Shell has announced that its profits hit $39.9bn in 2022, double last year's total and the highest in its 115-year history.

Simon Tucker, Global Head of Energy, Utilities & Resources at Infosys Consulting states this 'high' indicates the commodities super cycle we are in. He suggests that the high profits we are seeing must also be invested into low-carbon, domestic energy alternatives, like mini nuclear, to help us navigate the uncertain times ahead.

“Shell’s profits hit £32.2bn in 2022, its highest in 115 years – highlighting just how much we’re in a commodities super cycle, with supply limited and continued high demand. 

“While Shell will be paying higher taxes this year, profits must also be invested into low-carbon, domestic energy alternatives. Mini nuclear reactors and community renewables, for example, can be deployed quickly and at low cost. Investment can also be directed towards the clean-up of bad industry practices like flaring, which opens up significant waste reduction potential. 

“Every effort must be made to engage and audit the big players on clean energy investment. Improving this supply and reducing energy use will be key to navigating continued uncertainty in the months ahead.”