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Shell plc - Report on Payments to Governments for the year 2025
Shell plc – Report on Payments to Governments for the year 2025
Basis for Preparation - Report on Payments to Governments for the year 2025
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 2025 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 a 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, 2025, 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 | |||||||
| Albania | – | – | – | – | 228,097 | – | 228,097 |
| Bulgaria | – | – | – | 658,383 | 145,695 | – | 804,078 |
| Germany | – | 77,755,904 | – | – | – | – | 77,755,904 |
| Italy | – | 3,351,499 | 74,686,060 | – | 66,336,536 | – | 144,374,094 |
| Norway | 2,120,072,656 | 1,649,751,614 | – | – | – | – | 3,769,824,270 |
| United Kingdom | – | 110,374,110 | – | – | 11,857,193 | – | 122,231,303 |
| Asia | |||||||
| Brunei | 3,313,159 | 40,519,441 | 7,202,519 | – | – | – | 51,035,119 |
| China | – | 18,523,634 | – | – | – | – | 18,523,634 |
| India | – | -14,562,223 | – | – | – | – | -14,562,223 |
| Kazakhstan | – | 256,637,895 | – | – | – | – | 256,637,895 |
| Malaysia | 1,691,805,666 | 285,593,040 | 405,405,924 | – | – | – | 2,382,804,630 |
| Middle East | |||||||
| Oman | 576,872,405 | 3,412,390,365 | 900,000 | 3,990,162,769 | |||
| Qatar | 1,479,379,939 | 1,401,933,995 | – | – | 31,476,961 | – | 2,912,790,895 |
| Oceania | |||||||
| Australia | – | 1,445,905,137 | 358,637,902 | – | 13,413,472 | 461,434 | 1,818,417,944 |
| Africa | |||||||
| Egypt | – | 155,405,582 | – | 6,042,288 | – | – | 161,447,870 |
| Nigeria | 1,237,467,592 | 236,994,532 | 454,028,549 | – | 87,895,758 | – | 2,016,386,431 |
| Sao Tome and Principe | – | – | – | – | 200,000 | – | 200,000 |
| Tanzania | – | – | – | – | 142,811 | – | 142,811 |
| Tunisia | – | 3,083,119 | 1,785,824 | – | – | – | 4,868,943 |
| North America | |||||||
| Canada | – | 109,370,682 | 4,882,029 | – | 1,542,623 | – | 115,795,334 |
| Mexico | – | – | – | – | -137,827 | – | -137,827 |
| United States of America | – | -23,901,400 | 1,120,356,065 | – | 20,817,759 | 860,822 | 1,118,133,246 |
| South America | |||||||
| Argentina | 34,615,936 | 1,880,988 | 136,470,329 | – | 335,780 | – | 173,303,033 |
| Brazil | 459,707,687 | 865,744,450 | 1,203,877,226 | 338,891,043 | 1,385,827,494 | – | 4,254,047,901 |
| Colombia | – | – | – | – | 488,120 | – | 488,120 |
| Trinidad and Tobago | 433,047,898 | 784,943 | 631,618 | 15,000,000 | 11,750,134 | – | 461,214,593 |
| Grand Total | 8,036,282,937 | 10,037,537,308 | 3,767,964,045 | 360,591,715 | 1,633,220,604 | 1,322,256 | 23,836,918,866 |
- The figures in this Report are rounded.
