STOCK TITAN

[SD] Shell plc American Specialized Disclosure Report

Filing Impact
(No impact)
Filing Sentiment
(Neutral)
Form Type
SD
Rhea-AI Filing Summary

Shell plc’s 2024 Form SD (Rule 13q-1) discloses $28.10 billion in aggregate payments to governments for extractive activities.

  • Production entitlements $11.39 bn (40%)
  • Taxes $10.46 bn (37%)
  • Royalties $4.32 bn (15%)
  • Fees $1.91 bn
  • Bonuses $13 m
  • Infrastructure improvements $1.1 m

Largest country recipients: Nigeria $5.34 bn, Oman $4.59 bn, Brazil $3.70 bn, Norway $3.38 bn, Qatar $3.34 bn, Malaysia $3.12 bn. Major single items include Block 6 Oman tax $3.95 bn, Pearl GTL Qatar combo $3.34 bn, Nigerian NNPC production entitlement $3.80 bn (80.3 mboe in-kind), and Ormen Lange Norway production entitlement $2.08 bn.

The report, prepared under UK and EU regulations, satisfies SEC §13(q) and FCA transparency rules and is available via the FCA’s National Storage Mechanism and Shell’s website. No earnings, reserves or guidance data are provided; the filing’s relevance is chiefly regulatory transparency and potential indicator of fiscal exposure across jurisdictions.

Il modulo 2024 Form SD (Regola 13q-1) di Shell plc rivela pagamenti complessivi per 28,10 miliardi di dollari ai governi per attività estrattive.

  • Diritti di produzione 11,39 mld $ (40%)
  • Tasse 10,46 mld $ (37%)
  • Royalties 4,32 mld $ (15%)
  • Commissioni 1,91 mld $
  • Bonus 13 mln $
  • Miglioramenti infrastrutturali 1,1 mln $

Principali paesi beneficiari: Nigeria 5,34 mld $, Oman 4,59 mld $, Brasile 3,70 mld $, Norvegia 3,38 mld $, Qatar 3,34 mld $, Malesia 3,12 mld $. Tra le voci principali: tassa Blocco 6 Oman 3,95 mld $, combinazione Pearl GTL Qatar 3,34 mld $, diritto di produzione NNPC Nigeria 3,80 mld $ (80,3 mboe in natura) e diritto di produzione Ormen Lange Norvegia 2,08 mld $.

Il rapporto, redatto secondo le normative UK e UE, rispetta le regole SEC §13(q) e FCA sulla trasparenza ed è disponibile tramite il National Storage Mechanism della FCA e il sito di Shell. Non sono forniti dati su utili, riserve o previsioni; la rilevanza del documento è soprattutto normativa e come possibile indicatore dell’esposizione fiscale nei diversi paesi.

El Formulario SD 2024 (Regla 13q-1) de Shell plc revela pagos agregados a gobiernos por actividades extractivas por 28,10 mil millones de dólares.

  • Derechos de producción 11,39 mil millones $ (40%)
  • Impuestos 10,46 mil millones $ (37%)
  • Regalías 4,32 mil millones $ (15%)
  • Cuotas 1,91 mil millones $
  • Bonos 13 millones $
  • Mejoras de infraestructura 1,1 millones $

Principales países receptores: Nigeria 5,34 mil millones $, Omán 4,59 mil millones $, Brasil 3,70 mil millones $, Noruega 3,38 mil millones $, Catar 3,34 mil millones $, Malasia 3,12 mil millones $. Entre los ítems destacados: impuesto Bloque 6 Omán 3,95 mil millones $, combinación Pearl GTL Catar 3,34 mil millones $, derecho de producción NNPC Nigeria 3,80 mil millones $ (80,3 mboe en especie) y derecho de producción Ormen Lange Noruega 2,08 mil millones $.

El informe, elaborado bajo regulaciones del Reino Unido y la UE, cumple con la norma SEC §13(q) y las reglas de transparencia de la FCA, y está disponible a través del Mecanismo Nacional de Almacenamiento de la FCA y el sitio web de Shell. No se proporcionan datos sobre ganancias, reservas o pronósticos; la importancia del informe es principalmente regulatoria y como posible indicador de la exposición fiscal en distintas jurisdicciones.

Shell plc의 2024년 Form SD (규칙 13q-1)는 추출 활동에 대한 정부에 대한 총 지불액이 281억 달러임을 공개합니다.

