Oil and gas exploration and production activities earnings

-1 Oil and gas exploration and production activities earnings Shell Investors’ Handbook 2014-2018

The results of operations for oil and gas producing activities are shown in the tables below. 

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Shell subsidiaries 2018

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Other[A]

Total

[A]

Comprises Canada, Honduras and Mexico.

Revenue

 

 

 

 

 

 

 

 

Third parties

1,875

3,364

1,389

2,401

2,165

507

1,023

12,724

Sales between businesses

6,705

11,284

4,683

3,586

7,716

1,946

7,154

43,074

Total

8,580

14,648

6,072

5,987

9,881

2,453

8,177

55,798

Production costs excluding taxes

2,262

2,143

1,073

1,093

2,573

1,069

1,401

11,614

Taxes other than income tax

122

841

199

328

83

–

2,767

4,340

Exploration

277

149

78

144

341

114

237

1,340

Depreciation, depletion and amortisation

2,684

2,301

1,571

1,394

4,543

(346)

3,271

15,418

Other costs/(income)

947

(180)

(514)

609

447

667

849

2,825

Earnings before taxation

2,288

9,394

3,665

2,419

1,894

949

(348)

20,261

Taxation charge/(credit)

2,047

4,851

893

902

550

236

1,162

10,641

Earnings after taxation

241

4,543

2,772

1,517

1,344

713

(1,510)

9,620

 

 

 

 

 

 

 

 

 

$/boe

Revenue

57.00

44.54

47.62

45.21

49.06

32.54

50.24

47.33

Production costs excluding taxes

15.03

6.52

8.41

8.25

12.78

0.85

8.61

9.85

Taxes other than income tax

0.81

2.56

1.56

2.48

0.41

0.00

17.00

3.68

Exploration

1.84

0.45

0.61

1.09

1.69

1.51

1.46

1.14

Depreciation, depletion and amortisation

17.83

7.00

12.32

10.53

22.56

(4.59)

20.10

13.08

Other costs/(income)

6.29

(0.55)

(4.03)

4.60

2.22

8.85

5.22

2.40

Earnings before taxation

15.20

28.56

28.74

18.27

9.40

12.59

(2.14)

17.19

Taxation charge/(credit)

13.60

14.75

7.00

6.81

2.73

3.13

7.14

9.03

Earnings after taxation

1.60

13.81

21.74

11.45

6.67

9.46

(9.28)

8.16
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Shell subsidiaries 2017

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Other[A]

Total

[A]

Comprises Canada, Honduras and Mexico.

Revenue

 

 

 

 

 

 

 

 

Third parties

1,193

2,708

1,414

1,872

1,080

339

689

9,295

Sales between businesses

7,120

9,061

2,400

3,218

5,119

2,938

5,245

35,101

Total

8,313

11,769

3,814

5,090

6,199

3,277

5,934

44,396

Production costs excluding taxes

2,509

2,469

1,110

1,365

2,558

1,571

1,218

12,800

Taxes other than income tax

89

556

119

287

98

1

1,691

2,841

Exploration

243

245

42

129

868

142

276

1,945

Depreciation, depletion and amortisation

2,560

2,892

1,777

1,863

3,410

3,886

3,374

19,762

Other costs/(income)

(157)

1,073

(382)

145

114

1,050

469

2,312

Earnings before taxation

3,069

4,534

1,148

1,301

(849)

(3,373)

(1,094)

4,736

Taxation charge/(credit)

1,689

2,969

(202)

(361)

363

(1,486)

(294)

2,678

Earnings after taxation

1,380

1,565

1,350

1,662

(1,212)

(1,887)

(800)

2,058

 

 

 

 

 

 

 

 

 

$/boe

Revenue

43.71

36.72

31.76

35.57

39.13

38.70

39.36

38.02

Production costs excluding taxes

13.19

7.70

9.24

9.54

16.15

18.55

8.08

10.96

Taxes other than income tax

0.47

1.73

0.99

2.01

0.62

0.01

11.22

2.43

Exploration

1.28

0.76

0.35

0.90

5.48

1.68

1.83

1.67

Depreciation, depletion and amortisation

13.46

9.02

14.80

13.02

21.53

45.89

22.38

16.92

Other costs/(income)

