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Shell says its adjusted profit soared to $6.92 billion in the first three months of the year.
Shell's adjusted profit for Q1 reached $6.92 billion, more than doubling the previous quarter.
KEY POINTS
- The Brent crude oil price rose 37 percent since the start of the U.S.-Israel war with Iran.
- BP and TotalEnergies also more than doubled profits in Q1, announcing increased dividends and buybacks.
- Calls for a new windfall tax on oil profits have re-emerged due to oil companies' large gains.
- Exxon and Chevron reported steep profit drops, citing temporary accounting factors affecting results.
COMPANIES
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