Saudi oil giant Aramco's profits rocket by 80% fuelled by Ukraine invasion

Earnings by global energy companies such as BP and Shell have risen to their highest in at least a decade on the back of rising commodity costs, sparking calls in the UK for a windfall tax to help households cope with the cost of living crisis.

President and chief executive Amin H Nasser said:"Against the backdrop of increased volatility in global markets, we remain focused on helping meet the world's demand for energy that is reliable, affordable and increasingly sustainable."

The oil group said it maintained its $18.8bn cash dividend for the fourth quarter of last year - rounding off one of the biggest full-year cash dividends in the world. It comes amid growing demands in Britain for a one-off levy on energy firms to assist struggling families.

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