Main Business Activities
Shell has been present in Bulgaria since 199. We are active in the downstream sector and explores for oil and gas.
In 2018, Shell Bulgaria had a network of 102 retail sites across the country.
Since 2015, Shell has been active in the upstream sector through Shell Exploration and Production (LIX) B.V. Bulgaria branch (SEPLIX). SEPLIX has been exploring for oil and natural gas deposits in the Black Sea. In 2017, SEPLIX transferred the rights and obligations of the exploration to Shell International Exploration and Development Italia S.P.A. and its Bulgaria branch (SIEDI). SEPLIX was deregistered in February 2018. By the end of 2018, both Shell entities had directly invested more than $41.7 million in exploration in Bulgaria.
Country Financial Analysis
A loss was reported in 2018, primarily as a result of exploration costs. Taxes paid in 2018 are in relation to profitable downstream activities.
Our Payments to Governments report for 2018 also shows that Shell paid $163,914 in fees.