  • 생산 권리 113억 9천만 달러 (40%)
  • 세금 104억 6천만 달러 (37%)
  • 로열티 43억 2천만 달러 (15%)
  • 수수료 19억 1천만 달러
  • 보너스 1,300만 달러
  • 인프라 개선 110만 달러

주요 수취국: 나이지리아 53억 4천만 달러, 오만 45억 9천만 달러, 브라질 37억 달러, 노르웨이 33억 8천만 달러, 카타르 33억 4천만 달러, 말레이시아 31억 2천만 달러. 주요 단일 항목으로는 오만 블록 6 세금 39억 5천만 달러, 카타르 펄 GTL 조합 33억 4천만 달러, 나이지리아 NNPC 생산 권리 38억 달러(80.3 mboe 현물), 노르웨이 오르멘 랑게 생산 권리 20억 8천만 달러가 포함됩니다.

이 보고서는 영국 및 EU 규정에 따라 작성되었으며, SEC §13(q) 및 FCA 투명성 규정을 충족하며 FCA의 국가 저장 메커니즘과 Shell 웹사이트를 통해 제공됩니다. 수익, 준비금 또는 전망 데이터는 제공되지 않으며, 이 제출 서류의 주요 목적은 규제 투명성 및 관할 구역별 재정 노출의 잠재적 지표입니다.

Le formulaire SD 2024 de Shell plc (Règle 13q-1) révèle des paiements agrégés aux gouvernements pour des activités extractives s’élevant à 28,10 milliards de dollars.

  • Droits de production 11,39 milliards $ (40%)
  • Impôts 10,46 milliards $ (37%)
  • Redevances 4,32 milliards $ (15%)
  • Frais 1,91 milliard $
  • Primes 13 millions $
  • Améliorations d’infrastructure 1,1 million $

Principaux pays bénéficiaires : Nigeria 5,34 milliards $, Oman 4,59 milliards $, Brésil 3,70 milliards $, Norvège 3,38 milliards $, Qatar 3,34 milliards $, Malaisie 3,12 milliards $. Les principaux postes uniques incluent la taxe du Bloc 6 Oman à 3,95 milliards $, la combinaison Pearl GTL Qatar à 3,34 milliards $, le droit de production NNPC nigérian à 3,80 milliards $ (80,3 mboe en nature) et le droit de production Ormen Lange Norvège à 2,08 milliards $.

Le rapport, préparé selon les réglementations du Royaume-Uni et de l’UE, satisfait aux règles de transparence SEC §13(q) et FCA, et est disponible via le mécanisme national de stockage de la FCA ainsi que sur le site de Shell. Aucune donnée sur les bénéfices, réserves ou prévisions n’est fournie ; l’intérêt principal du dépôt est la transparence réglementaire et un indicateur potentiel de l’exposition fiscale à travers différentes juridictions.

Shell plc’s 2024 Form SD (Regel 13q-1) legt aggregierte Zahlungen an Regierungen für extraktive Tätigkeiten in Höhe von 28,10 Milliarden US-Dollar offen.

  • Produktionsansprüche 11,39 Mrd. $ (40%)
  • Steuern 10,46 Mrd. $ (37%)
  • Lizenzgebühren 4,32 Mrd. $ (15%)
  • Gebühren 1,91 Mrd. $
  • Bonuszahlungen 13 Mio. $
  • Infrastrukturverbesserungen 1,1 Mio. $

Größte Empfängerländer: Nigeria 5,34 Mrd. $, Oman 4,59 Mrd. $, Brasilien 3,70 Mrd. $, Norwegen 3,38 Mrd. $, Katar 3,34 Mrd. $, Malaysia 3,12 Mrd. $. Wichtige Einzelposten sind die Steuer für Block 6 Oman mit 3,95 Mrd. $, die Kombination Pearl GTL Katar mit 3,34 Mrd. $, die Produktionsansprüche der nigerianischen NNPC mit 3,80 Mrd. $ (80,3 mboe in natura) und die Produktionsansprüche Ormen Lange Norwegen mit 2,08 Mrd. $.

Der Bericht, erstellt gemäß britischen und EU-Vorschriften, erfüllt die SEC §13(q)- und FCA-Transparenzanforderungen und ist über den National Storage Mechanism der FCA sowie die Website von Shell verfügbar. Es werden keine Daten zu Gewinnen, Reserven oder Prognosen bereitgestellt; die Bedeutung der Einreichung liegt hauptsächlich in der regulatorischen Transparenz und als potenzieller Indikator für fiskalische Risiken in verschiedenen Gerichtsbarkeiten.