Albania
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| DEGA E THESARIT BERAT | – | – | – | – | 228,097 | – | 228,097 |
| Total | – | – | – | – | 228,097 | – | 228,097 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| ALBANIA OPERATED | – | – | – | – | 228,097 | – | 228,097 |
| Total | – | – | – | – | 228,097 | – | 228,097 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Bulgaria
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| MINISTRY OF ENERGY BULGARIA | – | – | – | 658,383 | 145,695 | – | 804,078 |
| Total | – | – | – | 658,383 | 145,695 | – | 804,078 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| KHAN TERVEL | – | – | – | 658,383 | 145,695 | – | 804,078 |
| Total | – | – | – | 658,383 | 145,695 | – | 804,078 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Germany
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| FEDERAL CENTRAL TAX OFFICE | – | 73,722,167 | – | – | – | – | 73,722,167 |
| MUNICIPALITY OF COLOGNE | – | -564,461 | – | – | – | – | -564,461 |
| MUNICIPALITY OF WESSELING | – | -836,944 | – | – | – | – | -836,944 |
| TAX AUTHORITY HAMBURG | – | 5,435,141 | – | – | – | – | 5,435,141 |
| Total | – | 77,755,904 | – | – | – | – | 77,755,904 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Entity level payments | |||||||
| DEUTSCHE SHELL HOLDING GmbH | – | 77,755,904 | – | – | – | – | 77,755,904 |
| Total | – | 77,755,904 | – | – | – | – | 77,755,904 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Italy
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| CALVELLO MUNICIPALITY | – | – | 822,781 | – | – | – | 822,781 |
| CORLETO PERTICARA MUNICIPALITY | – | – | 2,310,677 | – | – | – | 2,310,677 |
| ENI SPA | – | – | – | – | 435,200 | – | 435,200 |
| GORGOGLIONE MUNICIPALITY | – | – | 355,489 | – | – | – | 355,489 |
| GRUMENTO NOVA MUNICIPALITY | – | – | 470,161 | – | – | – | 470,161 |
| MARSICO NUOVO MUNICIPALITY | – | – | 352,620 | – | – | – | 352,620 |
| MARSICOVETERE MUNICIPALITY | – | – | 117,540 | – | – | – | 117,540 |
| MONTEMURRO MUNICIPALITY | – | – | 117,540 | – | – | – | 117,540 |
| REGIONE BASILICATA | – | – | 44,567,378 | – | 61,369,377 | – | 105,936,754 |
| TESORERIA PROVINICIALE DELLO STATO | – | 3,351,499 | 22,310,135 | – | 808,495 | – | 26,470,129 |
| VIGGIANO MUNICIPALITY | – | – | 3,261,739 | – | 3,723,464 | – | 6,985,203 |
| Total | – | 3,351,499 | 74,686,060 | – | 66,336,536 | – | 144,374,094 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| UPSTREAM ASSETS | – | 3,351,499 | 74,686,060 | – | 66,336,536 | – | 144,374,094 |
| Total | – | 3,351,499 | 74,686,060 | – | 66,336,536 | – | 144,374,094 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Norway
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| EQUINOR ASA | 869,052,105 [A] | – | – | – | – | – | 869,052,105 |
| PETORO AS | 1,251,020,551 [B] | – | – | – | – | – | 1,251,020,551 |
| SKATTEETATEN | – | 1,649,751,614 | – | – | – | – | 1,649,751,614 |
| Total | 2,120,072,656 | 1,649,751,614 | – | – | – | – | 3,769,824,270 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| ORMEN LANGE | 2,120,072,656 [C] | – | – | – | – | – | 2,120,072,656 |
| Entity level payments | |||||||
| A/S NORSKE SHELL | – | 1,649,751,614 | – | – | – | – | 1,649,751,614 |
| Total | 2,120,072,656 | 1,649,751,614 | – | – | – | – | 3,769,824,270 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $869,052,105 for 12,508 KBOE valuated at market price.
- Includes payment in kind of $1,251,020,551 for 18,006 KBOE valuated at market price.
- Includes payment in kind of $2,120,072,656 for 30,514 KBOE valuated at market price.
