Big year for Big Oil as Shell posts record profits while world struggles with rising fuel prices
. The performance has drawn scrutiny from governments around the world, whose populations are struggling with a cost-of-living crisis caused in large part by high oil and gas prices.
The companies have been criticized both for making too much money, and for giving so much of it back to shareholders instead of investing more in new energy supplies.balance sheet in shape. While the company’s net debt rose slightly in the fourth quarter, its net gearing — a measure of the debt relative to its value — dropped to 18.9%, the lowest since 2015.
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