Main Business Activities
- Upstream and Integrated Gas
Shell has been in New Zealand for more than 100 years. However, we have divested our interests in New Zealand as part of a global strategic review of investments. The Downstream retail business was sold in 2010 and the Upstream oil and gas assets were divested 2017 and 2018. In 2017, Shell sold its interest in Kapuni and in 2018 Shell completed the sale of its interests in the Māui, Pohokura, and Tank Farm assets, and the sale of Shell’s interest in (and operatorship of) the Great South Basin venture.
Country Financial Analysis
In compliance with New Zealand law, the divestment in 2018 is not taxable. Shell paid tax on profits prior to the sale.
Related-party revenues in 2018 arise from sales of oil and gas to the regional trading company in Singapore.
Our Payments to Governments Report for 2018 also shows around $43.8 million of royalties paid.