Shell profit tumbles on falling oil and gas prices

London (AFP) Feb 1, 2024

British energy giant Shell on Thursday said its net profit more than halved to $19.4 billion last year as oil and gas prices weakened. Profit after tax slumped 54 percent after reaching an all-time high of $42.3 billion in 2022, when energy producer Russia's invasion of Ukraine sent prices of fossil fuels soaring. "Full year 2023 income... reflected lower realised oil and gas prices, low