barrels of oil equivalent (per day); natural gas volumes are converted into oil equivalent using a factor of 5,800 scf per barrel
Payments for bonuses 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.
The carbon dioxide equivalent life-cycle emissions of the product have been offset with verified nature-based carbon credits.
carbon capture and storage
Chief Executive Officer
Chief Financial Officer
A universal unit of measurement to indicate the global warming potential of each greenhouse gas, expressed in terms of the global warming potential of one unit of carbon dioxide. It is used to evaluate releasing (or avoiding releasing) different greenhouse gases against a common basis.
A tax due on the purchase of goods and services. Typically, this is a percentage of the sales price of the item or service. It is an indirect tax as it is levied and administered by the retailers or service providers but it is borne or paid by the individual purchasing the item. The companies that charge the tax have to administer the collection and payment on behalf of the government.
Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
Canada Oil Sands Innovation Alliance
Certified Professional Environmental Auditor
Represents areas of high biodiversity value, it takes into account both global and national priorities and builds on the conservation principles of ‘vulnerability’ (threat) and ‘irreplaceability’ (rarity/restricted distribution). It is identified based on five criteria that address habitat of significant importance to threatened, endemic, congregatory and migratory species, threatened or unique ecosystems, and key evolutionary processes (IFC, 2019).
Center for Sustainable Shale Development
Environmental Defense Fund
enhanced oil recovery
US Environmental Protection Agency
This is a tax on manufacturers and is due at the point of production rather than sale. Companies which manufacture products that are subject to excise duties are responsible for reporting and paying these taxes. Excise taxes are in addition to other forms of indirect tax, such as customs duties, VAT or GST, and typically form part of the cost of the product.
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.
final investment decision
floating liquefied natural gas
Global Reporting Initiative
gas to liquids
health, safety and environment
health, safety, security and environment
health, safety, security, environment and social performance
International Energy Agency
International Association of Oil & Gas Producers
Intergovernmental Panel on Climate Change
The global oil and gas industry association for advancing environmental and social performance
International Organization for Standardization
International Union for Conservation of Nature
thousand barrels of oil equivalent (per day); natural gas volumes are converted into oil equivalent using a factor of 5,800 scf per barrel
liquefied natural gas
liquefied petroleum gas
million tonnes per annum
Marine Well Containment Company
Net Carbon Footprint
Net positive impact
Net Positive Impact (NPI) on biodiversity is a target for project outcomes in which the impacts on biodiversity (i.e. the variety of ecosystems and living things) caused by the project are outweighed by the actions taken to avoid and reduce such impacts, rehabilitate affected species/landscapes and offset any residual impacts. (IFC, 2019)
Deforestation occurs when forests are converted to non-forest uses. In line with the definition of forest used by the Food and Agriculture Organization of the United Nations (2020), this commitment applies to land spanning more than 0.5 hectares with trees higher than fve metres and a canopy cover of more than 10%, or trees able to reach these thresholds in situ. It does not include land that is predominantly under agricultural or urban land use. Biological status of forested areas after reafforestation to be equal or higher from original status.
Network of Employers for Traffic Safety
natural gas liquids
Organisation for Economic Co-operation and Development
volumes are converted into a daily basis using a calendar year
This is the host government’s share of production. It includes the government’s share as a sovereign entity or through its participation as an equity or interest holder in projects within its home country.
research and development
Royalties are generally payment due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See also Trademark royalties.
standard cubic feet (per day)
Shell Companies in Nigeria
US Securities and Exchange Commission
Safety, Environment and Sustainability Committee
Shell Nigeria Exploration and Production Company
Solar power capacity
Solar power installed capacity is measured in megawatts direct current (MWdc) as per industry standard. Solar power capacity for generation is shown in megawatts alternating current (MWac).
Shell Petroleum Development Company
Shell Technology Ventures
The Nature Conservancy
total recordable case frequency
United Nations Development Programme
United Nations Environment Programme
volatile organic compounds
Voluntary Principles on Security and Human Rights
World Business Council for Sustainable Development
The conservation of all resources by means of responsible production, consumption, reuse and recovery of products, packaging and materials without burning, and with no discharges to land, water, or air that threaten the environment or human health (Zero Waste International Alliance, 2018).
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