Shell’s earnings more than doubled in the third quarter, fueling the debate over taxes on energy producers’ windfall profits as they have benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.
Adjusted earnings, which exclude one-time items and fluctuations in the value of inventories, jumped to $9.45 billion from $4.13 billion in the same period last year, Shell said Thursday. The London-based energy giant also announced a $4 billion share buyback and plans to increase its fourth-quarter dividend by 15%.
