Shell’s profits hit record $11.5bn, as UK households face winter energy bill pain – business live

Energy giant reports profits of $11.5bn in the second quarter, smashing the previous quarter’s record, lifted by refining profits and gas trading

Centrica’s British Gas division has added over 200,000 customers so far this year, as the energy crisis forced some rivals went out of business.

Residential energy customers rose to 7.464m at the end of June, from 7.26m a year ago.

The increase in adjusted operating profit was primarily driven by the Upstream businesses, reflecting strong production and generation volumes and the impact of higher commodity prices.

Additionally, Energy Marketing & Trading managed the more volatile commodity price environment well and delivered higher adjusted operating profit

We’ve made significant progress de-risking the Group and building a stronger business for the benefit of all stakeholders.

This strength has allowed us to lead the industry in measures to protect and support customers through the most challenging energy crisis in living memory and the benefit of our balanced portfolio can be seen in our first half performance. We expect this to continue into the second half, underpinning continued investment in customer service and elsewhere in our portfolio.

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