Daily Tax Report ®

Shell Paid $22.6b to Govts Last Year With Highest in Nigeria

April 8, 2020, 9:42 AM

Shell paid $22.6b last year to countries where it has upstream operations, with the highest amount going to Nigeria, while tax credits in the U.K. mean it didn’t make any payments on a net basis.

  • Nigeria received more than $5.6b in taxes, royalties, production entitlement and fees from Shell, according to the company’s annual report on payments to governments
    • Majority of payments in Nigeria went to state-run NNPC
  • Shell received $116m in tax credits in the U.K., offsetting $6.5m of fees it paid
    • NOTE: The company is decommissioning Brent and other fields in the North Sea and costs related to...

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