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posted by Jason Kottke  ·  gift link

“British energy major BP on Tuesday reported that first-quarter profits more than doubled from a year ago, following a surge in oil and gas prices driven by the Middle East conflict.” Oh, surprise surprise.

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Jason KottkeMOD Edited

Shell is also reporting a huge rise in profits.

The British energy giant Shell reported robust profits following the surge in oil prices prompted by the U.S.-Israeli war with Iran.

The company, based in London, said Thursday that its adjusted profit soared 24 percent, to $6.92 billion, in the first three months of the year from the same time last year, higher than analysts expected. Shell's first-quarter profit was more than twice what the company earned in the previous quarter, a time of seasonally lower activity.

The strong financial turnout came amid an "unprecedented disruption in global energy markets," the company's chief executive, Wael Sawan, said in a statement.

I mean, this is just outright war profiteering.

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