SHELL PLC – REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2024

Core Insights - The report provides a consolidated overview of payments made by Shell plc and its subsidiaries to governments for the year 2024, in compliance with UK regulations and international directives [1][3][4]. Group 1: Legislation and Reporting Framework - The report is prepared in accordance with The Reports on Payments to Governments Regulations 2014, as amended in December 2015 [3]. - It is filed with the National Storage Mechanism and the US Securities and Exchange Commission to meet disclosure requirements [1]. Group 2: Payment Types and Definitions - Payments to governments include production entitlements, taxes, royalties, dividends, bonuses, and various fees related to extractive activities [9][12][13][14][15][16]. - Production entitlements represent the host government's share of production from Shell-operated projects, excluding those outside its home country [9]. - Taxes reported include income, profits, and production taxes, while consumption taxes and personal income taxes are excluded [12]. Group 3: Financial Summary - Total payments made by Shell to governments in 2024 amount to approximately $28.1 billion, broken down into various categories such as production entitlements ($11.4 billion), taxes ($10.5 billion), and royalties ($4.3 billion) [22]. - Notable payments include $5.3 billion to Nigeria, $3.3 billion to Qatar, and $3.1 billion to Malaysia, highlighting significant contributions in these regions [22]. Group 4: Regional Breakdown - In Europe, Shell made payments totaling approximately $3.5 billion, with Norway contributing the largest share at $3.4 billion [22]. - In Asia, Malaysia accounted for $3.1 billion, while Brunei and Kazakhstan also made significant contributions [22]. - The Americas saw substantial payments, with the USA contributing $1.3 billion and Brazil $3.7 billion [22].