Shell quarterly profit of $9.8 billion beats forecasts
LONDON–Shell PLC became the latest oil giant to post record annual profit last year, joining U.S. peers in surging back from early pandemic losses on soaring energy prices.
The results bring to more than $132 billion the combined profit last year of the three big majors including historic results from Chevron Corp. and Exxon Mobil Corp., reported during the past week. Their hauls, driven by strong global energy demand, erase billions of dollars of losses incurred during Covid lockdowns as global travel and economic activity sputtered.
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