Shell has recorded a profit of £7.6 bn ($9.6bn) in the first quarter of 2023 amidst the growing calls for a tougher windfall tax on “henious” oil giants. The company said it benefitted from “improved operational performance, lower underlying opex and better results in Chemicals & Products driven by trading & optimisation offsetting the impact of lower oil and gas prices, and higher tax compared with Q4 2022”.
Shell’s chief executive officer, Wael Sawan, said: “In Q1 Shell delivered strong results and robust operational performance, against a backdrop of ongoing volatility, while continuing to provide vital supplies of secure energy.”
Energy firm Shell makes about 5 percent of its revenue in the UK.
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