SHELL PLC – REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024
Shell plc – Report on Payments to Governments for the year 2024
Basis for preparation – Report on Payments to Governments for the year 2024
This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings (hereinafter referred to as “Shell”) for the year 2024 as required under the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015). These UK Regulations enact domestic rules in line with Directive 2013/34/EU (the EU Accounting Directive (2013)) and apply to large UK incorporated companies like Shell that are involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials. This Report is also filed with the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism) intended to satisfy the requirements of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority in the United Kingdom. This Report is also published pursuant to article 5:25e of the Dutch FMSA (Wft) and is furnished with the US Securities and Exchange Commission (“SEC”) according to Section 13(q) under the US Securities Exchange Act of 1934.
This Report is available for download from www.shell.com/payments.
Legislation
This Report is prepared in accordance with The Reports on Payments to Governments Regulations 2014 as enacted in the UK in December 2014 and as amended in December 2015.
Reporting entities
This Report includes payments to governments made by Shell plc and its subsidiary undertakings (Shell). Payments made by entities where Shell has joint control are excluded from this Report.
Activities
Payments made by Shell to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals, oil and natural gas deposits or other materials (extractive activities) are disclosed in this Report. It excludes payments related to refining, natural gas liquefaction or gas-to-liquids activities. For a fully integrated project, which does not have an interim contractual cut-off point where a value can be attached or ascribed separately to the extractive activities and to other processing activities, payments to governments are not artificially split but are disclosed in full.
Government
Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government, including a national oil company.
Project
Payments are reported at project level, except those payments that are not attributable to a specific project which are reported at entity level. Project is defined as operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project.
“Substantially interconnected” means forming a set of operationally and geographically integrated contracts, licences, leases or concessions or related agreements with substantially similar terms that are signed with a government giving rise to payment liabilities. Such agreements can be governed by a single contract, joint venture, production sharing agreement or other overarching legal agreement. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.
Payment
The information is reported under the following payment types:
Production entitlements
These are the host government’s share of production in the reporting period derived from projects operated by Shell. This includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its sovereign jurisdiction (home country). Production entitlements arising from activities or interests outside of its home country are excluded.
In certain contractual arrangements, typically a production sharing contract, a government through its participation interest may contribute funding of capital and operating expenditure to projects, from which it derives production entitlement to cover such funding (cost recovery). Such cost recovery production entitlement is included.
In situations where a government settles Shell’s income tax obligation on behalf of Shell by utilising its share of production entitlements (typically under a tax-paid concession), such amount will be deducted from the reported production entitlement.
Taxes
These are taxes paid by Shell on its income, profits or production (which include resource severance tax and petroleum resource rent tax), including those settled by a government on behalf of Shell under a tax-paid concession. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, property and environmental taxes are excluded.
Royalties
These are payments for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken.
Dividends
These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended December 31, 2024, there were no reportable dividend payments to a government.
Bonuses
These are payments for bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced, or production has reached a milestone.
Licence fees, rental fees, entry fees and other considerations for licences and/or concessions
These are fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.
Infrastructure improvements
These are payments which relate to the construction of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are a social investment in nature, for example building of a school or hospital, are excluded.
Other
Operatorship
When Shell makes a payment directly to a government arising from a project, regardless of whether Shell is the operator, the full amount paid is disclosed even where Shell as the operator is proportionally reimbursed by its non-operating venture partners through a partner billing process (cash-call).
When a national oil company is the operator of a project to whom Shell makes a reportable payment, which is distinguishable in the cash-call, it is included in this Report.
Cash and in-kind payments
Payments are reported on a cash basis. In-kind payments are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment, which can be at cost or market value, or such value as stated in the contract. In-kind payments are reported in both volumes and the equivalent cash value.
Materiality level
For each payment type, total payments below £86,000 to a government are excluded from this Report.
Exchange rate
Payments made in currencies other than US dollars are translated for this Report based on the foreign exchange rate at the relevant quarterly average rate.