United Kingdom
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| HM REVENUE AND CUSTOMS | – | 110,374,110 | – | – | – | – | 110,374,110 |
| NORTH SEA TRANSITION AUTHORITY | – | – | – | – | 11,650,563 | – | 11,650,563 |
| THE CROWN ESTATE SCOTLAND | – | – | – | – | 206,630 | – | 206,630 |
| Total | – | 110,374,110 | – | – | 11,857,193 | – | 122,231,303 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| BRENT AND OTHER NORTHERN NORTH SEA PROJECTS | – | -51,981,053 | – | – | 632,416 | – | -51,348,637 |
| EXPLORATIONS PROJECTS | – | – | – | – | 1,688,819 | – | 1,688,819 |
| OFFSHORE OPERATED | – | – | – | – | 2,457,930 | – | 2,457,930 |
| ONEGAS WEST | – | – | – | – | 2,769,338 | – | 2,769,338 |
| WEST OF SHETLAND NON-OPERATED | – | – | – | – | 983,512 | – | 983,512 |
| Entity level payments | |||||||
| SHELL U.K. LIMITED | – | 162,355,163 | – | – | 3,325,177 | – | 165,680,340 |
| Total | – | 110,374,110 | – | – | 11,857,193 | – | 122,231,303 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Brunei
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| MINISTRY OF FINANCE AND ECONOMY | – | 40,519,441 | – | – | – | – | 40,519,441 |
| PETROLEUM AUTHORITY OF BRUNEI DARUSSALAM | 3,313,159 | – | 7,202,519 | – | – | – | 10,515,678 |
| Total | 3,313,159 | 40,519,441 | 7,202,519 | – | – | – | 51,035,119 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Entity level payments | |||||||
| SHELL DEEPWATER BORNEO B.V. | – | 35,956,751 | – | – | – | – | 35,956,751 |
| SHELL EXPLORATION AND PRODUCTION BRUNEI B.V. | 3,313,159 | 4,562,690 | 7,202,519 | – | – | – | 15,078,368 |
| Total | 3,313,159 | 40,519,441 | 7,202,519 | – | – | – | 51,035,119 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
China
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| TIANJIN MUNICIPAL TAXATION BUREAU | – | 10,780,173 | – | – | – | – | 10,780,173 |
| YULIN MUNICIPAL TAXATION BUREAU | – | 7,743,461 | – | – | – | – | 7,743,461 |
| Total | – | 18,523,634 | – | – | – | – | 18,523,634 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Entity level payments | |||||||
| SHELL CHINA EXPLORATION & PRODUCTION COMPANY LTD | – | 18,523,634 | – | – | – | – | 18,523,634 |
| Total | – | 18,523,634 | – | – | – | – | 18,523,634 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
India
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| INCOME TAX DEPARTMENT | – | -14,562,223 | – | – | – | – | -14,562,223 |
| Total | – | -14,562,223 | – | – | – | – | -14,562,223 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Entity level payments | |||||||
| BG EXPLORATION AND PRODUCTION INDIA LIMITED | – | -14,562,223 | – | – | – | – | -14,562,223 |
| Total | – | -14,562,223 | – | – | – | – | -14,562,223 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Kazakhstan
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| TAX COMITEE IN ATYRAU | – | 44,351,823 | – | – | – | – | 44,351,823 |
| WEST KAZAKHSTAN TAX COMMITTEE | – | 212,286,072 | – | – | – | – | 212,286,072 |
| Total | – | 256,637,895 | – | – | – | – | 256,637,895 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| KARACHAGANAK | – | 212,286,072 | – | – | – | – | 212,286,072 |
| NORTH CASPIAN SEA | – | 44,351,823 | – | – | – | – | 44,351,823 |
| Total | – | 256,637,895 | – | – | – | – | 256,637,895 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Malaysia
