Shell’s 2022 Third Quarter Profits

In this interview given to Ben Thompson on the BBC World Business Report, Dr Carole Nakhle, CEO of Crystol Energy, comments on Shell’s third quarter profits in 2022.

Dr Carole Nakhle discusses Shell's 2022 third quarter profits with Ben Thompson from BBC World Business Report

Key takeaways:

  1. Oil prices have increased significantly, and spiked following the Russian invasion of Ukraine. These have translated into high profits for energy companies like Shell. Meanwhile consumers are facing high energy bills. Calls for windfall taxes have intensified accordingly.
  2. There is no universally accepted definition for a windfall tax. The European Union recently defined excess profits as those above 20% of the profitability achieved in the last four years.
  3. Typically, oil companies usually pay higher marginal tax rates than other industries.
  4. A well-designed windfall tax should not distort investment; on the contrary, it can encourage investment in certain activities.

Related Comments

Oil prices outlook“, Dr Carole Nakhle, Oct 2022

Is OPEC+’s decision balancing the market?“, Dr Carole Nakhle, Oct 2022

Record profits for oil-producers“, Dr Carole Nakhle, Aug 2022

Share this:

Recent Posts

SPE Tech Talks

Crystol Energy is proud to announce its collaboration with the Society of Petroleum Engineers (SPE). The energy transition and the transformation of our global and

Read More »