Report on Payments to Governments [1]
| Summary report (in USD) | |||||||
| Countries | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Europe | | | | | | | |
| Germany | – | 243,935,441 | – | – | – | – | 243,935,441 |
| Italy | – | 4,128,063 | 74,213,782 | – | 80,220,786 | – | 158,562,631 |
| Norway | 2,083,221,642 | 1,300,962,023 | – | – | 122,391 | – | 3,384,306,056 |
| United Kingdom | – | -16,649,747 | – | – | 11,483,529 | – | -5,166,218 |
| Asia | | | | | | | |
| Brunei | 3,983,642 | 44,229,620 | 8,660,091 | – | – | – | 56,873,353 |
| China | – | 10,343,616 | – | – | – | – | 10,343,616 |
| India | – | -17,715,638 | – | – | – | – | -17,715,638 |
| Kazakhstan | – | 242,741,780 | – | – | – | – | 242,741,780 |
| Malaysia | 2,317,002,807 | 305,924,901 | 500,008,822 | – | – | – | 3,122,936,530 |
| Middle East | | | | | | | |
| Oman | 633,711,368 | 3,954,062,451 | – | – | 900,000 | – | 4,588,673,819 |
| Qatar | 1,801,453,896 | 1,507,244,066 | – | – | 30,538,723 | – | 3,339,236,685 |
| Oceania | | | | | | | |
| Australia | – | 1,277,737,693 | 468,579,450 | – | 13,412,457 | 266,428 | 1,759,996,028 |
| Africa | | | | | | | |
| Egypt | – | 41,164,348 | – | 1,836,435 | – | – | 43,000,783 |
| Nigeria | 3,804,949,166 | 648,734,398 | 780,231,463 | – | 102,925,166 | – | 5,336,840,193 |
| Sao Tome and Principe | – | – | – | 1,300,000 | – | – | 1,300,000 |
| Tanzania | – | – | – | – | 140,000 | – | 140,000 |
| Tunisia | – | 24,904,580 | 4,941,633 | – | – | – | 29,846,213 |
| North America | | | | | | | |
| Canada | – | 172,567,072 | 4,697,991 | – | 1,423,783 | – | 178,688,846 |
| Mexico | – | – | – | – | 21,527,002 | – | 21,527,002 |
| USA | – | 53,238,500 | 1,187,594,021 | – | 80,678,527 | 860,822 | 1,322,371,870 |
| South America | | | | | | | |
| Argentina | 53,082,051 | 1,984,309 | 143,969,668 | – | 123,276 | – | 199,159,304 |
| Brazil | 327,688,819 | 656,740,954 | 1,147,687,680 | 9,540,351 | 1,556,282,443 | – | 3,697,940,247 |
| Colombia | – | – | – | – | 489,880 | – | 489,880 |
| Trinidad and Tobago | 362,690,585 | 561,771 | 2,210,566 | 300,000 | 13,719,070 | – | 379,481,992 |
| Total | 11,387,783,976 | 10,456,840,201 | 4,322,795,167 | 12,976,786 | 1,913,987,033 | 1,127,250 | 28,095,510,413 |
[1] The figures in this Report are rounded.
Germany
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| FEDERAL CENTRAL TAX OFFICE | – | 294,891,077 | – | – | – | – | 294,891,077 |
| MUNICIPALITY OF COLOGNE | – | -2,763,591 | – | – | – | – | -2,763,591 |
| MUNICIPALITY OF DINSLAKEN | – | -386,534 | – | – | – | – | -386,534 |
| MUNICIPALITY OF GELSENKIRCHEN | – | -483,145 | – | – | – | – | -483,145 |
| MUNICIPALITY OF OSTSTEINBEK | – | 584,685 | – | – | – | – | 584,685 |
| MUNICIPALITY OF WESSELING | – | -3,943,262 | – | – | – | – | -3,943,262 |
| TAX AUTHORITY HAMBURG | – | -43,963,789 | – | – | – | – | -43,963,789 |
| Total | – | 243,935,441 | – | – | – | – | 243,935,441 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Entity level payment | | | | | | | |
| DEUTSCHE SHELL HOLDING GmbH | – | 243,935,441 | – | – | – | – | 243,935,441 |
| Total | – | 243,935,441 | – | – | – | – | 243,935,441 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Italy
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| CALVELLO MUNICIPALITY | – | – | 884,083 | – | – | – | 884,083 |
| CORLETO PERTICARA MUNICIPALITY | – | – | 1,964,671 | – | – | – | 1,964,671 |
| GORGOGLIONE MUNICIPALITY | – | – | 302,257 | – | – | – | 302,257 |
| GRUMENTO NOVA MUNICIPALITY | – | – | 505,190 | – | – | – | 505,190 |
| MARSICO NUOVO MUNICIPALITY | – | – | 378,893 | – | – | – | 378,893 |
| MARSICOVETERE MUNICIPALITY | – | – | 126,298 | – | – | – | 126,298 |
| MONTEMURRO MUNICIPALITY | – | – | 126,298 | – | – | – | 126,298 |