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| LEMBAGA HASIL DALAM NEGERI | – | 285,593,040 | – | – | – | – | 285,593,040 |
| MALAYSIA FEDERAL AND STATE GOVERNMENTS | – | – | 385,269,243 [A] | – | – | – | 385,269,243 |
| PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN. BHD. | 99,864,493 [B] | – | – | – | – | – | 99,864,493 |
| PETROLIAM NASIONAL BERHAD | 845,231,131 [C] | – | 20,136,682 | – | – | – | 865,367,812 |
| PETRONAS CARIGALI SDN.BHD. | 746,710,042 [D] | – | – | – | – | – | 746,710,042 |
| Total | 1,691,805,666 | 285,593,040 | 405,405,924 | – | – | – | 2,382,804,630 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| SABAH GAS - NOT OPERATED | – | 15,384,648 | 929,077 | – | – | – | 16,313,725 |
| SABAH INBOARD AND DEEPWATER OIL | 1,089,763,624 [E] | 129,881,545 | 264,887,071 [F] | – | – | – | 1,484,532,240 |
| SARAWAK OIL AND GAS | 602,042,041 [G] | 127,896,684 | 139,589,776 [H] | – | – | – | 869,528,501 |
| Entity level payments | |||||||
| SABAH SHELL PETROLEUM COMPANY LIMITED | – | 3,846,422 | – | – | – | – | 3,846,422 |
| SARAWAK SHELL BERHAD | – | 1,956,613 | – | – | – | – | 1,956,613 |
| SHELL ENERGY ASIA LIMITED | – | 2,070,079 | – | – | – | – | 2,070,079 |
| SHELL OIL AND GAS (MALAYSIA) LLC | – | 418,556 | – | – | – | – | 418,556 |
| SHELL SABAH SELATAN SENDIRIAN BERHAD | – | 4,138,495 | – | – | – | – | 4,138,495 |
| Total | 1,691,805,666 | 285,593,040 | 405,405,924 | – | – | – | 2,382,804,630 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $290,279,641 for 3,911 KBOE valuated at market price and $94,989,601 for 5,021 KBOE valuated at fixed price.
- Includes payment in kind of $78,413,013 for 3,143 KBOE valuated at fixed price and $21,451,480 for 247 KBOE valuated at market price.
- Includes payment in kind of $782,926,973 for 10,575 KBOE valuated at market price and $110,524,567 for 5,960 KBOE valuated at fixed price.
- Includes payment in kind of $480,500,276 for 6,501 KBOE valuated at market price and $266,209,765 for 14,220 KBOE valuated at fixed price.
- Includes payment in kind of $1,089,763,624 for 14,572 KBOE valuated at market price.
- Includes payment in kind of $259,666,784 for 3,467 KBOE valuated at market price.
- Includes payment in kind of $455,147,345 for 23,323 KBOE valuated at fixed price and $195,115,105 for 2,752 KBOE valuated at market price.
- Includes payment in kind of $94,989,601 for 5,021 KBOE valuated at fixed price and $30,612,857 for 443 KBOE valuated at market price.
Oman
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| MINISTRY OF ENERGY AND MINERALS | 576,872,405 [A] | – | – | – | – | – | 576,872,405 |
| MINISTRY OF FINANCE | – | 3,391,341,601 | – | – | 900,000 | – | 3,392,241,601 |
| THE SECRETARIAT GENERAL FOR TAXATION MINISTRY OF FINANCE | – | 21,048,764 | – | – | – | – | 21,048,764 |
| Total | 576,872,405 | 3,412,390,365 | – | – | 900,000 | – | 3,990,162,769 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| BLOCK 6 CONCESSION | – | 3,391,341,601 | – | – | – | – | 3,391,341,601 |
| BLOCK 10 CONCESSION | 576,872,405 [A] | 21,048,764 | – | – | 400,000 | – | 598,321,168 |
| BLOCK 11 CONCESSION | – | – | – | – | 500,000 | – | 500,000 |
| Total | 576,872,405 | 3,412,390,365 | – | – | 900,000 | – | 3,990,162,769 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $518,222,403 for 7,294 KBOE valuated at Gov. selling price and of $58,650,002 for 4,477 KBOE valuated at fixed price.
