LONDON—Shell PLC said it took a $3.9 billion posttax charge related to its decision to exit Russia, only slightly denting an otherwise strong quarter bolstered by soaring commodity prices.
The charge was expected and came alongside robust oil and gas trading profit during a period of extreme volatility. Shell’s first-quarter profit on a net current-cost-of-supplies basis—a figure similar to the net income that U.S. oil companies report—was $5 billion, compared with $4.3 billion a year earlier hen performance rebounded from low pandemic energy demands.