| REGIONE BASILICATA | – | – | 44,157,199 | – | 79,302,465 | – | 123,459,664 |
| TESORERIA PROVINICIALE DELLO STATO | – | 4,128,063 | 22,264,135 | – | 718,305 | – | 27,110,503 |
| VIGGIANO MUNICIPALITY | – | – | 3,504,758 | – | 200,016 | – | 3,704,774 |
| Total | – | 4,128,063 | 74,213,782 | – | 80,220,786 | – | 158,562,631 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| ITALY UPSTREAM ASSET | – | 4,128,063 | 74,213,782 | – | 80,220,786 | – | 158,562,631 |
| Total | – | 4,128,063 | 74,213,782 | – | 80,220,786 | – | 158,562,631 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Norway
| Government report (in USD) [1] | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | |||||||
| EQUINOR ASA | 853,946,278 | [A] | – | – | – | – | – | 853,946,278 |
| PETORO AS | 1,229,275,364 | [B] | – | – | – | – | – | 1,229,275,364 |
| SKATTEETATEN | – | | 1,300,962,023 | – | – | – | – | 1,300,962,023 |
| SOKKELDIREKTORATET | – | | – | – | – | 122,391 | – | 122,391 |
| Total | 2,083,221,642 | | 1,300,962,023 | – | – | 122,391 | – | 3,384,306,056 |
| | | |||||||
| Project report (in USD) | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | |
| ORMEN LANGE | 2,083,221,642 | [C] | – | – | – | – | – | 2,083,221,642 |
| Entity level payment | | | | | | | | |
| A/S NORSKE SHELL | — | | 1,300,962,023 | – | – | 122,391 | – | 1,301,084,414 |
| Total | 2,083,221,642 | | 1,300,962,023 | – | – | 122,391 | – | 3,384,306,056 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $853,946,278 for 12,291 thousand barrels of oil equivalent (kboe) valuated at market price.
[B] Includes payment in kind of $1,229,275,364 for 17,693 kboe valuated at market price.
[C] Includes payment in kind of $2,083,221,642 for 29,984 kboe valuated at market price.
United Kingdom
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | ||||||
| HM REVENUE AND CUSTOMS | – | -16,649,747 | – | – | – | – | -16,649,747 |
| NORTH SEA TRANSITION AUTHORITY | – | – | – | – | 11,355,210 | – | 11,355,210 |
| THE CROWN ESTATE SCOTLAND | – | – | – | – | 128,319 | – | 128,319 |
| Total | – | -16,649,747 | – | – | 11,483,529 | – | -5,166,218 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| BRENT AND OTHER NORTHERN NORTH SEA PROJECTS | – | -32,113,820 | – | – | 563,325 | – | -31,550,495 |
| ONEGAS WEST | – | – | – | – | 3,232,597 | – | 3,232,597 |
| UK EXPLORATION PROJECTS | – | – | – | – | 1,117,783 | – | 1,117,783 |
| UK OFFSHORE OPERATED | – | – | – | – | 2,119,313 | – | 2,119,313 |
| WEST OF SHETLAND NON-OPERATED | – | – | – | – | 1,076,456 | – | 1,076,456 |
| Entity level payment | | | | | | | |
| SHELL U.K. LIMITED | – | 15,464,073 | – | – | 3,374,055 | – | 18,838,128 |
| Total | – | -16,649,747 | – | – | 11,483,529 | – | -5,166,218 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Brunei
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| MINISTRY OF FINANCE AND ECONOMY | – | 44,229,620 | – | – | – | – | 44,229,620 |
| PETROLEUM AUTHORITY OF BRUNEI DARUSSALEM | 3,983,642 | – | 8,660,091 | – | – | – | 12,643,733 |
| Total | 3,983,642 | 44,229,620 | 8,660,091 | – | – | – | 56,873,353 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Entity level payment | | | | | | | |
| SHELL DEEPWATER BORNEO B.V. | – | 39,001,133 | – | – | – | – | 39,001,133 |
| SHELL EXPLORATION AND PRODUCTION BRUNEI B.V. | 3,983,642 | 5,228,487 | 8,660,091 | – | – | – | 17,872,220 |
| Total | 3,983,642 | 44,229,620 | 8,660,091 | – | – | – | 56,873,353 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
China
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| TIANJIN MUNICIPAL TAXATION BUREAU | – | 5,911,867 | – | – | – | – | 5,911,867 |
| YULIN MUNICIPAL TAXATION BUREAU | – | 4,431,749 | – | – | – | – | 4,431,749 |
