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Manchester Evening News
Manchester Evening News
National
Kieran Isgin

Shell reports more than double profits as shareholders get huge payout

Shell has reported more than double increased profits between July and September when compared to the same time last year.

The oil giant said its adjusted earnings more than doubled to 9.5 billion dollars (£8.2 billion). Despite this, profits are down compared with the company's second quarter which saw it make 11.5 billion dollars (£9.9 billion).

It comes after the price of oil slowly began to fall following months of record-highs which has been mainly attributed to the Russian invasion of Ukraine. Previously, Shell promised that 2022 would be its most profitable year ever which will likely be the case if there is no major collapse in oil and gas prices over the next two months.

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