PROFIT BEFORE TAX
Main Business Activities
- Upstream and Integrated Gas
- Other support activities
Oryx Caspian Pipeline LLC, a Shell US-incorporated entity, has an interest in Caspian Pipeline Consortium (CPC). CPC is a project to transport crude oil with the participation of public entities from Russia, Kazakhstan and other international oil companies. It has a branch registered in Cyprus. In 2019, the Cyprus branch did not receive any income from its holdings.
In 2016, through its acquisition of BG Group, Shell acquired a UK-incorporated entity, BG Cyprus Ltd., which has a branch in Cyprus. The entity holds an exploration and production licence in Cyprus but production has not yet commenced.
Country Financial Analysis
Cyprus has a statutory corporate income tax rate of 12.5%. The Shell branches in Cyprus made no profit in 2019 and therefore no corporate income tax was due.