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<blockquote data-quote="WPLG" data-source="post: 56992" data-attributes="member: 158">Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from <a href="https://apnews.com/article/russia-ukraine-putin-germany-european-union-553209d62edd0f925a3e2af00abada74" target="_blank">soaring prices of oil and natural gas</a> fueled by <a href="https://apnews.com/hub/russia-ukraine" target="_blank">Russia's war in Ukraine</a>.London-based Shell said it's second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5 billion from $5.5 billion in the same three-month period last year.The latest earnings smash its <a href="https://apnews.com/article/russia-ukraine-boris-johnson-business-prices-earnings-e143b0d3b1b52c28a1259fa52fbd342f" target="_blank">record set in the previous quarter</a>, when the company recorded $9.1 billion in adjusted earnings.Shell also said it would buy back another $6 billion in shares, underlining its healthy cash position.Russia's invasion of Ukraine has sent <a href="https://apnews.com/923304026448bda234d6890592f55463" target="_blank">oil and natural gas prices soaring</a> as nations spurned Russian energy and supply reductions wreaked havoc in markets. The <a href="https://apnews.com/article/russia-ukraine-covid-health-e517e89534a01f87e9be1730b10c6519" target="_blank">price increases are driving global inflation</a>, while boosting profits at energy companies.“It was a turbulent quarter for the world and the global economy,” CEO Ben van Beurden said in a statement. “The war in Ukraine continued, destroying lives and disrupting supplies of food and energy, and aggravating the lives of so many more through high energy prices and the cost-of-living crisis.”The British government in May announced plans for a <a href="https://apnews.com/article/boris-johnson-covid-health-e91e72c35c353bd45ca2fc66153f2677" target="_blank">temporary 25% tax on the windfall profits</a> of oil and gas companies to help fund payments for people facing soaring energy bills. But its future is unclear after <a href="https://apnews.com/article/boris-johnson-resignation-60da3c4b29a4e9c93c7db9f53034ad0e" target="_blank">Prime Minister Boris Johnson resigned</a> this month and a <a href="https://apnews.com/e20fec73f687257be84bd5ebadf1e23a" target="_blank">fight emerged over who will succeed him</a>.Natural gas prices in Europe jumped this week and were more than five times higher than a year ago as <a href="https://apnews.com/article/russia-ukraine-germany-d040fce8b07abc2ab6bb2cbf31a0df47" target="_blank">Russia further cut gas flows to Germany</a> and European Union governments moved to <a href="https://apnews.com/article/russia-europe-natural-gas-31a7bda2e8498859ef46557d7103eddb" target="_blank">reduce natural gas consumption</a> this winter.The average price for Brent crude oil, the global benchmark, hit $114 a barrel in the second quarter, up from $102.23 in the previous quarter.<a href="https://www.local10.com/business/2022/07/28/shell-posts-record-earnings-again-as-energy-prices-soar/" target="_blank">Continue reading...</a></blockquote>

[QUOTE="WPLG, post: 56992, member: 158"] Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from [URL='https://apnews.com/article/russia-ukraine-putin-germany-european-union-553209d62edd0f925a3e2af00abada74']soaring prices of oil and natural gas[/URL] fueled by [URL='https://apnews.com/hub/russia-ukraine']Russia's war in Ukraine[/URL]. London-based Shell said it's second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5 billion from $5.5 billion in the same three-month period last year. The latest earnings smash its [URL='https://apnews.com/article/russia-ukraine-boris-johnson-business-prices-earnings-e143b0d3b1b52c28a1259fa52fbd342f']record set in the previous quarter[/URL], when the company recorded $9.1 billion in adjusted earnings. Shell also said it would buy back another $6 billion in shares, underlining its healthy cash position. Russia's invasion of Ukraine has sent [URL='https://apnews.com/923304026448bda234d6890592f55463']oil and natural gas prices soaring[/URL] as nations spurned Russian energy and supply reductions wreaked havoc in markets. The [URL='https://apnews.com/article/russia-ukraine-covid-health-e517e89534a01f87e9be1730b10c6519']price increases are driving global inflation[/URL], while boosting profits at energy companies. “It was a turbulent quarter for the world and the global economy,” CEO Ben van Beurden said in a statement. “The war in Ukraine continued, destroying lives and disrupting supplies of food and energy, and aggravating the lives of so many more through high energy prices and the cost-of-living crisis.” The British government in May announced plans for a [URL='https://apnews.com/article/boris-johnson-covid-health-e91e72c35c353bd45ca2fc66153f2677']temporary 25% tax on the windfall profits[/URL] of oil and gas companies to help fund payments for people facing soaring energy bills. But its future is unclear after [URL='https://apnews.com/article/boris-johnson-resignation-60da3c4b29a4e9c93c7db9f53034ad0e']Prime Minister Boris Johnson resigned[/URL] this month and a [URL='https://apnews.com/e20fec73f687257be84bd5ebadf1e23a']fight emerged over who will succeed him[/URL]. Natural gas prices in Europe jumped this week and were more than five times higher than a year ago as [URL='https://apnews.com/article/russia-ukraine-germany-d040fce8b07abc2ab6bb2cbf31a0df47']Russia further cut gas flows to Germany[/URL] and European Union governments moved to [URL='https://apnews.com/article/russia-europe-natural-gas-31a7bda2e8498859ef46557d7103eddb']reduce natural gas consumption[/URL] this winter. The average price for Brent crude oil, the global benchmark, hit $114 a barrel in the second quarter, up from $102.23 in the previous quarter. [url="https://www.local10.com/business/2022/07/28/shell-posts-record-earnings-again-as-energy-prices-soar/"]Continue reading...[/url] [/QUOTE]

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