26 August, Monday, 2024
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HomeSourcesmetro.co.ukShell has made £8,000,000,000 in profit while you're facing huge energy bills

Shell has made £8,000,000,000 in profit while you’re facing huge energy bills

As the cost of living crisis impacts struggling families across the nation, Shell has just reported profits of £8 billion.

The energy giant made enormous gains selling gas and oil last quarter, taking its total for the year to £25 billion.

Labour said the huge profits were an opportunity for the new prime minister to impose another windfall tax.

Ed Miliband, the shadow climate change secretary, said: ‘As millions of families struggle with their energy bills, the fact that Shell recorded the second highest quarterly profits in the company’s history is further proof that we need a proper windfall tax to make the energy companies pay their fair share.’

Barring a major collapse in oil and gas prices, it is set to be Shell’s most profitable year to date.

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