Shell posts highest profits in company history as oil, gas prices remain high following Ukraine invasion

Shell reported a record-breaking year of profit, posting the highest annual earnings in the company’s 115-year history. 

"This was a truly stunning set of numbers from Shell, way ahead of what forecasts had penciled in and the highest profit in its entire history," said AJ Bell investment director Russ Mould.

Europe's largest energy company reported 2022 adjusted earnings of $39.87 billion, a 109% increase from the prior year. The number broke the previous record of $31 billion set in 2008.

Full year revenue was $381.31 billion, up from $261.5 million prior year.