Qatar
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| QATARENERGY | 1,479,379,939 | 1,401,933,995 | – | – | 31,476,961 | – | 2,912,790,895 |
| Total | 1,479,379,939 | 1,401,933,995 | – | – | 31,476,961 | – | 2,912,790,895 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| PEARL GTL | 1,479,379,939 | 1,401,933,995 | – | – | 31,476,961 | – | 2,912,790,895 |
| Total | 1,479,379,939 | 1,401,933,995 | – | – | 31,476,961 | – | 2,912,790,895 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Australia
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| AUSTRALIAN TAXATION OFFICE | – | 1,445,905,137 | – | – | – | – | 1,445,905,137 |
| BANANA SHIRE COUNCIL | – | – | – | – | 226,326 | – | 226,326 |
| FEDERAL DEPARTMENT OF INDUSTRY, SCIENCE AND RESOURCES | – | – | 71,579,702 | – | 115,311 | – | 71,695,012 |
| QUEENSLAND DEPARTMENT OF ENVIRONMENT AND SCIENCE | – | – | – | – | 853,606 | – | 853,606 |
| QUEENSLAND DEPARTMENT OF NATURAL RESOURCES AND MINES | – | – | – | – | 513,172 | – | 513,172 |
| QUEENSLAND REVENUE OFFICE | – | – | 287,058,200 | – | – | – | 287,058,200 |
| RESOURCES SAFETY AND HEALTH QUEENSLAND | – | – | – | – | 1,863,345 | – | 1,863,345 |
| WESTERN DOWNS REGIONAL COUNCIL | – | – | – | – | 9,841,711 | 461,434 | 10,303,145 |
| Total | – | 1,445,905,137 | 358,637,902 | – | 13,413,472 | 461,434 | 1,818,417,944 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| NORTH WEST SHELF | – | – | 71,579,702 | – | – | – | 71,579,702 |
| PRELUDE | – | – | – | – | 115,311 | – | 115,311 |
| QGC | – | 659,476,027 | 287,058,200 | – | 13,298,161 | 461,434 | 960,293,822 |
| Entity level payments | |||||||
| SHELL AUSTRALIA PTY LTD | 786,429,110 | 786,429,110 | |||||
| Total | – | 1,445,905,137 | 358,637,902 | – | 13,413,472 | 461,434 | 1,818,417,944 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Egypt
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| EGYPTIAN GENERAL PETROLEUM CORPORATION | – | 155,405,582 | – | 6,042,288 | – | – | 161,447,870 |
| Total | – | 155,405,582 | – | 6,042,288 | – | – | 161,447,870 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| EGYPT OFFSHORE DEVELOPMENT | – | 155,405,582 | – | – | – | – | 155,405,582 |
| EGYPT OFFSHORE EXPLORATION | – | – | – | 5,000,000 | – | – | 5,000,000 |
| Entity level payments | |||||||
| SHELL EGYPT N.V. | – | – | – | 1,042,288 | – | – | 1,042,288 |
| Total | – | 155,405,582 | – | 6,042,288 | – | – | 161,447,870 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Nigeria
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| FEDERAL INLAND REVENUE SERVICE | – | 236,994,532 [A] | – | – | – | – | 236,994,532 |
| NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE | – | – | – | – | 2,397,000 | – | 2,397,000 |
| NIGER DELTA DEVELOPMENT COMMISSION | – | – | – | – | 85,498,758 | – | 85,498,758 |
| NIGERIAN NATIONAL PETROLEUM CORPORATION | 1,237,467,592 [B] | – | – | – | – | – | 1,237,467,592 |
| NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION | – | – | 454,028,549 [C] | – | – | – | 454,028,549 |
| Total | 1,237,467,592 | 236,994,532 | 454,028,549 | – | 87,895,758 | – | 2,016,386,431 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| EAST ASSET | 238,832,621 [D] | – | – | – | – | – | 238,832,621 |
| OML144 | – | – | – | – | 7,642,550 | – | 7,642,550 |
| PSC 1993 (OPL209/OML133) | – | 93,824,926 [E] | – | – | – | – | 93,824,926 |
| PSC 1993 (OPL212/OML118, OPL219/OML135) | 689,820,582 [F] | 123,713,854 [G] | 387,429,297 [H] | – | 58,877,045 | – | 1,259,840,778 |
| WEST ASSET | 308,814,389 [I] | – | – | – | – | – | 308,814,389 |
| Entity level payments | |||||||
| THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED | – | 19,455,752 | 66,599,252 | – | 21,376,163 | – | 107,431,167 |
| Total | 1,237,467,592 | 236,994,532 | 454,028,549 | – | 87,895,758 | – | 2,016,386,431 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $217,538,780 for 3,121 KBOE valued at market price.
