TotalEnergies, Shell Post Bumper Profits, LNG Business Diverges

TotalEnergies, Shell Post Bumper Profits, LNG Business Diverges
A tower flaring gas at an LNG processing plant operated by Shell and others in Bonny Island, in Rivers state, Nigeria on June 21, 2017. Paul Carsten/Reuters
Reuters
Updated:

LONDON/PARIS—Europe’s two largest energy companies Shell and TotalEnergies reported profits of more than $9 billion in the third quarter, though Shell’s liquefied natural gas (LNG) division struggled to capture the benefits of high fuel prices.

The strong earnings were likely to intensify calls in Britain and the European Union for further windfall taxes on energy companies to help households cope with gas and power bills.