PROFIT BEFORE TAX
Main Business Activities
- Upstream and Integrated Gas
Shell has been present 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
The statutory corporate income tax rate in New Zealand is 28%.
Revenues reduced in 2019 as a result of the divestments, leading to a loss before tax. In compliance with New Zealand law, taxes are calculated and paid to the relevant tax authorities for entities retained after the divestments in 2018.