(0.83)

3.35

(3.18)

1.01

0.72

12.40

3.11

1.98

Earnings before taxation

16.14

14.15

9.56

9.09

(5.36)

(39.83)

(7.26)

4.06

Taxation charge/(credit)

8.88

9.26

(1.68)

(2.52)

2.29

(17.55)

(1.95)

2.29

Earnings after taxation

7.26

4.88

11.24

11.62

(7.65)

(22.28)

(5.31)

1.76
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Shell subsidiaries 2016

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Other[A]

Total

[A]

Comprises Canada, Honduras and Mexico.

Revenue

 

 

 

 

 

 

 

 

Third parties

969

2,656

1,069

1,380

643

41

476

7,234

Sales between businesses

5,816

7,284

1,438

3,138

3,960

3,789

2,980

28,405

Total

6,785

9,940

2,507

4,518

4,603

3,830

3,456

35,639

Production costs excluding taxes

2,565

2,212

805

1,468

3,348

2,230

865

13,493

Taxes other than income tax

66

421

83

194

70

–

790

1,624

Exploration

250

408

70

356

438

291

295

2,108

Depreciation, depletion and amortisation

3,270

3,304

1,130

2,018

4,372

1,953

2,881

18,928

Other costs/(income)

1,925

1,606

(700)

356

40

680

(173)

3,734

Earnings before taxation

(1,291)

1,989

1,119

126

(3,665)

(1,324)

(1,202)

(4,248)

Taxation (credit)/charge

(311)

1,918

559

431

(1,351)

(377)

(1,032)

(163)

Earnings after taxation

(980)

71

560

(305)

(2,314)

(947)

(170)

(4,085)

 

 

 

 

 

 

 

 

 

$/boe

Revenue

36.31

28.49

27.58

30.64

29.60

34.07

30.54

30.85

Production costs excluding taxes

13.73

6.34

8.86

9.96

21.53

19.84

7.64

11.68

Taxes other than income tax

0.35

1.21

0.91

1.32

0.45

–

6.98

1.41

Exploration

1.34

1.17

0.77

2.41

2.82

2.59

2.61

1.82

Depreciation, depletion and amortisation

17.50

9.47

12.43

13.69

28.12

17.37

25.46

16.38

Other costs/(income)

10.30

4.60

(7.70)

2.41

0.26

6.05

(1.53)

3.23

Earnings before taxation

(6.91)

5.70

12.31

0.85

(23.57)

(11.78)

(10.62)

(3.68)

Taxation (credit)/charge

(1.66)

5.50

6.15

2.92

(8.69)

(3.35)

(9.12)

(0.14)

Earnings after taxation

(5.24)

0.20

6.16

(2.07)

(14.88)

(8.42)

(1.50)

(3.54)
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Shell subsidiaries 2015

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Other[A]

Total

[A]

Comprises Canada and Mexico.

Revenue

 

 

 

 

 

 

 

 

Third parties

1,866

2,577

1,202

1,174

567

53

85

7,524

Sales between businesses

5,707

8,040

418

3,737

4,941

4,045

535

27,423

Total

7,573

10,617

1,620

4,911

5,508

4,098

620

34,947

Production costs excluding taxes

2,490

2,163

541

1,570

3,039

2,612

343

12,758

Taxes other than income tax

128

435

115

347

79

–

63

1,167

Exploration

261

1,255

195

161

3,336

164

347

5,719

Depreciation, depletion and amortisation

2,769

3,047

478

1,733

6,259

6,570

687

21,543

Other costs/(income)

779

1,465

226

(1,441)

668

2,172

232

4,101

Earnings before taxation

1,146

2,252

65

2,541

(7,873)

(7,420)

(1,052)

(10,341)

Taxation charge/(credit)

418

2,516

429

866

(2,907)

(1,815)

278

(215)

Earnings after taxation

728

(264)

(364)

1,675

(4,966)

(5,605)

(1,330)

(10,126)

 

 

 

 

 

 

 

 

 

