Manufacturing, trading and marketing
Our Downstream organisation comprises Manufacturing, Retail, Global Commercial, Trading and Supply, and Chemicals.
Both Chemicals and Manufacturing have significant tangible assets such as refineries, as well as a significant number of employees.
In some locations, our retail operations have tangible assets such as service station sites and staff. But in others, where those sites are owned or operated by third parties, our profits may be generated without assets or staff. This is the case in Hong Kong, SAR, for example.
Shell Trading and Supply is one of the largest energy trading operations in the world. This global organisation combines our network of trading companies, shipping and maritime capabilities, and an integrated network of supply and distribution activities. Trading activities include a proportion of related-party transactions as oil and gas are acquired from our Upstream and Integrated Gas organisations and sold to our Downstream organisation.
Through our main trading offices in London, Houston, Singapore, Dubai and Rotterdam, we trade crude oil, natural gas, LNG, electricity, refined products, chemical feedstocks and environmental products such as carbon emissions. We also have a trading office in the Bahamas. See Our tax data for more information on the Bahamas.
Tax in Downstream
Downstream business activities are usually taxed at a country's standard rate of corporate income tax.
Our shipping and trading activities move oil, natural gas and other products around the world with associated import and export duties and other taxes.
Our Retail organisation handles large volumes of sales transactions that include consumption taxes and fuel duties, these are collected and paid to the relevant authorities.