The Shell oil company reported today that it made a profit of 8.7 billion dollars in the first quarter, up 22.3% compared to the same period in 2022.

The British company's result is explained by the increase in energy prices worldwide.

In a statement sent to the London Stock Exchange, the company said that profit before tax between January and March was 14.4 billion dollars, up 33.2% compared to the same quarter in 2022.

The company's total revenues reached 89 billion dollars, 7% more than between January and March last year, the oil company added.

The company's expenses increased by 3.1% in the quarter, to 74.7 billion dollars.

At the end of the first quarter of 2023, Shell's debt stood at 44.2 billion dollars, a fall of 1.3% compared to the same period in 2022.

The company announced a share buyback program worth four billion dollars, which it expects to be completed by the end of the second quarter of 2023(NM)