02
Feb
Oil and gas giant Shell has reported record annual profits after energy prices surged last year following Russia’s invasion of Ukraine. Profits hit $39.9bn (£32.2bn) in 2022, double last year’s total and the highest in its 115-year history. Energy firms have been making record profits after oil and gas prices jumped following the invasion of Ukraine. It has heaped pressure on firms to pay windfall taxes as households struggle with rising bills. Last year, the UK government introduced a windfall tax – called the Energy Profits Levy – on the profits of firms to help fund its scheme to lower…