Shell announces £32.2bn annual profit

*Shell personnel on an exploration rig

London — Shell has announced annual profits of £32.2bn ($39.9) doubling from a year earlier and far exceeding the previous record of £25bn ($31bn) in 2008.

Shell chief executive Wael Sawan said: “Our results in Q4 and across the full year demonstrate the strength of Shell’s differentiated portfolio, as well as our capacity to deliver vital energy to our customers in a volatile world.

“We believe that Shell is well positioned to be the trusted partner through the energy transition.”

It follows a year when consumers grappled with spiraling energy costs which has fed into persistent double-digit inflation.

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