oil prices

Global energy giant Shell said on Thursday that its annual profits doubled to a record high last year as oil and natural gas prices soared after Russia's invasion of Ukraine.

Oil prices rose on Monday, December 5, 2022, as the first strong measures to limit Russia's oil profits over the war in Ukraine took effect, bringing with them uncertainty about how much crude could be lost to the global economy through the new sanctions or Russian retaliation.

BP’s earnings more than doubled in the third quarter as the London-based energy giant benefited from high oil and natural gas prices following Russia’s invasion of Ukraine.

Environment Minister Steven Guilbeault isn't warming to the idea of combating climate change by imposing a windfall tax on the massive profits being posted by some Canadian oil and gas producers.