Bulgaria

52 Employees

THIRD-PARTY REVENUES

$187,588,844

RELATED-PARTY REVENUES

$6,676,457

TOTAL REVENUES

$194,265,301

PROFIT BEFORE TAX

$(20,100,691)

TAX PAID

$910,526

TAX ACCRUED

$364,490

TANGIBLE ASSETS

$77,586,003

STATED CAPITAL

$42,906,243

ACCUMULATED EARNINGS

$781,128

Main Business Activities

  • Upstream
  • Downstream

Shell has been present in Bulgaria since 1991 and is mostly active in the downstream sector with a network of 103 retail sites across the country.

In 2016, Shell signed an agreement with the Ministry of Energy to explore for oil and natural gas in the Bulgarian continental shelf of the Black Sea.

In 2019, Shell International Exploration and Development Italia S.p.A., which has a Bulgarian , signed a Joint Operation Agreement with two partners and began drilling its first oil and gas exploration well. By the end of 2019, Shell had directly invested almost $70 million in oil and gas exploration in Bulgaria.

Country Financial Analysis

Bulgaria’s statutory corporate income tax rate is 10%.

Shell reported a 2019 loss due to exploration costs. However, tax was paid on profitable downstream activities.

Our Payments to Governments report for 2019 also shows that Shell paid $158,423 in fees.

Branch
A branch is an office or business presence in a location other than where the corporate entity is established.
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