Main Business Activities
- Upstream and Integrated Gas
Shell has been present in Australia since 1901. Our activities are mostly in the upstream sector, especially in exploration for natural gas, and the development and production of liquefied natural gas (LNG). There is also an emerging new business in domestic energy trading. Since 2009, a quarter of Shell’s new investments globally have been made in Australia. This amounts to around $50 billion invested in Australia over that period. Shell Australia is comprised of two income tax groups: Shell Energy Holdings Australia Ltd. and QGC Upstream Holdings Pty Ltd. (QGC).
Country Financial Analysis
Shell Australia’s 2018 revenue from contracts with customers and related parties includes sales of LNG, condensate, liquefied petroleum gas and domestic gas. Shell Australia is investing in future projects which are yet to generate profit. The Shell Energy Holdings and QGC tax groups are in a loss position after using capital allowances, carry-forward losses and incentive credits (for research and development, for example). The tax paid figure for 2018 includes payments relating to previous years.
Our Payments to Governments Report for 2018 also shows around $166.2 million of payments in royalties, bonuses and fees.