- Includes payment in kind of $1,237,467,592 for 22,346 KBOE valued at market price.
- Includes payment in kind of $387,429,297 for 5,442 KBOE valuated at market price.
- Includes payment in kind of $238,832,621 for 8,726 KBOE valuated at market price.
- Includes payment in kind of $93,824,926 for 1,330 KBOE valuated at market price.
- Includes payment in kind of $689,820,582 for 9,634 KBOE valuated at market price.
- Includes payment in kind of $123,713,854 for 1,791 KBOE valuated at market price.
- Includes payment in kind of $387,429,297 for 5,442 KBOE valuated at market price.
- Includes payment in kind of $308,814,389 for 3,986 KBOE valuated at market price.
Sao Tome and Principe
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| AGÊNCIA NACIONAL DO PETRÓLEO DE SÃO TOMÉ E PRÍNCIPE | – | – | – | – | 200,000 | – | 200,000 |
| Total | – | – | – | – | 200,000 | – | 200,000 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| DEEPWATER BLOCK 4 | – | – | – | – | 200,000 | – | 200,000 |
| Total | – | – | – | – | 200,000 | – | 200,000 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Tanzania
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| PETROLEUM UPSTREAM REGULATORY AUTHORITY | – | – | – | – | 142,811 | – | 142,811 |
| Total | – | – | – | – | 142,811 | – | 142,811 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| BLOCK 1 AND 4 | – | – | – | – | 142,811 | – | 142,811 |
| Total | – | – | – | – | 142,811 | – | 142,811 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Tunisia
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| ENTREPRISE TUNISIENNE D'ACTIVITÉS PÉTROLIÈRES | – | – | 534,110 [A] | – | – | – | 534,110 |
| LE RECEVEUR DES FINANCES DU LAC | – | 3,083,119 | 1,251,714 | – | – | – | 4,334,833 |
| Total | – | 3,083,119 | 1,785,824 | – | – | – | 4,868,943 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| HASDRUBAL CONCESSION | – | 3,083,119 | 1,785,824 [A] | – | – | – | 4,868,943 |
| Total | – | 3,083,119 | 1,785,824 | – | – | – | 4,868,943 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $534,110 for 11 KBOE valuated at market price.
Canada
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| GOVERNMENT OF ALBERTA | – | – | 173,471 | – | 227,225 | – | 400,697 |
| MINISTRY OF FINANCE (BRITISH COLUMBIA) | – | – | 4,708,558 | – | 640,989 | – | 5,349,547 |
| MINISTRY OF JOBS, ECONOMIC DEVELOPMENT AND INNOVATION | – | – | – | – | 674,408 | – | 674,408 |
| PROVINCIAL TREASURER OF ALBERTA | – | 38,275,621 | – | – | – | – | 38,275,621 |
| RECEIVER GENERAL FOR CANADA | – | 71,095,062 | – | – | – | – | 71,095,062 |
| Total | – | 109,370,682 | 4,882,029 | – | 1,542,623 | – | 115,795,334 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| ATHABASCA OIL SANDS | – | 109,370,682 | – | – | – | – | 109,370,682 |
| GREATER DEEP BASIN | – | – | 173,471 | – | 227,225 | – | 400,697 |
| GROUNDBIRCH | – | – | 4,708,558 | – | 1,315,397 | – | 6,023,955 |
