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Shell plc – Report on Payments to Governments for the year 2023

Shell plc – Report on Payments to Governments for the year 2023

Basis for Preparation – Report on Payments to Governments for the year 2023
This Report provides a consolidated overview of the payments to governments made by Shell plc and its subsidiaries undertakings (hereinafter referred to as “Shell”) for the year 2023 as required under the UK’s Report 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 subsidiaries undertakings (Shell). Payments made by entities where Shell has joint control do not form the scope of 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 will not be 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 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, 2023, 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.

License fees, rental fees, entry fees and other considerations for licenses 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 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]

Government Reports (in USD)
Countries: Production Entitlements Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Europe              
Germany         –         82,865,836         –         –         –         –         82,865,836
Italy         –         124,462,214         103,701,724         –         83,370,761         –         311,534,699
Norway         2,056,539,150         1,761,137,182         –         –         -2,015,300         –         3,815,661,032
United Kingdom         –         445,794,129         –         –         9,357,525         –         455,151,654
Asia              
Brunei Darussalam         3,842,049         73,685,646         8,352,280         –         –         –         85,879,975
India         –         -14,990,868         –         –         –         –         -14,990,868
Kazakhstan         –         208,412,179         –         –         –         –         208,412,179
Malaysia         2,756,801,167         363,608,996         543,358,866         –         –         –         3,663,769,029
Middle East              
Oman         503,863,549         3,587,243,932         –         –         800,000         –         4,091,907,481
Qatar         1,996,846,875         1,735,524,464         –         –         29,806,461         –         3,762,177,800
Oceania              
Australia         –         1,399,536,784         505,563,062         –         13,937,901         255,455         1,919,293,202
Africa              
Egypt         –         57,067,436         –         1,692,706         –         –         58,760,142
Mauritania         –         –         –         1,500,000         –         –         1,500,000
Nigeria         3,467,712,631         587,644,761         727,850,830         –         146,099,334         –         4,929,307,556
Somalia         –         –         –         –         915,000         –         915,000
Tanzania         –         –         –         –         207,273         –         207,273
Tunisia         –         9,184,700         5,168,442         –         –         –         14,353,142
North America              
Canada         –         306,623,010         45,496,962         –         36,213,734         –         388,333,706
Mexico         –         –         –         –         63,635,480         –         63,635,480
United States         –         12,406,378         1,214,008,510         –         36,672,082         –         1,263,086,970
South America              
Argentina         –         –         102,446,535         –         1,083,019         –         103,529,554
Bolivia         –         –         –         –         528,534         –         528,534
Brazil         195,531,788         528,769,030         1,200,661,424         25,354,087         1,809,352,157         –         3,759,668,486
Colombia         –         –         –         –         367,220         –         367,220
Suriname         –         –         –         18,600,000         –         –         18,600,000
Trinidad and Tobago         504,952,691         9,643,946         5,160,601         –         12,629,218         –         532,386,456
Total         11,486,089,900         11,278,619,755         4,461,769,236         47,146,793         2,242,960,399         255,455         29,516,841,538
  1. This report is not corrected for rounding.

Germany

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
CITY OF DINSLAKEN         –         1,122,046         –         –         –         –         1,122,046
CITY OF WUERZBURG         –         112,029         –         –         –         –         112,029
CITY OF GELSENKIRCHEN         –         1,382,536         –         –         –         –         1,382,536
CITY OF WESSELING         –         11,294,830         –         –         –         –         11,294,830
CITY OF FLOERSHEIM         –         277,361         –         –         –         –         277,361
CITY OF LUDWIGSHAFEN         –         214,435         –         –         –         –         214,435
CITY OF COLOGNE         –         7,864,094         –         –         –         –         7,864,094
TAX AUTHORITY HAMBURG         –         60,598,505         –         –         –         –         60,598,505
Total                  82,865,836                                             82,865,836
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
DEUTSCHE SHELL HOLDING GmbH         –         82,865,836         –         –         –         –         82,865,836
Total                  82,865,836                                             82,865,836
  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.

