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Shell posts record earnings again as energy prices soar
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CORRECTION TO SECOND QUARTER IN SECOND SENTENCE-- FILE - Consumers fill up at a Shell gas station July 13, 2022, in Miami Beach, Fla. Energy giant Shell has posted record profits for a second straight quarter as the company continues to benefit from the soaring price of oil and gas fueled by Russia’s war in Ukraine. London-based Shell said it’s second quarter adjusted earnings rose to $11.5 billion from $5.5 billion in the same three month period last year. - photo by AP Photo/Marta Lavandier, File
LONDON (AP) — Shell posted record profits Thursday for a second straight quarter as the energy giant benefited from soaring prices of oil and natural gas fueled by Russia's war in Ukraine. London-based Shell said it's second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5 billion from $5.5 billion in the same three-month period last year. The latest earnings smash its record set in the previous quarter, when the company recorded $9.1 billion in adjusted earnings.