Positive
  • Enhanced transparency through detailed, project-level payment disclosure across 30 jurisdictions.
  • Regulatory compliance with SEC §13(q), UK FCA and EU directives supports Shell’s ESG positioning.
Negative
  • Concentrated fiscal exposure: five countries account for roughly half of all payments, heightening sovereign and policy risk.
  • Large cash outflows ($28 bn) underscore high government take, potentially pressuring net margins.

Insights

TL;DR: Neutral; offers transparency but limited valuation insight.

The $28 bn government-take confirms wide geographic spread and heavy fiscal burdens typical for super-majors. Nigeria, Oman and Brazil alone absorb 49% of the total, underscoring concentration risk in high-take regimes. In-kind transfers of >200 mboe highlight exposure to commodity-price swings even in tax settlements. However, because payments are largely a function of revenue/production already recognised in financials, the disclosure adds little incremental information for valuation. Investors may monitor trends YoY (not supplied here) to gauge shifting mix between taxes and royalties.

TL;DR: Positive transparency; meets evolving ESG disclosure demands.

Form SD fulfills mandatory transparency rules and aligns with EITI principles, demonstrating Shell’s willingness to publicly quantify government interactions. Detailed project-level data—especially for sensitive regions such as Nigeria and Brazil—will aid civil-society oversight and reduce corruption-related reputational risk. The filing strengthens Shell’s ESG scorecard but carries no direct operational catalysts.

Il modulo 2024 Form SD (Regola 13q-1) di Shell plc rivela pagamenti complessivi per 28,10 miliardi di dollari ai governi per attività estrattive.

  • Diritti di produzione 11,39 mld $ (40%)
  • Tasse 10,46 mld $ (37%)
  • Royalties 4,32 mld $ (15%)
  • Commissioni 1,91 mld $
  • Bonus 13 mln $
  • Miglioramenti infrastrutturali 1,1 mln $

Principali paesi beneficiari: Nigeria 5,34 mld $, Oman 4,59 mld $, Brasile 3,70 mld $, Norvegia 3,38 mld $, Qatar 3,34 mld $, Malesia 3,12 mld $. Tra le voci principali: tassa Blocco 6 Oman 3,95 mld $, combinazione Pearl GTL Qatar 3,34 mld $, diritto di produzione NNPC Nigeria 3,80 mld $ (80,3 mboe in natura) e diritto di produzione Ormen Lange Norvegia 2,08 mld $.

Il rapporto, redatto secondo le normative UK e UE, rispetta le regole SEC §13(q) e FCA sulla trasparenza ed è disponibile tramite il National Storage Mechanism della FCA e il sito di Shell. Non sono forniti dati su utili, riserve o previsioni; la rilevanza del documento è soprattutto normativa e come possibile indicatore dell’esposizione fiscale nei diversi paesi.

El Formulario SD 2024 (Regla 13q-1) de Shell plc revela pagos agregados a gobiernos por actividades extractivas por 28,10 mil millones de dólares.

  • Derechos de producción 11,39 mil millones $ (40%)
  • Impuestos 10,46 mil millones $ (37%)
  • Regalías 4,32 mil millones $ (15%)
  • Cuotas 1,91 mil millones $
  • Bonos 13 millones $
  • Mejoras de infraestructura 1,1 millones $

Principales países receptores: Nigeria 5,34 mil millones $, Omán 4,59 mil millones $, Brasil 3,70 mil millones $, Noruega 3,38 mil millones $, Catar 3,34 mil millones $, Malasia 3,12 mil millones $. Entre los ítems destacados: impuesto Bloque 6 Omán 3,95 mil millones $, combinación Pearl GTL Catar 3,34 mil millones $, derecho de producción NNPC Nigeria 3,80 mil millones $ (80,3 mboe en especie) y derecho de producción Ormen Lange Noruega 2,08 mil millones $.

El informe, elaborado bajo regulaciones del Reino Unido y la UE, cumple con la norma SEC §13(q) y las reglas de transparencia de la FCA, y está disponible a través del Mecanismo Nacional de Almacenamiento de la FCA y el sitio web de Shell. No se proporcionan datos sobre ganancias, reservas o pronósticos; la importancia del informe es principalmente regulatoria y como posible indicador de la exposición fiscal en distintas jurisdicciones.

Shell plc의 2024년 Form SD (규칙 13q-1)는 추출 활동에 대한 정부에 대한 총 지불액이 281억 달러임을 공개합니다.