Italy

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
BASILICATA REGION (VDA)         –         –         58,510,327         –         –         –         58,510,327
CALVELLO MUNICIPALITY         –         –         1,273,528         –         –         –         1,273,528
GRUMENTO NOVA MUNICIPALITY         –         –         727,730         –         –         –         727,730
MARSICO NUOVO MUNICIPALITY         –         –         545,798         –         –         –         545,798
VIGGIANO MUNICIPALITY         –         –         5,048,629         –         2,893,788         –         7,942,417
TESSORERIA PROVINICIALE DELLO STATO         –         124,462,214         29,501,006         –         714,085         –         154,677,305
REGIONE BASILICATA         –         –         5,365,039         –         79,762,888         –         85,127,927
COMUNE DI GORGOGLIONE         –         –         315,440         –         –         –         315,440
COMUNE DI CORLETO PERTICARA         –         –         2,050,361         –         –         –         2,050,361
MARSICOVETERE MUNICIPALITY         –         –         181,933         –         –         –         181,933
MONTEMURRO MUNICIPALITY         –         –         181,933         –         –         –         181,933
Total                  124,462,214         103,701,724                  83,370,761                  311,534,699
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
ITALY UPSTREAM ASSET         –         124,462,214         103,701,724         –         83,370,761         –         311,534,699
Total                  124,462,214         103,701,724                  83,370,761                  311,534,699
  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.

Norway

Government Reports (in USD) [1]
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:                
OLJEDIREKTORATET         –           –         –         –         -2,015,300         –         -2,015,300
PETORO AS         1,213,530,457 [A]         –         –         –         –         –         1,213,530,457
SKATTE OG AVGIFTSREGNSKAP         –           1,761,137,182         –         –         –         –         1,761,137,182
EQUINOR ASA         843,008,693 [B]         –         –         –         –         –         843,008,693
Total         2,056,539,150           1,761,137,182                   – 2 015 300                  3,815,661,032
                 
Project Reports (in USD)
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:                
ORMEN LANGE         2,056,539,150 [C]         –         –         –         -3,250,590         –         2,053,288,560
NORWAY EXPLORATION PROJECTS         —           –         –         –         1,011,830         –         1,011,830
Entity level payment:                
A/S NORSKE SHELL         —           1,761,137,182         –         –         223,460         –         1,761,360,642
Total         2,056,539,150           1,761,137,182                   – 2 015 300                  3,815,661,032
  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.
  2. Includes payment in kind of $1,213,530,457 for 15,705 KBOE valuated at market price.
  3. Includes payment in kind of $843,008,693 for 10,910 KBOE valuated at market price.
  4. Includes payment in kind of $2,056,539,150 for 26,615 KBOE valuated at market price

United Kingdom

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
HM REVENUE AND CUSTOMS         –         445,794,129         –         –         –         –         445,794,129
NORTH SEA TRANSITION AUTHORITY         –         –         –         –         9,224,083         –         9,224,083
THE CROWN ESTATE SCOTLAND         –         –         –         –         133,442         –         133,442
Total                  445,794,129                           9,357,525                  455,151,654
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
BRENT AND OTHER NORTHERN NORTH SEA PROJECTS         –         -43,370,657         –         –         501,950         –         -42,868,707
ONEGAS WEST         –         –         –         –         2,845,153         –         2,845,153
UK EXPLORATIONS PROJECTS         –         –         –         –         794,101         –         794,101
UK OFFSHORE OPERATED         –         –         –         –         1,142,139         –         1,142,139
UK OFFSHORE NON-OPERATED         –         –         –         –         231,747         –         231,747
WEST OF SHETLAND NON-OPERATED         –         –         –         –         381,619         –         381,619
Entity level payment:              
SHELL U.K. LIMITED         –         489,164,786         –         –         3,460,816         –         492,625,602
Total                  445,794,129                           9,357,525                  455,151,654
  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.

Brunei Darussalam

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
MINISTRY OF FINANCE AND ECONOMY         –         73,685,646         –         –         –         –         73,685,646
PETROLEUM AUTHORITY OF BRUNEI         3,842,049         –         8,352,280         –         –         –         12,194,329
Total         3,842,049         73,685,646         8,352,280                                    85,879,975
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
SHELL DEEPWATER BORNEO LIMITED         –         55,794,941         –         –         –         –         55,794,941
SHELL EXPLORATION AND PRODUCTION BRUNEI BV         3,842,049         17,890,705         8,352,280         –         –         –         30,085,034
Total         3,842,049         73,685,646         8,352,280                                    85,879,975
  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.

