follow soaring profits seen across the oil and gas industry, even as many energy majors incur costly write-downs from exiting Russia.
U.K. rival BP on Tuesday announced plans to boost share buybacks after first-quarter net profit jumped to its highest level in more than a decade. Shell reported a sharp upswing in full-year profit in 2021 on rebounding oil and gas prices, with CEO Ben van Beurden hailing it as a"momentous year" for the company.on Thursday reported its highest quarterly profit since 2008 on soaring commodity prices, fueling calls for a one-off windfall tax on oil and gas companies to help U.K. households with spiraling energy bills.
Shell posted adjusted earnings of $9.1 billion for the three months through to the end of March, in line with expectations of analysts polled by Refinitiv. That compared with
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