  • 생산 권리 113억 9천만 달러 (40%)
  • 세금 104억 6천만 달러 (37%)
  • 로열티 43억 2천만 달러 (15%)
  • 수수료 19억 1천만 달러
  • 보너스 1,300만 달러
  • 인프라 개선 110만 달러

주요 수취국: 나이지리아 53억 4천만 달러, 오만 45억 9천만 달러, 브라질 37억 달러, 노르웨이 33억 8천만 달러, 카타르 33억 4천만 달러, 말레이시아 31억 2천만 달러. 주요 단일 항목으로는 오만 블록 6 세금 39억 5천만 달러, 카타르 펄 GTL 조합 33억 4천만 달러, 나이지리아 NNPC 생산 권리 38억 달러(80.3 mboe 현물), 노르웨이 오르멘 랑게 생산 권리 20억 8천만 달러가 포함됩니다.

이 보고서는 영국 및 EU 규정에 따라 작성되었으며, SEC §13(q) 및 FCA 투명성 규정을 충족하며 FCA의 국가 저장 메커니즘과 Shell 웹사이트를 통해 제공됩니다. 수익, 준비금 또는 전망 데이터는 제공되지 않으며, 이 제출 서류의 주요 목적은 규제 투명성 및 관할 구역별 재정 노출의 잠재적 지표입니다.

Le formulaire SD 2024 de Shell plc (Règle 13q-1) révèle des paiements agrégés aux gouvernements pour des activités extractives s’élevant à 28,10 milliards de dollars.

  • Droits de production 11,39 milliards $ (40%)
  • Impôts 10,46 milliards $ (37%)
  • Redevances 4,32 milliards $ (15%)
  • Frais 1,91 milliard $
  • Primes 13 millions $
  • Améliorations d’infrastructure 1,1 million $

Principaux pays bénéficiaires : Nigeria 5,34 milliards $, Oman 4,59 milliards $, Brésil 3,70 milliards $, Norvège 3,38 milliards $, Qatar 3,34 milliards $, Malaisie 3,12 milliards $. Les principaux postes uniques incluent la taxe du Bloc 6 Oman à 3,95 milliards $, la combinaison Pearl GTL Qatar à 3,34 milliards $, le droit de production NNPC nigérian à 3,80 milliards $ (80,3 mboe en nature) et le droit de production Ormen Lange Norvège à 2,08 milliards $.

Le rapport, préparé selon les réglementations du Royaume-Uni et de l’UE, satisfait aux règles de transparence SEC §13(q) et FCA, et est disponible via le mécanisme national de stockage de la FCA ainsi que sur le site de Shell. Aucune donnée sur les bénéfices, réserves ou prévisions n’est fournie ; l’intérêt principal du dépôt est la transparence réglementaire et un indicateur potentiel de l’exposition fiscale à travers différentes juridictions.

Shell plc’s 2024 Form SD (Regel 13q-1) legt aggregierte Zahlungen an Regierungen für extraktive Tätigkeiten in Höhe von 28,10 Milliarden US-Dollar offen.

  • Produktionsansprüche 11,39 Mrd. $ (40%)
  • Steuern 10,46 Mrd. $ (37%)
  • Lizenzgebühren 4,32 Mrd. $ (15%)
  • Gebühren 1,91 Mrd. $
  • Bonuszahlungen 13 Mio. $
  • Infrastrukturverbesserungen 1,1 Mio. $

Größte Empfängerländer: Nigeria 5,34 Mrd. $, Oman 4,59 Mrd. $, Brasilien 3,70 Mrd. $, Norwegen 3,38 Mrd. $, Katar 3,34 Mrd. $, Malaysia 3,12 Mrd. $. Wichtige Einzelposten sind die Steuer für Block 6 Oman mit 3,95 Mrd. $, die Kombination Pearl GTL Katar mit 3,34 Mrd. $, die Produktionsansprüche der nigerianischen NNPC mit 3,80 Mrd. $ (80,3 mboe in natura) und die Produktionsansprüche Ormen Lange Norwegen mit 2,08 Mrd. $.

Der Bericht, erstellt gemäß britischen und EU-Vorschriften, erfüllt die SEC §13(q)- und FCA-Transparenzanforderungen und ist über den National Storage Mechanism der FCA sowie die Website von Shell verfügbar. Es werden keine Daten zu Gewinnen, Reserven oder Prognosen bereitgestellt; die Bedeutung der Einreichung liegt hauptsächlich in der regulatorischen Transparenz und als potenzieller Indikator für fiskalische Risiken in verschiedenen Gerichtsbarkeiten.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

FORM SD

Specialized Disclosure Report

 


 

Shell plc

(Exact name of registrant as specified in its charter)

 


 

England and Wales

(State or other jurisdiction of incorporation or organization)

 

1-32575

(Commission File Number)

 

Shell Centre, London, SE1 7NA, United Kingdom

(Address of principal executive offices) (Zip Code)

 

Sean Ashley, Company Secretary

Tel No: 0044-20-7934-1234

(Name and telephone number, including area code, of the person to contact in connection with this report.)