| Total | – | 10,343,616 | – | – | – | – | 10,343,616 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Entity level payment | | | | | | | |
| SHELL CHINA EXPLORATION AND PRODUCTION COMPANY LIMITED | – | 10,343,616 | – | – | – | – | 10,343,616 |
| Total | – | 10,343,616 | – | – | – | – | 10,343,616 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
India
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| INCOME TAX DEPARTMENT | – | -17,715,638 | – | – | – | – | -17,715,638 |
| Total | – | -17,715,638 | – | – | – | – | -17,715,638 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Entity level payment | | | | | | | |
| BG EXPLORATION AND PRODUCTION INDIA LIMITED | – | -17,715,638 | – | – | – | – | -17,715,638 |
| Total | – | -17,715,638 | – | – | – | – | -17,715,638 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Kazakhstan
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| WEST KAZAKHSTAN TAX COMMITTEE | – | 242,741,780 | – | – | – | – | 242,741,780 |
| Total | – | 242,741,780 | – | – | – | – | 242,741,780 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| KARACHAGANAK | – | 242,741,780 | – | – | – | – | 242,741,780 |
| Total | – | 242,741,780 | – | – | – | – | 242,741,780 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Malaysia
| Government report (in USD) [1] | |||||||||
| | Production entitlements | | Taxes | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | | |||||||
| BRUNEI NATIONAL PETROLEUM COMPANY SENDIRIAN BERHAD | 301,048,915 | [A] | – | – | | – | – | – | 301,048,915 |
| LEMBAGA HASIL DALAM NEGERI | – | | 305,924,901 | – | | – | – | – | 305,924,901 |
| MALAYSIA FEDERAL AND STATE GOVERNMENTS | – | | – | 469,060,363 | [B] | – | – | – | 469,060,363 |
| PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD. | 74,656,856 | [C] | – | – | | – | – | – | 74,656,856 |
| PETROLIAM NASIONAL BERHAD | 990,078,563 | [D] | – | 30,948,459 | | – | – | – | 1,021,027,022 |
| PETRONAS CARIGALI SDN. BHD. | 951,218,473 | [E] | – | – | | – | – | – | 951,218,473 |
| Total | 2,317,002,807 | | 305,924,901 | 500,008,822 | | – | – | – | 3,122,936,530 |
| | | | | | | | | | |
| Project report (in USD) | |||||||||
| | Production entitlements | | Taxes | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | | |
| SABAH GAS (NON-OPERATED) | – | | 16,208,714 | 3,017,327 | | – | – | – | 19,226,041 |
| SABAH INBOARD AND DEEPWATER OIL | 1,435,194,825 | [F] | 158,435,164 | 303,452,674 | [G] | – | – | – | 1,897,082,663 |
| SARAWAK OIL AND GAS | 881,807,982 | [H] | 116,047,586 | 193,538,821 | [I] | – | – | – | 1,191,394,389 |
| Entity level payment | | | | | | | | | |
| SABAH SHELL PETROLEUM COMPANY LIMITED | – | | 4,502,043 | – | | – | – | – | 4,502,043 |
| SARAWAK SHELL BERHAD | – | | 3,394,907 | – | | – | – | – | 3,394,907 |
| SHELL ENERGY ASIA LIMITED | – | | 2,616,753 | – | | – | – | – | 2,616,753 |
| SHELL OIL AND GAS (MALAYSIA) LLC | – | | 595,653 | – | | – | – | – | 595,653 |
| SHELL SABAH SELATAN SENDRIAN BERHAD | – | | 4,124,081 | – | | – | – | – | 4,124,081 |
| Total | 2,317,002,807 | | 305,924,901 | 500,008,822 | | – | – | – | 3,122,936,530 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $301,048,915 for 3,355 thousand barrels of oil equivalent (kboe) valuated at market price.
[B] Includes payment in kind of $342,702,511 for 3,909 kboe valuated at market price and $126,357,852 for 6,336 kboe valuated at fixed price.
[C] Includes payment in kind of $59,554,178 for 3,011 kboe valuated at fixed price and $15,102,678 for 201 kboe valuated at market price.
[D] Includes payment in kind of $783,520,240 for 8,933 kboe valuated at market price and $209,732,743 for 10,921 kboe valuated at fixed price.