| Total | – | 109,370,682 | 4,882,029 | – | 1,542,623 | – | 115,795,334 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Mexico
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| SERVICIO DE ADMINISTRACIÓN TRIBUTARIA | – | – | – | – | -137,827 | – | -137,827 |
| Total | – | – | – | – | -137,827 | – | -137,827 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| MEXICO EXPLORATION DEEPWATER | – | – | – | – | -137,827 | – | -137,827 |
| Total | – | – | – | – | -137,827 | – | -137,827 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
United States of America
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| COMPTROLLER OF PUBLIC ACCOUNTS | – | 233,960 | – | – | – | – | 233,960 |
| INTERNAL REVENUE SERVICE | – | -25,200,518 | – | – | – | – | -25,200,518 |
| LOUISIANA DEPARTMENT OF TRANSPORTATION AND DEVELOPMENT | – | – | – | – | – | 860,822 | 860,822 |
| OFFICE OF NATURAL RESOURCES REVENUE | – | – | 1,120,356,065 | – | 20,817,759 | – | 1,141,173,823 |
| STATE OF LOUISIANA | – | 1,065,158 | – | – | – | – | 1,065,158 |
| Total | – | -23,901,400 | 1,120,356,065 | – | 20,817,759 | 860,822 | 1,118,133,246 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| GULF OF AMERICA (CENTRAL) | – | – | 1,045,021,964 | – | 4,293,859 | – | 1,049,315,823 |
| GULF OF AMERICA (WEST) | – | – | 75,334,101 | – | – | – | 75,334,101 |
| GULF OF AMERICA EXPLORATION | – | – | – | – | 16,339,580 | – | 16,339,580 |
| Entity level payments | |||||||
| SHELL EXPLORATION AND PRODUCTION COMPANY | – | 249,354 | – | – | – | – | 249,354 |
| SHELL FRONTIER OIL AND GAS INC. | – | 306,710 | – | – | – | – | 306,710 |
| SHELL OFFSHORE INC. | – | 509,094 | – | – | 184,320 | 860,822 | 1,554,236 |
| SHELL PETROLEUM INC. | – | -25,200,518 | – | – | – | – | -25,200,518 |
| SHELL USA INC. | – | 233,960 | – | – | – | – | 233,960 |
| Total | – | -23,901,400 | 1,120,356,065 | – | 20,817,759 | 860,822 | 1,118,133,246 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Argentina
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| AGENCIA DE RECAUDACIÓN Y CONTROL ADUANERO | – | 1,880,988 | – | – | – | – | 1,880,988 |
| GAS Y PETRÓLEO DEL NEUQUÉN S.A. | 34,615,936 [A] | – | – | – | – | – | 34,615,936 |
| PROVINCIA DE SALTA | – | – | 2,568,298 | – | – | – | 2,568,298 |
| PROVINCIA DEL NEUQUÉN | – | – | 133,902,031 | – | 335,780 | – | 134,237,811 |
| Total | 34,615,936 | 1,880,988 | 136,470,329 | – | 335,780 | – | 173,303,033 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| ACAMBUCO | – | – | 2,568,298 | – | – | – | 2,568,298 |
| ARGENTINA UNCONVENTIONAL PROJECTS | 34,615,936 [A] | – | 133,902,031 | – | 335,780 | – | 168,853,747 |
| Entity level payments | |||||||
| SHELL ARGENTINA S.A. | – | 1,880,988 | – | – | – | – | 1,880,988 |
| Total | 34,615,936 | 1,880,988 | 136,470,329 | – | 335,780 | – | 173,303,033 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $34,615,936 for 580 KBOE valuated at market price.
