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The Independent UK
The Independent UK
National
Ben Chapman

Oil firms collect £22bn in profits as fuel and energy bills soar

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Oil, gas and electricity companies have raked in billions of pounds in extra profits this year as families struggle with massive rises in fuel prices and gas bills.

Shell, BP, Exxon Mobil and Chevron have all seen profits rise, boosted by high oil prices in the wake of Russia's invasion of Ukraine. Between them, the four companies reported $27.3bn (£22bn) in profits during the first three months of this year.

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