 


 

Check the appropriate box to indicate the rule pursuant to which this form is being filed:

 

Rule 13p-1 under the Securities Exchange Act (17 CFR 240.13p-1) for the reporting period from January 1 to December 31, 2024.
   
Rule 13q-1 under the Securities Exchange Act (17 CFR 240.13q-1) for the fiscal year ended December 31, 2024.

 

 

 

Section 2 Resource Extraction Issuer Disclosure

 

Item 2.01        Resource Extraction Issuer Disclosure and Report

 

Shell plc (the registrant) is relying on the alternative reporting provision of Item 2.01(c).

 

The attached Report on Payments to Governments provides a consolidated overview of the payments to governments made by Shell plc and its subsidiary undertakings. The report was prepared in accordance with the UK’s Reports on Payments to Governments Regulations 2014 (as amended in December 2015).

 

The Report on Payments to Governments for the year 2024 was submitted to the Financial Conduct Authority National Storage Mechanism and is available for inspection at data.fca.org.uk/#/nsm/nationalstoragemechanism. It is also available on the Shell website at https://www.shell.com/sustainability/our-approach/tax-transparency/payments-to-governments.html.

 

The payment disclosure required by Form SD is included as Exhibit 2.01 to this Form SD.

 

Section 3 Exhibits

 

Item 3.01.        Exhibits

 

The following exhibit is submitted as part of this report.

 

Exhibit 2.01 – Shell plc Report on Payments to Governments for the year 2024.

 

 

 

 

SIGNATURES

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the duly authorized undersigned.

 

Shell plc                     

(Registrant)

 

/s/ Sinead Gorman July 24, 2025
Name: Sinead Gorman (Date)
Title:   Chief Financial Officer  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 2.01

 

shell_01.jpg

 

 

 

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.

 

 

 

2               Shell Report on Payments to Governments for the year 2024

 

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.

 

 

 

 

3               Shell Report on Payments to Governments for the year 2024

 

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.

 

4               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

5               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

 

6               Shell Report on Payments to Governments for the year 2024

 

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 2-3 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.

 

 

7               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

8               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

 

9               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

 

10               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

 

11               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

12               Shell Report on Payments to Governments for the year 2024

 

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 2-3 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.

 

 

13               Shell Report on Payments to Governments for the year 2024

 

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 2-3 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.

 

 

14               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

15               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

16               Shell Report on Payments to Governments for the year 2024

 

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  

 

 

[1]

For the definitions of any terms used in this chart (e.g. activities and payment types), please refer to pages 2-3 of this Report.

 

 

17               Shell Report on Payments to Governments for the year 2024

 

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 2-3 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.

 

 

18               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

19               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

 

 

 

 

 

20               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

[A]

Includes payment in kind of $2,140,627 for 37 kboe valuated at market price.

 

 

21               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

22               Shell Report on Payments to Governments for the year 2024

 

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 1-3 of the Report.

 

 

 

23               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

24               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

[A]

Includes payment in kind of $53,082,051 for 785 kboe valuated at market price.

 

 

25               Shell Report on Payments to Governments for the year 2024

 

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 2-3 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.

 

 

26               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

27               Shell Report on Payments to Governments for the year 2024

 

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 2-3 of this Report.

 

 

28               Shell Report on Payments to Governments for the year 2024

 

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.

 

 

 

 

 

 

 

 

 

29               Shell Report on Payments to Governments for the year 2024

 

shell_02.jpg
 

 

 
 

FAQ

How much did Shell (SHEL) pay governments in 2024?

Shell reported $28.10 billion in total payments to governments for extractive activities.

Which countries received the largest payments from Shell?

Nigeria $5.34 bn, Oman $4.59 bn, Brazil $3.70 bn, Norway $3.38 bn, and Qatar $3.34 bn were the top five recipients.

What proportion of payments were production entitlements versus taxes?

Production entitlements were $11.39 bn (40%) and taxes were $10.46 bn (37%) of the total.

Where can I find Shell’s full Report on Payments to Governments?

The report is available on the FCA National Storage Mechanism and on Shell’s website at shell.com/payments.

Does the filing include earnings or production guidance?

No. Form SD is purely a disclosure of government payments and contains no earnings, reserve or guidance data.
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