India

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
INCOME TAX DEPARTMENT         –         -14,990,868         –         –         –         –         -14,990,868
Total                  -14,990,868                                             -14,990,868
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
BG EXPLORATION AND PRODUCTION INDIA LIMITED         –         -14,990,868         –         –         –         –         -14,990,868
Total                  -14,990,868                                             -14,990,868
  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.

Kazakhstan

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
WEST KAZAKHSTAN TAX COMMITTEE         –         208,412,179         –         –         –         –         208,412,179
Total                  208,412,179                                             208,412,179
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
KARACHAGANAK         –         208,412,179         –         –         –         –         208,412,179
Total                  208,412,179                                             208,412,179
  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.

Malaysia

Government Reports (in USD) [1]
  Production Entitlement   Taxes Royalties   Bonuses Fees Infrastructure Improvements Total
Governments:                  
PETROLIAM NASIONAL BERHAD         1,291,094,317 [A]         –         24,760,706           –         –         –         1,315,855,023
PETRONAS CARIGALI SDN BHD (KL)         1,030,571,625 [B]         –         –           –         –         –         1,030,571,625
MALAYSIA FEDERAL AND STATE GOVERNMENT         –           –         518,598,160 [C]         –         –         –         518,598,160
KETUA PENGARAH LHDNM         –           362,675,180         –           –         –         –         362,675,180
PETROLEUM SARAWAK EXPLORATION AND PRODUCTION SDN BHD         80,602,291 [D]         –         –           –         –         –         80,602,291
BRUNEI NATIONAL PETROLEUM COMPANY         354,532,934 [E]         –         –           –         –         –         354,532,934
PETRONAS CARIGALI SDN BHD (MIRI)         –           933,816         –           –         –         –         933,816
Total         2,756,801,167           363,608,996         543,358,866                                      3,663,769,029
                   
Project Reports (in USD)
  Production Entitlement   Taxes Royalties   Bonuses Fees Infrastructure Improvements Total
Projects:                  
SABAH GAS – NOT OPERATED         –           28,616,146         1,412,148           –         –         –         30,028,294
SABAH INBOARD AND DEEPWATER OIL         1,807,106,962 [F]         233,145,621         354,365,330 [G]         –         –         –         2,394,617,913
SARAWAK OIL AND GAS         949,694,205 [H]         88,945,058         187,581,388 [I]         –         –         –         1,226,220,651
Entity level payment:                  
SABAH SHELL PETROLEUM COMPANY LIMITED         –           2,664,721         –           –         –         –         2,664,721
SARAWAK SHELL BERHAD         –           3,512,754         –           –         –         –         3,512,754
SHELL ENERGY ASIA LIMITED         –           2,438,862         –           –         –         –         2,438,862
SHELL OIL & GAS (MALAYSIA) LLC         –           608,917         –           –         –         –         608,917
SHELL SABAH SELATAN SDN. BHD.         –           3,676,917         –           –         –         –         3,676,917
Total         2,756,801,167           363,608,996         543,358,866                                      3,663,769,029
  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.
  2. Includes payment in kind of $241,287,179 for 11,653 KBOE valuated at fixed price and $1,051,600,094 for 11,619 KBOE valuated at market price.
  3. Includes payment in kind of $332,028,595 for 16,160 KBOE valuated at fixed price and $698,543,029 for 7,825 KBOE valuated at market price.
  4. Includes payment in kind of $119,689,443 for 5,754 KBOE valuated at fixed price and $398,908,717 for 4,431 KBOE valuated at market price.
  5. Includes payment in kind of $67,478,994 for 3,110 KBOE valuated at fixed price and $ 13,123,297 for 182 KBOE valuated at market price.
  6. Includes payment in kind of $354,532,934 for 3,852 KBOE valuated at market price.
  7. Includes payment in kind of $1,807,106,961 for 19,489 KBOE valuated at market price.
  8. Includes payment in kind of $349,431,732 for 3,796 KBOE valuated at market price.
  9. Includes payment in kind of $640,794,767 for 30,923 KBOE valuated at fixed price and $310,692,393 for 3,988 KBOE valuated at market price.
  10. Includes payment in kind of $ 119,689,443 for 5,754 KBOE valuated at fixed price and $ 49,476,985 for 635 KBOE valuated at market price.

