Shell, BP make record profits as gas prices soar

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Oil giants reporting record profits as energy prices soar worldwide

Profits for Exxon Mobil, Shell and more rose by billions during the first three months of this year, despite significant costs of exiting operations and/or investments in Russia amid the war in Ukraine.

Here’s a look at the biggest oil companies’ profits in the first quarter of 2022:

  • Shell: $9.1 billion, nearly tripling $3.2 billion in profits from the first quarter of 2020
  • BP: $6.2 billion, more than double its profits from the first quarter of 2020
  • Exxon: $5.5 billion, more than double its profits from the same period in 2020
  • Chevron: $6.3 billion, more than four times its first quarter 2020 profits



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