Fossil fuel giant Shell reveals highest profits in its history
Unions call on government to ‘expand windfall tax on energy producers’ as public face 40% hike in bills from April
THE government must “get real” on profiteering and increase windfall taxes on oil and gas companies, campaigners and unions urged today as Shell revealed its highest profits in its history.
The oil giant said that core profits rocketed to $84.3 billion (£68.1bn) in 2022 in what is one of the highest gains ever recorded by a British company.
The public face a 40 per cent hike in energy bills from April on top of soaring bills and the cost-of-living crisis.
Following pressure, the government launched a windfall tax, called the energy profits levy, on bumper profits made by producers last year.
Shell said it was due to pay $134 million (£109m) through the levy for 2022, representing just a fraction of its mammoth profit.
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