[E] Includes payment in kind of $624,146,940 for 7,163 kboe valuated at market price and $327,071,533 for 16,397 kboe valuated at fixed price.
[F] Includes payment in kind of $1,435,194,825 for 15,977 kboe valuated at market price.
[G] Includes payment in kind of $297,371,578 for 3,339 kboe valuated at market price.
[H] Includes payment in kind of $596,358,454 for 30,329 kboe valuated at fixed price and $288,623,948 for 3,675 kboe valuated at market price.
[I] Includes payment in kind of $126,357,852 for 6,336 kboe valuated at fixed price and $45,330,933 for 570 kboe valuated at market price.
Oman
| Government report (in USD) [1] | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | |||||||
| MINISTRY OF ENERGY AND MINERALS | 633,711,368 | [A] | – | – | – | – | – | 633,711,368 |
| MINISTRY OF FINANCE | – | | 3,954,062,451 | – | – | 900,000 | – | 3,954,962,451 |
| Total | 633,711,368 | | 3,954,062,451 | – | – | 900,000 | – | 4,588,673,819 |
| | | |||||||
| Project report (in USD) | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | |
| BLOCK 6 CONCESSION | – | | 3,954,062,451 | – | – | – | – | 3,954,062,451 |
| BLOCK 10 CONCESSION | 633,711,368 | [A] | – | – | – | 400,000 | – | 634,111,368 |
| BLOCK 11 CONCESSION | – | | – | – | – | 250,000 | – | 250,000 |
| BLOCK 55 CONCESSION | – | | – | – | – | 250,000 | – | 250,000 |
| Total | 633,711,368 | | 3,954,062,451 | – | – | 900,000 | – | 4,588,673,819 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $60,839,756 for 4,551 kboe valuated at fixed price and of $572,871,612 for 7,095 kboe valuated at the government's selling price.
Qatar
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| QATARENERGY | 1,801,453,896 | 1,507,244,066 | – | – | 30,538,723 | – | 3,339,236,685 |
| Total | 1,801,453,896 | 1,507,244,066 | – | – | 30,538,723 | – | 3,339,236,685 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| PEARL GTL | 1,801,453,896 | 1,507,244,066 | – | – | 30,538,723 | – | 3,339,236,685 |
| Total | 1,801,453,896 | 1,507,244,066 | – | – | 30,538,723 | – | 3,339,236,685 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Australia
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| AUSTRALIAN TAXATION OFFICE | – | 1,277,737,693 | – | – | – | – | 1,277,737,693 |
| BANANA SHIRE COUNCIL | – | – | – | – | 217,920 | – | 217,920 |
| FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES | – | – | 111,989,284 | – | – | – | 111,989,284 |
| QUEENSLAND REVENUE OFFICE | – | – | 356,590,166 | – | – | – | 356,590,166 |
| QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE | – | – | – | – | 935,554 | – | 935,554 |
| QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES | – | – | – | – | 581,472 | – | 581,472 |
| RESOURCES SAFETY AND HEALTH QUEENSLAND | – | – | – | – | 1,359,992 | – | 1,359,992 |
| WESTERN DOWNS REGIONAL COUNCIL | – | – | – | – | 10,317,519 | 266,428 | 10,583,947 |
| Total | – | 1,277,737,693 | 468,579,450 | – | 13,412,457 | 266,428 | 1,759,996,028 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| NORTH WEST SHELF | – | – | 111,989,284 | – | – | – | 111,989,284 |
| QGC | – | 583,570,540 | 356,590,166 | – | 13,412,457 | 266,428 | 953,839,591 |
| Entity level payment | | | | | | | |
| SHELL AUSTRALIA PTY LTD | – | 694,167,153 | – | – | – | – | 694,167,153 |
| Total | – | 1,277,737,693 | 468,579,450 | – | 13,412,457 | 266,428 | 1,759,996,028 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Egypt
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| EGYPTIAN GENERAL PETROLEUM CORPORATION | – | 41,164,348 | – | 1,836,435 | – | – | 43,000,783 |
| Total | – | 41,164,348 | – | 1,836,435 | – | – | 43,000,783 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| EGYPT OFFSHORE DEVELOPMENT | – | 41,164,348 | – | 540,000 | – | – | 41,704,348 |
| Entity level payment | | | | | | | |
| SHELL EGYPT N.V. | – | – | – | 1,296,435 | – | – | 1,296,435 |
| Total | – | 41,164,348 | – | 1,836,435 | – | – | 43,000,783 |
[I] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Nigeria
