Shell has recorded its second highest quarterly earnings on record as the energy market surge caused by the Middle East crisis helped to double its net profit to almost $10bn in the three months to June.<\/p>\n
Europe\u2019s biggest oil and gas company reported a quarterly profit of $9.8bn (\u00a37.4bn), more than double the figure for the second quarter last year and the highest since its record high earnings in the months after Russia\u2019s invasion of Ukraine.<\/p>\n
The company behind plans to develop the Jackdaw gasfield in the North Sea revealed its earnings before a planned meeting between Britain\u2019s new prime minister, Andy Burnham, and Shell\u2019s chief executive, Wael Sawan, who is expected to urge the government to develop North Sea projects.<\/p>\n
Sawan told CNBC: \u201cThe prime minister\u2019s office has reached out, and we\u2019re hoping to schedule a discussion soon \u2026 The biggest thing that can be done at the moment is to continue to support the development of the North Sea, to continue to invest in renewables, to continue to provide targeted support to those who need it in these difficult times.<\/p>\n
\u201cThese are difficult times, undoubtedly, and I think the government, from everything we pick up publicly, is trying to do what it can to be able to support. And [the] UK is our headquarters, is our home, and we will offer any support that we can to the government as they try to navigate these difficult waters.\u201d<\/p>\n
Robert Palmer, the deputy director at the campaign group Uplift, which opposes North Sea development, accused Shell of \u201cmaniacal behaviour\u201d for \u201cputting its profits ahead of the health of our planet\u201d.<\/p>\n
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