UK-based oil giant Shell has reported record-breaking profits for 2022, sparking outrage.

It made a US$40 billion profit last year - or more than NZ$60 billion.

The company's record earnings were more than double from a year earlier, and mirror those reported by US rivals earlier this week.

What's Shell putting these massive profits down to?

On Friday morning Rachel Smalley spoke to UK correspondent Giles Gibson to find out.

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