Summary of content changes
New content in the Tax Contribution Report 2020:
- Disclosure of the total tax contribution for five key operating jurisdictions in 2020: the UK, the USA, the Netherlands, Nigeria and India. This is aligned with our Powering Progress Strategy Day 2021 disclosure.
- More transparency on our use of tax incentives, including through case studies, in the Special Topics section.
- New case study on decommissioning in the Special Topics section. This shows how decommissioning is treated for tax purposes in the UK and Kazakhstan.
- The total number of 99 countries has not changed but we have added Ghana and Suriname and excluded Mongolia and Palestine because of the closure of activities there.
This Tax Contribution Report details the corporate income tax we paid in 2020 and follows how our activities were organised in 2020. In 2021, we announced our updated strategy, Powering Progress. This sets out how we plan to accelerate the transition of our business to net-zero emissions, in step with society’s progress in achieving the goal of the UN Paris Agreement on climate change. Powering Progress is designed to integrate sustainability with our business strategy, profitably and in support of our purpose – to power progress together by providing more and cleaner energy solutions. We will deliver our strategy through our three business pillars of Growth, Transition and Upstream.
Delivering the strategy:
Our vision for the future of energy
Growth Pillar: The future of energy
Transition Pillar: Enabling our strategy
Upstream Pillar: Funding our strategy
Enhanced value delivery through trading and optimisation