| Government report (in USD) [1] | ||||||||||
| | Production entitlements | | Taxes | | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | | | |||||||
| FEDERAL INLAND REVENUE SERVICE | – | | 648,734,398 | [A] | – | | – | – | – | 648,734,398 |
| NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE | – | | – | | – | | – | 3,931,917 | – | 3,931,917 |
| NIGER DELTA DEVELOPMENT COMMISSION | – | | – | | – | | – | 97,260,899 | – | 97,260,899 |
| NIGERIAN NATIONAL PETROLEUM CORPORATION | 3,804,949,166 | [B] | – | | – | | – | – | – | 3,804,949,166 |
| NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION | – | | – | | 780,231,463 | [C] | – | 1,732,350 | – | 781,963,813 |
| Total | 3,804,949,166 | | 648,734,398 | | 780,231,463 | | – | 102,925,166 | – | 5,336,840,193 |
| | | | | | | | | | | |
| Project report (in USD) | ||||||||||
| | Production entitlements | | Taxes | | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | | | |
| EAST ASSET | 1,300,681,939 | [D] | – | | – | | – | – | – | 1,300,681,939 |
| PSC 1993 (OML 133) | – | | 136,652,153 | [E] | – | | – | – | – | 136,652,153 |
| PSC 1993 (OPL 212/OML 118, OPL 219/OML 135) | 649,948,707 | [F] | 303,125,852 | [G] | 452,170,096 | [H] | – | 32,015,797 | – | 1,437,260,452 |
| WEST ASSET | 1,854,318,520 | [I] | – | | – | | – | – | – | 1,854,318,520 |
| Entity level payment | | | | | | | | | | |
| SHELL NIGERIA EXPLORATION AND PRODUCTION COMPANY LIMITED | | | – | | – | | – | 440,468 | – | 440,468 |
| THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED | | | 208,956,393 | | 328,061,367 | | | 70,468,901 | | 607,486,661 |
| Total | 3,804,949,166 | | 648,734,398 | | 780,231,463 | | – | 102,925,166 | – | 5,336,840,193 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $439,778,005 for 5,293 kboe valuated at market price.
[B] Includes payment in kind of $3,804,949,166 for 80,289 kboe valuated at market price.
[C] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.
[D] Includes payment in kind of $1,300,681,939 for 49,766 kboe valuated at market price.
[E] Includes payment in kind of $136,652,153 for 1,654 kboe valuated at market price.
[F] Includes payment in kind of $649,948,707 for 7,916 kboe valuated at market price.
[G] Includes payment in kind of $303,125,852 for 3,639 kboe valuated at market price.
[H] Includes payment in kind of $452,170,096 for 5,432 kboe valuated at market price.
[I] Includes payment in kind of $1,854,318,520 for 22,607 kboe valuated at market price.
Sao Tome and Principe
| | Government report (in USD) [1] | ||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE | – | – | – | 1,300,000 | – | – | 1,300,000 |
| Total | – | – | – | 1,300,000 | – | – | 1,300,000 |
| | |||||||
| | Project report (in USD) | ||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| DW BLOCK 4 | – | – | – | 1,300,000 | – | – | 1,300,000 |
| Total | – | – | – | 1,300,000 | – | – | 1,300,000 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Tanzania
| | Government report (in USD) [1] | ||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| PETROLEUM UPSTREAM REGULATORY AUTHORITY | – | – | – | – | 140,000 | – | 140,000 |
| Total | – | – | – | – | 140,000 | – | 140,000 |
| | |||||||
| | Project report (in USD) | ||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| BLOCK 1 AND 4 | – | – | – | – | 140,000 | – | 140,000 |
| Total | – | – | – | – | 140,000 | – | 140,000 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Tunisia
| | Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | |||||||
| ENTREPRISE TUNISIENNE D'ACTIVITÉS PÉTROLIÈRES | – | – | 2,140,627 | [A] | – | – | – | 2,140,627 |
| LE RECEVEUR DES FINANCES DU LAC | – | 24,904,580 | 2,801,006 | | – | – | – | 27,705,586 |
| Total | – | 24,904,580 | 4,941,633 | | – | – | – | 29,846,213 |
| | | |||||||
| | Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | |
| HASDRUBAL CONCESSION | – | 24,904,580 | 4,941,633 | [A] | – | – | – | 29,846,213 |
| Total | – | 24,904,580 | 4,941,633 | | – | – | – | 29,846,213 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.
