Shell worker at petrol stationImage source, Getty Images

The company reported record profits from high oil and gas prices and is giving its workers a bonus.

Top executives will not be included in the pay boost for most of the staff.

The award was not a response to the rising cost of living, according to Shell.

Increased taxes are needed to help families with rising bills.

It's because of the predictions that household energy bills will go up more than 3,600 a year this winter. The average bill was more than $2,500 a year.

Higher gas and oil prices boosted Shell's second quarter profits by 9% to £9 billion.

For the first time in 14 years, it has reported a profit for the third quarter.

The war in Ukraine has caused the price of oil and gas to go up.

Fears are growing that Russia may switch off the taps altogether after reducing supplies to Europe.

The potential of gas supply problems has led to the wholesale price soaring, which has led to energy firms passing those costs onto customers, pushing up household energy bills by an unprecedented amount.

The price of petrol and diesel has reached record highs at the pumps, with inflation at a 40-year high, due to the high oil price.

Shell said in a statement its staff would get 8% of their salaries as a bonus "in recognition of the contribution our people have made to Shell's strong operational performance against a recently challenging backdrop".

The company said that the award is not a response to inflation or cost of living challenges.

About 5,000 of Shell's employees in Britain will get the bonus, but 1,200 of them will not.

After posting its financial results last month, Shell said it would give billions of dollars to its shareholders.

The UN Secretary General said it was morally wrong for oil and gas companies to be making money from the war.

The only common home is being destroyed by the greed of the poor and vulnerable.

The UK government introduced a package of measures to help people with energy bills, including a £400 discount, and also announced in May that oil and gas firms would pay an extra 25% on profits

Most oil and gas companies have a small part in their operations in the UK.

When the legislation came into force, Shell and BP won't have to pay the tax on most of their recent profits.

Critics of windfall taxes argue that they can hit pension funds invested in energy companies.

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  • Russia-Ukraine war
  • Shell
  • Cost of living
  • UK economy
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  • Oil & Gas UK