Shell today revealed profit of almost £8 billion for the first quarter of the year, putting the spotlight back on the sheer scale of earnings at energy companies during a cost-of-living crisis driven by high fuel prices.
It meant the Anglo-Dutch giant made money at a dizzying pace – £58,000 per minute or nearly £1,000 a second – even with oil prices off the peaks touched after Russia’s invasion of Ukraine, at an average of around $81 in the period, down from over $100 a year earlier.