Canada
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| GOVERNMENT OF ALBERTA | – | – | 656,638 | – | 119,099 | – | 775,737 |
| MINISTRY OF FINANCE (BRITISH COLUMBIA) | – | – | 2,915,313 | – | 625,526 | – | 3,540,839 |
| MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION (BRITISH COLUMBIA) | – | – | – | – | 679,158 | – | 679,158 |
| PROVINCIAL TREASURER OF ALBERTA | – | 60,864,405 | – | – | – | – | 60,864,405 |
| RECEIVER GENERAL FOR CANADA | – | 111,702,667 | 1,126,040 | – | – | – | 112,828,707 |
| Total | – | 172,567,072 | 4,697,991 | – | 1,423,783 | – | 178,688,846 |
| | | | | | | | |
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| ATHABASCA OIL SANDS | – | 172,567,072 | – | – | – | – | 172,567,072 |
| FOOTHILLS | – | – | 1,126,040 | – | – | – | 1,126,040 |
| GREATER DEEP BASIN | – | – | 656,638 | – | 119,099 | – | 775,737 |
| GROUNDBIRCH | – | – | 2,915,313 | – | 1,304,684 | – | 4,219,997 |
| Total | – | 172,567,072 | 4,697,991 | – | 1,423,783 | – | 178,688,846 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Mexico
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| FONDO MEXICANO DEL PETRÓLEO PARA LA ESTABILIZACIÓN Y EL DESARROLLO | – | – | – | – | 17,154,483 | – | 17,154,483 |
| SERVICIO DE ADMINISTRACIÓN TRIBUTARIA | – | – | – | – | 4,372,519 | – | 4,372,519 |
| Total | – | – | – | – | 21,527,002 | – | 21,527,002 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Entity level payment | | | | | | | |
| MEXICO EXPLORATION DEEPWATER | – | – | – | – | 21,527,002 | – | 21,527,002 |
| Total | – | – | – | – | 21,527,002 | – | 21,527,002 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
USA
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| ALASKA DEPARTMENT OF NATURAL RESOURCES | – | – | – | – | 243,408 | – | 243,408 |
| COMMONWEALTH OF PENNSYLVANIA | – | -400,000 | – | – | – | – | -400,000 |
| INTERNAL REVENUE SERVICE | – | 53,638,500 | – | – | – | – | 53,638,500 |
| LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT | – | – | – | – | – | 860,822 | 860,822 |
| OFFICE OF NATURAL RESOURCES REVENUE | – | – | 1,187,594,021 | – | 80,435,119 | – | 1,268,029,140 |
| Total | – | 53,238,500 | 1,187,594,021 | – | 80,678,527 | 860,822 | 1,322,371,870 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| ALASKA EXPLORATION | – | – | – | – | 243,408 | – | 243,408 |
| GULF OF AMERICA (CENTRAL) | – | – | 1,076,187,269 | – | 282,312 | – | 1,076,469,581 |
| GULF OF AMERICA (WEST) | – | – | 111,406,752 | – | 126,720 | – | 111,533,472 |
| GULF OF AMERICA EXPLORATION | – | – | – | – | 80,026,087 | – | 80,026,087 |
| Entity level payment | | | | | | | |
| SHELL EXPLORATION AND PRODUCTION COMPANY | – | -400,000 | – | – | – | – | -400,000 |
| SHELL OFFSHORE INC. | – | – | – | – | – | 860,822 | 860,822 |
| SHELL PETROLEUM INC. | – | 53,638,500 | – | – | – | – | 53,638,500 |
| Total | – | 53,238,500 | 1,187,594,021 | – | 80,678,527 | 860,822 | 1,322,371,870 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Argentina
| Government report (in USD) [1] | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | |||||||
| AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO | – | | 1,984,309 | – | – | – | – | 1,984,309 |
| GAS Y PETRÓLEO DEL NEUQUÉN S.A. | 53,082,051 | [A] | – | – | – | – | – | 53,082,051 |
| PROVINCIA DE SALTA | – | | – | 2,475,819 | – | – | – | 2,475,819 |
| PROVINCIA DEL NEUQUÉN | – | | – | 141,493,849 | – | 123,276 | – | 141,617,125 |
| Total | 53,082,051 | | 1,984,309 | 143,969,668 | – | 123,276 | – | 199,159,304 |
| | | | | | | | | |
| Project report (in USD) | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | |
| ACAMBUCO | – | | – | 2,475,819 | – | – | – | 2,475,819 |
| ARGENTINA UNCONVENTIONAL PROJECTS | 53,082,051 | [A] | 1,984,309 | 141,493,849 | – | 123,276 | – | 196,683,485 |
| Total | 53,082,051 | | 1,984,309 | 143,969,668 | – | 123,276 | – | 199,159,304 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $53,082,051 for 785 kboe valuated at market price.