Oman

Government Reports (in USD) [1]
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:                
OMAN – MINISTRY OF FINANCE         –           3,587,243,932         –         –         800,000         –         3,588,043,932
MINISTRY OF ENERGY AND MINERALS         503,863,549 [A]         –         –         –         –         –         503,863,549
Total         503,863,549           3,587,243,932                           800,000                  4,091,907,481
                 
Project Reports (in USD)
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:                
BLOCK 6 CONCESSION         –           3,587,243,932         –         –         –         –         3,587,243,932
BLOCK 10 CONCESSION         503,863,549 [B]         –         –         –         150,000         –         504,013,549
BLOCK 11 CONCESSION         –           –         –         –         250,000         –         250,000
BLOCK 42 CONCESSION         –           –         –         –         150,000         –         150,000
BLOCK 55 CONCESSION         –           –         –         –         250,000         –         250,000
Total         503,863,549           3,587,243,932                           800,000                  4,091,907,481
  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.
  2. Includes payment in kind of $57,676,933 for 4,397 KBOE valuated at fixed price and $446,186,616 for 5,420 KBOE valuated at Govt. selling price.
  3. Includes payment in kind of $57,676,933 for 4,397 KBOE valuated at fixed price and $446,186,616 for 5,420 KBOE valuated at Govt. selling price.

Qatar

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
QATAR ENERGY         1,996,846,875         1,735,524,464         –         –         29,806,461         –         3,762,177,800
Total         1,996,846,875         1,735,524,464                           29,806,461                  3,762,177,800
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
PEARL GTL         1,996,846,875         1,735,524,464         –         –         29,806,461         –         3,762,177,800
Total         1,996,846,875         1,735,524,464                           29,806,461                  3,762,177,800
  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.

Australia

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
AUSTRALIAN TAXATION OFFICE         –         1,399,536,784         –         –         –         –         1,399,536,784
BANANA SHIRE COUNCIL         –         –         –         –         197,604         –         197,604
DEPARTMENT OF INDUSTRY         –         –         161,424,179         –         107,018         –         161,531,197
DEPARTMENT OF ENVIRONMENT AND SCIENCE         –         –         –         –         1,154,172         –         1,154,172
WESTERN DOWNS REGIONAL COUNCIL         –         –         –         –         10,401,841         255,455         10,657,296
OFFICE OF STATE REVENUE         –         –         344,138,883         –         –         –         344,138,883
DEPARTMENT OF NATURAL RESOURCES AND MINES         –         –         –         –         552,059         –         552,059
RESOURCES SAFETY AND HEALTH         –         –         –         –         1,525,207         –         1,525,207
Total                  1,399,536,784         505,563,062                  13,937,901         255,455         1,919,293,202
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
NORTH WEST SHELF         –         –         161,424,179         –         –         –         161,424,179
QGC PROJECT         –         77,937,697         344,138,883         –         13,830,883         255,455         436,162,918
PRELUDE         –         –         –         –         107,018         –         107,018
Entity level payment:              
SHELL AUSTRALIA PTY LTD         –         1,321,599,087         –         –         –         –         1,321,599,087
Total                  1,399,536,784         505,563,062                  13,937,901         255,455         1,919,293,202
  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.

Egypt

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
EGYPTIAN GENERAL PETROLEUM CORPORATION         –         57,067,436         –         1,250,646         –         –         58,318,082
GANOUB EL WADI PETROLEUM HOLDING         –         –         –         442,060         –         –         442,060
Total         –         57,067,436         –         1,692,706         –         –         58,760,142
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
EGYPT OFFSHORE EXPLORATION         –         –         –         442,060         –         –         442,060
Entity level payment:              
BG DELTA LIMITED – EGYPT BRANCH         –         54,554,015         –         –         –         –         54,554,015
BG ROSETTA LIMITED         –         2,513,421         –         –         –         –         2,513,421
SHELL EGYPT N.V.         –         –         –         1,250,646         –         –         1,250,646
Total                  57,067,436                  1,692,706                           58,760,142
  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.

