Singapore

Shell has had a presence in Singapore since 1891. Today, our activities include refining and manufacturing of petroleum and petrochemical products, lubricants and greases, as well as trading and supply activities. Shell operates a network of retail sites in Singapore; owns and operates ships, tankers and cargo carriers; and acts as an LNG aggregator for its customers, arranging importation and shipping of LNG from its network of suppliers to match buyers’ needs. We have treasury operations in Singapore and provide pension fund management and pension trustee services for Shell in Asia-Pacific.

Country Financial Analysis

Shell in Singapore generates significant revenue from the wide range of business activities undertaken there but also incurs substantial operational costs. The table above shows that profit before tax was more than $2 billion in 2018.

In 2018, Shell’s manufacturing and chemical businesses in Singapore continued to make capital investments. Under the group relief regime in Singapore, current-year capital allowances arising from such investments may be offset against the taxable profits of entities within the Shell Singapore group of companies. In addition, any current-year losses can also be offset. 

On the basis of significant contributions to the local Singapore economy, including but not limited to local employment, local business expenditure, strategic partnerships with local industry participants and new business activities, some Shell Singapore companies have also been awarded tax incentives.