Brazil
| Government report (in USD) [1] | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | | |||||||
| AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS | – | | – | – | 9,540,351 | – | – | 9,540,351 |
| MINISTÉRIO DA FAZENDA | – | | – | 1,147,687,680 | – | 1,556,282,443 | – | 2,703,970,123 |
| PRÉ-SAL PETRÓLEO S.A. | 327,688,819 | [A] | – | – | – | – | – | 327,688,819 |
| RECEITA FEDERAL DO BRASIL | – | | 656,740,954 | – | – | – | – | 656,740,954 |
| Total | 327,688,819 | | 656,740,954 | 1,147,687,680 | 9,540,351 | 1,556,282,443 | – | 3,697,940,247 |
| | | |||||||
| Project report (in USD) | ||||||||
| | Production entitlements | | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | | |
| BASIN EXPLORATION PROJECTS | – | | – | – | 9,540,351 | 3,244,993 | – | 12,785,344 |
| BC-10 | – | | – | 31,254,519 | – | 1,251,598 | – | 32,506,117 |
| BIJUPIRA AND SALEMA | – | | – | – | – | 501,608 | – | 501,608 |
| BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOÁ | 29,716,011 | [B] | – | 882,483,636 | – | 1,551,284,244 | – | 2,463,483,891 |
| LIBRA PSC | 297,972,808 | [C] | – | 233,949,525 | – | – | – | 531,922,333 |
| Entity level payment | | | | | | | | |
| SHELL BRASIL PETROLEO LTDA. | – | | 656,740,954 | – | – | – | – | 656,740,954 |
| Total | 327,688,819 | | 656,740,954 | 1,147,687,680 | 9,540,351 | 1,556,282,443 | – | 3,697,940,247 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
[A] Includes payment in kind of $327,688,819 for 4,585 kboe valuated at market price.
[B] Includes payment in kind of $29,716,011 for 410 kboe valuated at market price.
[C] Includes payment in kind of $297,972,808 for 4,175 kboe valuated at market price.
Colombia
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| AGENCIA NACIONAL DE HIDROCARBUROS | – | – | – | – | 489,880 | – | 489,880 |
| Total | – | – | – | – | 489,880 | – | 489,880 |
| | | | | | | | |
| Project report (in USD) | |||||||
| Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total | |
| Projects | | | | | | | |
| COLOMBIA EXPLORATION (OPERATED) | – | – | – | – | 489,880 | – | 489,880 |
| Total | – | – | – | – | 489,880 | – | 489,880 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Trinidad and Tobago
| Government report (in USD) [1] | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Governments | |||||||
| MINISTRY OF FINANCE | – | 561,771 | – | – | – | – | 561,771 |
| MINISTRY OF ENERGY AND ENERGY INDUSTRIES | 362,690,585 | – | 2,210,566 | 300,000 | 13,719,070 | – | 378,920,221 |
| Total | 362,690,585 | 561,771 | 2,210,566 | 300,000 | 13,719,070 | – | 379,481,992 |
| | |||||||
| Project report (in USD) | |||||||
| | Production entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure improvements | Total |
| Projects | | | | | | | |
| BLOCK 5C | 84,428,910 | – | – | – | 1,714,071 | – | 86,142,981 |
| CENTRAL BLOCK | – | 561,771 | 2,210,566 | – | 900,921 | – | 3,673,258 |
| COLIBRI | 120,876,414 | – | – | – | 3,332,208 | – | 124,208,622 |
| DEEPWATER ATLANTIC AREA | – | – | – | – | 537,570 | – | 537,570 |
| EAST COAST MARINE AREA | 99,098,428 | – | – | – | 2,100,156 | – | 101,198,584 |
| EXPLORATION | – | – | – | 300,000 | 2,017,530 | – | 2,317,530 |
| MANATEE | – | – | – | – | 847,999 | – | 847,999 |
| NORTH COAST MARINE AREA 1 | 58,286,833 | – | – | – | 2,268,615 | – | 60,555,448 |
| Total | 362,690,585 | 561,771 | 2,210,566 | 300,000 | 13,719,070 | – | 379,481,992 |
[1] For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 1-2 of this Report.
Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this Report refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
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