LONDON, Oct 29 — Oil and gas giants Shell and TotalEnergies today reported soaring quarterly net profits as the Middle East war pushed up hydrocarbon prices — and the cost of living around the world.
Britain’s Shell said profit after tax more than doubled year-on-year to US$12.1 billion (RM49.1 billion) in the third quarter.
France’s TotalEnergies net profit hit a new record of US$8.3 billion in the July-September period.
Rising fossil fuel prices also saw Spanish oil group Repsol quadruple its net profit over the first nine months of the year, to €5 billion (RM22.7 billion).