Mauritania

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
MINISTRY OF PETROLEUM, ENERGY AND MINES         –         –         –         1,500,000         –         –         1,500,000
Total                                    1,500,000                           1,500,000
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
DW MAURITANIA EXPLORATION         –         –         –         1,500,000         –         –         1,500,000
Total                                    1,500,000                           1,500,000
  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.

Nigeria

Government Reports (in USD) [1]
  Production Entitlement   Taxes   Royalties   Bonuses Fees Infrastructure Improvements Total
Governments:                    
NIGER DELTA DEVELOPMENT COMMISSION         –           –           –           –         139,994,044         –         139,994,044
NIGERIAN NATIONAL PETROLEUM CORPORATION         3,467,712,631 [A]         –           –           –         –         –         3,467,712,631
NIGERIAN UPSTREAM PETROLEUM REGULATORY COMMISSION         –           –           727,850,830 [B]         –         1,732,350         –         729,583,180
FEDERAL INLAND REVENUE SERVICE         –           587,644,761 [C]         –           –         –         –         587,644,761
NATIONAL AGENCY FOR SCIENCE AND ENGINEERING INFRASTRUCTURE         –           –           –           –         4,287,050         –         4,287,050
NIGERIA POLICE TRUST FUND         –           –           –           –         85,890         –         85,890
Total         3,467,712,631           587,644,761           727,850,830                    146,099,334                  4,929,307,556
                     
Project Reports (in USD)
  Production Entitlement   Taxes   Royalties   Bonuses Fees Infrastructure Improvements Total
Projects:                    
PSC 1993 (OPL212/OML118, OPL219/OML135)         752,858,858 [D]         279,780,569 [E]         453,852,738 [F]         –         30,450,830         –         1,516,942,995
PSC 1993 (OML133)         –           157,121,109 [G]         —           –         –         –         157,121,109
EAST ASSET         864,363,603 [H]         —           —           –         –         –         864,363,603
WEST ASSET         1,850,490,170 [I]         —           —           –         –         –         1,850,490,170
Entity level payment:                    
THE SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA LIMITED         –           150,743,083           273,998,092           –         115,648,504         –         540,389,679
Total         3,467,712,631           587,644,761           727,850,830                    146,099,334                  4,929,307,556
  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.
  2. Includes payment in kind of $3,467,712,631 for 66,284 KBOE valuated at market price.
  3. Includes payment in kind of $453,852,738 for 5,323 KBOE valuated at market price.
  4. Includes payment in kind of $436,901,678 for 5,114 KBOE valuated at market price.
  5. Includes payment in kind of $752,858,858 for 8,857 KBOE valuated at market price.
  6. Includes payment in kind of $279,780,569 for 3,267 KBOE valuated at market price.
  7. Includes payment in kind of $453,852,738 for 5,323 KBOE valuated at market price.
  8. Includes payment in kind of $157,121,109 for 1,847 KBOE valuated at market price.
  9. Includes payment in kind of $864,363,603 for 35,379 KBOE valuated at market price.
  10. Includes payment in kind of $1,850,490,170 for 22,047 KBOE valuated at market price.

Somalia

  Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
MINISTRY OF PETROLEUM AND MINERAL RESOURCES         –         –         –         –         915,000         –         915,000
Total                                             915,000                  915,000
               
  Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
SOMALIA EXPLORATION         –         –         –         –         915,000         –         915,000
Total                                             915,000                  915,000
  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.

Tanzania

  Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
PETROLEUM UPSTREAM REGULATORY AUTHORITY         –         –         –         –         207,273         –         207,273
Total                                             207,273                  207,273
               
  Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
BLOCK 1 & 4         –         –         –         –         207,273         –         207,273
Total                                             207,273                  207,273
  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.

Tunisia

  Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties   Bonuses Fees Infrastructure Improvements Total
Governments:                
ENTERPRISE TUNISIENNE D’ACTIVITES PETROLIERES         –         –         1,923,800 [A]         –         –         –         1,923,800
MONSIEUR LE RECEVEUR DES FINANCES DU LAC         –         9,184,700         3,244,642           –         –         –         12,429,342
Total                  9,184,700         5,168,442                                      14,353,142
                 
  Project Reports (in USD)
  Production Entitlement Taxes Royalties   Bonuses Fees Infrastructure Improvements Total
Projects:                
HASDRUBAL CONCESSION         –         9,184,700         5,168,442 [B]         –         –         –         14,353,142
Total                  9,184,700         5,168,442                                      14,353,142
  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.
  2. Includes payment in kind of $1,923,800 for 36 KBOE valuated at market price.
  3. Includes payment in kind of $1,923,800 for 36 KBOE valuated at market price.

