British oil company Shell's $39.9 billion profit last year... "Record high"

[Asia Economy Reporter Naju-seok] The British oil company Shell has recorded its highest-ever profit. This reflects the rise in oil prices since Russia's invasion of Ukraine.

Shell announced that it posted a profit of $39.9 billion (48.92 trillion won) for the entire last year. This far surpasses the previous record high of $28.4 billion set in 2008. It also more than doubles the 2021 profit of $19.3 billion.

Experts had expected Shell to record a profit of $38.3 billion.

Shell also announced a large-scale dividend plan along with a $4 billion share buyback.

[Image source=Reuters Yonhap News]

In addition to Shell, major global oil companies such as ExxonMobil and Chevron also posted huge profits. Last year, ExxonMobil disclosed a profit of $56 billion, and Chevron reported $36.5 billion. For this reason, there are estimates that oil companies recorded a combined profit of $200 billion last year.

However, controversy over windfall taxes continues in relation to the record profits posted by oil companies.