Fourthquarter profit of 10 bln beats estimates
Shell to repurchase 4 bln in shares
Shares up 2.5 by 1002 GMT

LONDON, Feb 2 Reuters Shell delivered a record 40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia39;s invasion of Ukraine allowed it to hand shareholders unprecedented returns.

The British company39;s record earnings, which more than doubled from a year earlier, mirror those reported by U.S. rivals earlier this week and are certain to intensify pressure on governments to further raise taxes on the sector.

We intend to remain disciplined while delivering compelling shareholder returns, Chief Executive Wael Sawan said in a statement on the first set of earnings since he took the helm on Jan. 1.

Shell also posted record fourthquarter profit of 9.8 billion on the back of a strong recovery in earnings from liquefied natural gas LNG trading, beating analyst forecasts for an 8 billion profit.

Annual profit reached 39.9 billion, more than doubling from a year earlier and far exceeding the previous record of 31 billion in 2008.

Shell shares were up 2.5 by 1002 GMT, compared with a small decline in the broader European energy index.

The gains were driven by higher oil and gas prices, robust refining margins and a strong performance from Shell39;s trading business.

Earnings from its LNG division reached 6 billion, a record high, boosted by strong overall trading earnings on the…