Canada

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
GOVERNMENT OF ALBERTA         –         –         1,884,599         –         34,918,629         –         36,803,228
PROVINCIAL TREASURER OF ALBERTA         –         105,295,402         –         –         –         –         105,295,402
RECEIVER GENERAL FOR CANADA         –         201,327,608         -141,945         –         –         –         201,185,663
MINISTRY OF EMPLOYMENT AND INVESTMENT         –         –         –         –         600,076         –         600,076
MINISTER OF FINANCE (BC)         –         –         43,754,308         –         695,029         –         44,449,337
Total                  306,623,010         45,496,962                  36,213,734                  388,333,706
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
ATHABASCA OIL SANDS         –         306,623,010         –         –         –         –         306,623,010
FOOTHILLS         –         –         –         –         118,371         –         118,371
GREATER DEEP BASIN         –         –         1,884,599         –         33,737,939         –         35,622,538
GROUNDBIRCH         –         –         43,754,308         –         1,295,105         –         45,049,413
SABLE DEEPWATER         –         –         -141,945         –         –         –         -141,945
Entity level payment:              
SHELL CANADA ENERGY         –         –         –         –         1,062,319         –         1,062,319
Total                  306,623,010         45,496,962                  36,213,734                  388,333,706
  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.

Mexico

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
FONDO MEXICANO DEL PETROLEO PARA LA ESTABILIZACION Y EL DESARROLLO         –         –         –         –         36,692,167         –         36,692,167
SERVICIO DE ADMINISTRACION         –         –         –         –         26,943,313         –         26,943,313
Total                                             63,635,480                  63,635,480
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
SHELL EXPLORACIÓN Y EXTRACCIÓN DE MÉXICO, S.A. DE C.V.         –         –         –         –         63,635,480         –         63,635,480
Total                                             63,635,480                  63,635,480
  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.

United States

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
INTERNAL REVENUE SERVICE         –         13,500,000         –         –         –         –         13,500,000
STATE OF LOUISIANA         –         -1,093,622         –         –         –         –         -1,093,622
STATE OF ALASKA DEPT. OF NATURAL RESOURCES         –         –         –         –         243,408         –         243,408
OFFICE OF NATURAL RESOURCES REVENUE         –         –         1,214,008,510         –         36,428,674         –         1,250,437,184
Total                  12,406,378         1,214,008,510                  36,672,082                  1,263,086,970
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
ALASKA EXPLORATION         –         –         –         –         243,408         –         243,408
GOM (WEST)         –         –         135,958,686         –         312,440         –         136,271,126
GOM (CENTRAL)         –         –         1,078,049,824         –         521,436         –         1,078,571,260
GOM EXPLORATION         –         –         –         –         35,594,798         –         35,594,798
Entity level payment:              
SHELL PETROLEUM INC.         –         13,500,000         –         –         –         –         13,500,000
SHELL EXPLORATION & PRODUCTION COMPANY         –         -1,093,622         –         –         –         –         -1,093,622
Total                  12,406,378         1,214,008,510                  36,672,082                  1,263,086,970
  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.

Argentina

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
PROVINCIA DE SALTA         –         –         3,590,412         –         –         –         3,590,412
PROVINCIA DEL NEUQUEN         –         –         98,856,123         –         1,083,019         –         99,939,142
Total                           102,446,535                  1,083,019                  103,529,554
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
ACAMBUCO         –         –         3,590,412         –         –         –         3,590,412
ARGENTINA UNCONVENTIONAL PROJECTS         –         –         98,856,123         –         1,083,019         –         99,939,142
Total                           102,446,535                  1,083,019                  103,529,554
  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.

Bolivia

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
NATIONAL OIL COMPANY OF BOLIVIA         –         –         –         –         528,534         –         528,534
Total                                             528,534                  528,534
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
HUACARETA         –         –         –         –         528,534         –         528,534
Total                                             528,534                  528,534
  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.

