£7bn in 3 months

Oil giants BP and Shell to report huge profits as households shiver

- GRAHAM HISCOTT

SHELL and BP are set to spark fury by raking in more than £7billion profit between them in just three months, while households are reeling from a cost of living crisis.

The haul will reignite calls for a windfall tax on firms making a packet out of the surge in wholesale energy prices.

It came as research from the charity Age UK found three-quarters of older people in Britain - 9.4million - are worried about living costs, with more than half set to heat their homeless.

One 69-year-old woman said: “I cry a lot these days. I can't imagine how I'll pay the bills."

Someone who won't be facing the same anguish is Shell's 63-year-old boss Ben van Beurden, who netted £5.2million in pay and perks in 2020, and nearly £70million since he took charge in 2014.

Shell is the first to announce quarterly results next Thursday.