Brazil
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| AGÊNCIA NACIONAL DO PETRÓLEO GÁS NATURAL E BIOCOMBUSTÍVEIS | – | – | – | 3,968,640 | – | – | 3,968,640 |
| MINISTÉRIO DA FAZENDA | – | – | 1,203,877,226 | – | 1,385,827,494 | – | 2,589,704,720 |
| PRÉ-SAL PETRÓLEO S.A. | 459,707,687 [A] | – | – | 334,922,404 | – | – | 794,630,091 |
| RECEITA FEDERAL DO BRASIL | – | 865,744,450 | – | – | – | – | 865,744,450 |
| Total | 459,707,687 | 865,744,450 | 1,203,877,226 | 338,891,043 | 1,385,827,494 | – | 4,254,047,901 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| BASIN EXPLORATION PROJECTS | – | – | – | 3,968,640 | 2,493,180 | – | 6,461,820 |
| BC-10 | – | – | 30,470,273 | – | 1,049,230 | – | 31,519,503 |
| BIJUPIRA AND SALEMA | – | – | – | – | 420,504 | – | 420,504 |
| BM-S-9, BM-S-9A, BM-S-11,BM-S-11A, ENTORNO DE SAPINHOA AND ATAPU | 21,415,909 [B] | – | 777,863,823 | 49,144,667 | 1,381,864,580 | – | 2,230,288,979 |
| JUBARTE PRE-SAL | – | – | 473,023 | – | – | – | 473,023 |
| LIBRA PSC AND MERO | 438,291,778 [C] | – | 395,070,107 | 285,777,737 | – | – | 1,119,139,622 |
| Entity level payments | |||||||
| SHELL BRASIL PETROLEO LTDA. | – | 865,744,450 | – | – | – | 865,744,450 | |
| Total | 459,707,687 | 865,744,450 | 1,203,877,226 | 338,891,043 | 1,385,827,494 | – | 4,254,047,901 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
- Includes payment in kind of $459,707,687 for 7,627 KBOE valuated at market price.
- Includes payment in kind of $21,415,909 for 357 KBOE valuated at market price.
- Includes payment in kind of $438,291,778 for 7,270 KBOE valuated at market price.
Colombia
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| AGENCIA NACIONAL DE HIDROCARBUROS | – | – | – | – | 488,120 | – | 488,120 |
| Total | – | – | – | – | 488,120 | – | 488,120 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| COLOMBIA EXPLORATION OPERATED | – | – | – | – | 488,120 | – | 488,120 |
| Total | – | – | – | – | 488,120 | – | 488,120 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the Report.
Trinidad and Tobago
Government Reports (in USD) [1]
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Governments | |||||||
| MINISTRY OF ENERGY AND ENERGY INDUSTRIES | 370,527,278 | – | 631,618 | 15,000,000 | 11,750,134 | – | 397,909,029 |
| MINISTRY OF FINANCE | – | 784,943 | – | – | – | – | 784,943 |
| NGC EXPLORATION AND PRODUCTION INVESTMENTS LIMITED | 62,520,620 | – | – | – | – | – | 62,520,620 |
| Total | 433,047,898 | 784,943 | 631,618 | 15,000,000 | 11,750,134 | – | 461,214,593 |
Project Reports (in USD)
| Production Entitlements | Taxes | Royalties | Bonuses | Fees | Infrastructure Improvements | Total | |
| Projects | |||||||
| BLOCK 5C | 84,719,937 | – | – | – | 1,807,202 | – | 86,527,139 |
| CENTRAL BLOCK | – | 784,943 | 631,618 | – | – | – | 1,416,561 |
| COLIBRI | 170,033,758 | – | – | – | 3,520,166 | – | 173,553,924 |
| DEEPWATER ATLANTIC AREA | – | – | – | – | 559,194 | – | 559,194 |
| EAST COAST MARINE AREA | 104,452,047 | – | – | – | 2,220,437 | – | 106,672,484 |
| EXPLORATION | – | – | – | – | 345,905 | – | 345,905 |
| MANATEE | – | – | – | 15,000,000 | 892,499 | – | 15,892,499 |
| NORTH COAST MARINE AREA 1 | 73,842,155 | – | – | – | 2,404,732 | – | 76,246,887 |
| Total | 433,047,898 | 784,943 | 631,618 | 15,000,000 | 11,750,134 | – | 461,214,593 |
- For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of the 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 operation", "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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