Brazil

Government Reports (in USD) [1]
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:                
MINISTERIO DA FAZENDA         –           –         1,200,661,424         –         1,809,033,081         –         3,009,694,505
PRÉ-SAL PETRÓLEO SA         195,531,788 [A]         –         –         –         –         –         195,531,788
SECRETARIA DA RECEITA FEDERAL DO BRASIL         –           528,769,030         –         –         –         –         528,769,030
AGENCIA NACIONAL DO PETROLEO GAS NATURAL E BIOCOMBUSTIVEIS         –           –         –         25,354,087         319,076         –         25,673,163
Total         195,531,788           528,769,030         1,200,661,424         25,354,087         1,809,352,157                  3,759,668,486
                 
Project Reports (in USD)
  Production Entitlement   Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:                
BC-10         –           –         28,591,236         –         1,172,147         –         29,763,383
BIJUPIRA AND SALEMA         –           –         –         –         469,766         –         469,766
BM-S-9, BM-S-9A, BM-S-11, BM-S-11A AND ENTORNO DE SAPINHOA         27,416,425 [B]         –         998,565,014         –         1,803,888,142         –         2,829,869,581
BASIN EXPLORATION PROJECTS         –           –         –         25,354,087         2,518,517         –         27,872,604
LIBRA PSC         168,115,363 [C]         –         173,505,174         –         –         –         341,620,537
Entity level payment:                
SHELL BRASIL PETROLEO LTDA         –           528,769,030         –         –         1,303,585         –         530,072,615
Total         195,531,788           528,769,030         1,200,661,424         25,354,087         1,809,352,157                  3,759,668,486
  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.
  2. Includes payment in kind of $195,531,788 for 2,591 KBOE valuated at market price.
  3. Includes payment in kind of $27,416,425 for 374 KBOE valuated at market price.
  4. Includes payment in kind of $168,115,363 for 2217 KBOE valuated at market price.

Colombia

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
AGENCIA NACIONAL DE HIDROCARBUROS         –         –         –         –         367,220         –         367,220
Total                                             367,220                  367,220
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
SHELL EP OFFSHORE VENTURES LIMITED SUCURSAL COLOMBIA         –         –         –         –         367,220         –         367,220
Total                                             367,220                  367,220
  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.

Suriname

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
STAATSOLIE MAATSCHAPPIJ         –         –         –         18,600,000         –         –         18,600,000
Total                                    18,600,000                           18,600,000
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Entity level payment:              
SURINAME EXPLORATION         –         –         –         18,600,000         –         –         18,600,000
Total                                    18,600,000                           18,600,000
  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.

Trinidad and Tobago

Government Reports (in USD) [1]
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Governments:              
BOARD OF INLAND REVENUE         –         9,643,946         –         –         –         –         9,643,946
MINISTRY OF ENERGY AND ENERGY AFFAIRS         504,952,691         –         5,160,601         –         12,629,218         –         522,742,510
Total         504,952,691         9,643,946         5,160,601                  12,629,218                  532,386,456
               
Project Reports (in USD)
  Production Entitlement Taxes Royalties Bonuses Fees Infrastructure Improvements Total
Projects:              
CENTRAL BLOCK         –         9,643,946         5,160,601         –         882,085         –         15,686,632
NORTH COAST MARINE AREA 1 (NCMA1)         104,165,663         –         –         –         2,140,203         –         106,305,866
EAST COAST MARINE AREA         158,639,550         –         –         –         1,986,939         –         160,626,489
TT EXPLORATION         –         –         –         –         1,451,788         –         1,451,788
TT DEEPWATER ATLANTIC AREA         –         –         –         –         886,700         –         886,700
Entity level payment:              
BG INTERNATIONAL LIMITED – TRINIDAD AND TOBAGO BRANCH         242,147,478         –         –         –         4,475,866         –         246,623,344
BG TRINIDAD AND TOBAGO LIMITED         –         –         –         –         805,637         –         805,637
Total         504,952,691         9,643,946         5,160,601                  12,629,218                  532,386,456
  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.

Cautionary note
The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this Report “Shell” and “Shell group” and “Group” are sometimes used for convenience where references are made to 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 term “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.

LEI number of Shell plc: 21380068P1DRHMJ8KU70
Classification: Payments to governments


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