$/boe

Revenue

51.61

36.41

39.99

37.48

36.72

39.39

38.61

39.71

Production costs excluding taxes

16.97

7.42

13.35

11.98

20.26

25.11

21.36

14.50

Taxes other than income tax

0.87

1.49

2.84

2.65

0.53

–

3.92

1.33

Exploration

1.78

4.30

4.81

1.23

22.24

1.58

21.61

6.50

Depreciation, depletion and amortisation

18.87

10.45

11.80

13.23

41.72

63.16

42.78

24.48

Other costs/(income)

5.31

5.02

5.58

(11.00)

4.45

20.88

14.45

4.66

Earnings before taxation

7.81

7.72

1.60

19.39

(52.48)

(71.33)

(65.50)

(11.75)

Taxation charge/(credit)

2.85

8.63

10.59

6.61

(19.38)

(17.45)

17.31

(0.24)

Earnings after taxation

4.96

(0.91)

(8.98)

12.78

(33.10)

(53.88)

(82.81)

(11.51)
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Shell subsidiaries 2014

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Canada

Total

[A]

Includes cash paid royalties to governments outside North America.

Revenue

 

 

 

 

 

 

 

 

Third parties

2,808

4,914

1,867

3,004

1,078

202

126

13,999

Sales between businesses

7,869

13,973

990

6,516

9,903

7,399

1,376

48,026

Total

10,677

18,887

2,857

9,520

10,981

7,601

1,502

62,025

Production costs excluding taxes

2,831

2,282

599

2,032

3,440

3,367

482

15,033

Taxes other than income tax [A]

264

948

216

836

198

–

165

2,627

Exploration

457

1,331

232

307

1,549

88

260

4,224

Depreciation, depletion and amortisation

1,772

3,341

427

2,037

6,576

1,709

475

16,337

Other costs/(income)

766

2,058

(2,123)

129

845

2,137

78

3,890

Earnings before taxation

4,587

8,927

3,506

4,179

(1,627)

300

42

19,914

Taxation charge/(credit)

3,362

6,800

2,113

2,404

(654)

60

157

14,242

Earnings after taxation

1,225

2,127

1,393

1,775

(973)

240

(115)

5,672

 

 

 

 

 

 

 

 

 

$/boe

Revenue

73.31

65.09

65.23

69.55

68.22

77.42

79.14

69.33

Production costs excluding taxes

19.44

7.86

13.68

14.85

21.37

34.29

25.40

16.80

Taxes other than income tax [A]

1.81

3.27

4.93

6.11

1.23

–

8.69

2.94

Exploration

3.14

4.59

5.30

2.24

9.62

0.90

13.70

4.72

Depreciation, depletion and amortisation

12.17

11.51

9.75

14.88

40.85

17.41

25.03

18.26

Other costs/(income)

5.26

7.09

(48.47)

0.94

5.25

21.77

4.11

4.35

Earnings before taxation

31.50

30.76

80.05

30.53

(10.11)

3.06

2.21

22.26

Taxation charge/(credit)

23.09

23.43

48.24

17.56

(4.06)

0.61

8.27

15.92

Earnings after taxation

8.41

7.33

31.80

12.97

(6.04)

2.44

(6.06)

6.34
(XLS:) Download XLS

Shell share of joint ventures and associates 2018–2014

$ million

 

 

 

 

 

North America

South America

 

 

Europe

Asia

Oceania

Africa

USA

Canada

Total

Third-party revenue

1,395

5,884

79

–

–

–

–

7,358

Production costs excluding taxes

307

674

105

–

–

–

–

1,086

Taxes other than income tax

82

1,259

4

–

–

–

–

1,345

Exploration

5

45

–

–

–

–

–

50

Depreciation, depletion and amortisation

318

1,016

163

–

–

–

–

1,497

Other (income)/costs

595

615

(26)

–

–

–

–

1,184

Earnings before taxation

88

2,275

(167)

–

–

–

–

2,196

Taxation charge

7

975

–

–

–

–

–

982

Earnings after taxation

81

1,300

(167)

–

–

–

–

1,214

2017

393

650

(23)

 

 

 

 

1,020

2016

292

435

(177)

–

–

–

–

550

2015

454

1,250

(800)

–

–

–

–

904

2014

1,076

2,365

271

–

–

–

(276)

3,436
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