Russia and Ukraine: Shell’s profits nearly tripled due to high oil prices

photo released, Getty Images

Energy giant Shell has reported its highest quarterly profit ever, as oil and gas prices soared worldwide.

Shell made $ 9.13 billion (£ 7.3 billion) in the first three months of this year, almost three times the $ 3.2 billion it reported for the same period last year.

But the company said stopping investment in Russian oil and gas due to the conflict in Ukraine cost him $ 3.9 billion (£ 3.1 billion).

On Tuesday, rival BP also reported a sharp rise in profits, but the UK has so far ruled out a windfall tax.

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