Shell doubles its profits

Energy giant, Shell, has today announced its profits for the first quarter of 2026 have more than doubled since their last quarter, with the corporation raking in $6.9bn over the period.

This is the first set of profits reported by the company since the launch of the US-Israel war on Iran in February, which saw the global price of oil return to highs last seen after the Russian invasion of Ukraine.

Reacting to the announcement Danny Gross, climate campaigner at Friends of the Earth, said:

“Once again, fossil fuel giants are pocketing monstrous profits while drivers are being squeezed at the petrol pump and households are set to pay higher energy bills.

"Our fossil fuel-reliant energy system siphons money away from ordinary people to the rich and powerful.

"The answer is clear: strengthen the windfall tax on these indefensible profits and break our dependence on fossil fuels by powering our economy with homegrown renewables. This would lower energy bills, strengthen the UK’s energy security and protect us all from future energy price spikes.”