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Shell makes record profit
31 October 2008
Shell has posted record-breaking profits of £13.12bn - the largest annual profit ever recorded by a UK-listed company.
The oil giant’s profits were up one third compared with last year, despite global "rough waters".
It has led to fuel price campaigners calling for an immediate cut in forecourt prices.
Shell has pointed out that most of its profit comes from finding and extracting oil.
"A very small amount is made on British petrol station forecourts, which attract some of highest taxes in Europe," said a Shell spokesperson. “Success in exploration and gaining access to new resources continues."
The AA is calling on Shell to “put more money into research and development to get away from an oil-based economy”. It believes the company should help develop alternative fuels like hydrogen fuel cells.
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