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Shell profit doubles to $9.5 billion, prompting windfall tax calls

The strong earnings were likely to intensify calls in Britain and the European Union to impose further windfall taxes on energy companies as governments struggle with soaring gas and power bills.

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Photo: Bloomberg

Reuters London
Shell on Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs.
 
The strong earnings were likely to intensify calls in Britain and the European Union to impose further windfall taxes on energy companies as governments struggle with soaring gas and power bills.
 
Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months after completing $6 billion in the previous quarter.
 
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First Published: Oct 27 2022 | 11:57 PM IST

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