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Note 13 - Joint ventures and associates

Shell share of comprehensive income of joint ventures and associates

 

 

 

 

 

 

 

 

 

$ million

 

2022

2021

2020

 

Joint
ventures

Associates

Total

Joint
ventures

Associates

Total

Joint
ventures

Associates

Total

Income for the period

2,589

1,383 [A]

3,972

1,955

2,142

4,097

629

1,154

1,783

Other comprehensive
income/(loss) for the period

21

21

(106)

(106)

76

1

77

Comprehensive income for the period

2,610

1,383

3,993

1,849

2,142

3,991

705

1,155

1,860

[A]

Includes an impairment charge of $1,614 million related to Sakhalin-2. (See Note 6)

Carrying amount of interests in joint ventures and associates

 

 

 

 

 

 

$ million

 

Dec 31, 2022

Dec 31, 2021

 

Joint ventures

Associates

Total

Joint ventures

Associates

Total

Net assets

17,056

6,808

23,864

15,767

7,648

23,415

Transactions with joint ventures and associates

 

 

 

$ million

 

2022 [A]

2021 [A]

2020

Sales and charges to joint ventures and associates

12,230

8,509

5,426

Purchases and charges from joint ventures and associates

22,286

13,584

8,262

[A]

Includes 29% (2021: 26%) of sales and 16% (2021: 16%) purchases in transactions with one joint venture operating in the oil trading business.

These transactions principally comprise sales and purchases of goods and services in the ordinary course of business. Related balances outstanding at December 31, 2022, and 2021, are presented in Notes 15 and 19.

Other arrangements in respect of joint ventures and associates

 

 

$ million

 

Dec 31, 2022

Dec 31, 2021

Commitments to make purchases from joint ventures and associates [A]

1,234

1,437

Commitments to provide debt or equity funding to joint ventures and associates

567

533

A]

Commitments to make purchases from joint ventures and associates mainly relate to contracts associated with LNG processing fees and transportation capacity. Shell has other purchase obligations related to joint ventures and associates that are not fixed or determinable and are principally intended to be resold in a short period of time through sales agreements with third parties. These include long-term LNG and natural gas purchase commitments and commitments to purchase refined products or crude oil at market prices. Shell has stopped all spot purchases of Russian crude, LNG, and of cargoes of refined product directly exported from Russia. (See Note 6).