Main Business Activities
- Upstream and Integrated Gas
Shell has been active in Denmark since 1913 and has an office in Copenhagen. Shell’s exploration and production activity in Denmark is carried out through a branch of a Dutch company, Shell Olie- og Gasudvinding Danmark B.V. (SOGU).
SOGU also has a subsidiary, Shell Olie- og Gasudvinding Danmark Pipelines ApS, that holds an interest in the pipeline that transports gas from the Danish Continental Shelf to the European continent.
In October 2018, Shell Overseas Holdings Ltd., the UK shareholder of SOGU, agreed to sell its interest in SOGU to Norwegian Energy Company ASA (Noreco) for $1.9 billion. The transaction’s effective date was January 1, 2017 and completion took place on July 31, 2019 following receipt of regulatory approval by the Danish authority.
Shell retains its downstream presence in Denmark through A/S Dansk Shell, which includes the Fredericia refinery and a network of Shell-branded retail sites. The refinery takes crude oil from the Danish part of the North Sea and converts it into gasoline, diesel and jet fuel. The products are sold from the refinery to a large number of fuel companies.
Country Financial Analysis
Shell’s Danish branch of SOGU is taxable in Denmark and most of the tax paid in the table above relates to the upstream activities there.