The company reported adjusted earnings of $39.9 bn 32.2 bn for 2022, the highest in its 115 year history.
After Russia invaded Ukraine, energy firms have been making record profits after oil and gas prices jumped.
As households struggle with inflation, there has been a lot of pressure on firms to pay windfall taxes.
The UK government introduced a windfall tax on firms' profits to help fund its scheme to lower gas and electricity bills last year.
After the end of the Covid lockdowns the prices of oil and gas had begun to rise, but went up sharply after Russia invaded Ukraine, resulting in bumper profits for energy companies.
The price of crude oil rose above $120 a barrel in March 2022, but has fallen back since. Oil prices are below the level seen before the invasion of Ukraine.
Gas prices are high but have been capped by the government for consumers.
Shell chief executive Wael Sawan said the firm's results show the strength of Shell's differentiated portfolio, as well as our capacity to deliver vital energy to customers in a volatile world. We believe that Shell is well positioned to be the trusted partner through the energy transition. George Dibb, head of the Centre for Economic Justice at IPPR, said: Bill-payers will be appalled to hear that Shell is still seeing sky-high profits. Instead of investing their profits in the transition to net zero, they are spending billions on enriching their own shareholders and executives, announcing a further 3.2 billion share buybacks this morning. The sheer scale of the transfer of wealth from bill-payers to shareholders is inexcusable and requires action from the government.