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Trinidad and Tobago

487 Employees

  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Tax paid


  • Tax accrued


  • Tangible assets


  • Stated capital


  • Accumulated earnings


Main Business Activities

  • Integrated Gas

Shell has been active in Trinidad and Tobago since 1913. Following Shell’s 2013 acquisition of Repsol’s liquefied natural gas (LNG) business and the 2016 acquisition of BG Group, Shell has a larger presence in Trinidad and Tobago.

Shell’s portfolio in Trinidad and Tobago includes exploration and production activities through both operated and non-operated ventures, as well as gas and oil pipelines and LNG facilities.

Country Financial Analysis

The general statutory corporate income tax rate in Trinidad and Tobago is 30%. There is a separate tax regime for petroleum operations with a corporate income tax rate of 55%.

In Trinidad and Tobago, tax filings for production-sharing contracts (PSCs) are assessed according to the individual legal entity and asset block. This means that, in general, losses in one PSC may not be offset against profits arising elsewhere.

Overall, Trinidad and Tobago reported a loss for accounting purposes for the majority of assets in production. As a result, $15 million of corporate income tax was paid on the profits of a few income-generating assets. Despite a reduction in total revenues for the year, the overall loss for the year is less compared with the prior year mainly as a result of the remeasurement of certain accounting provisions.

Our Payments to Governments Report for 2020 also shows that Shell paid around $75 million in production entitlements, royalties and fees.

Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Production-sharing contracts or concessions
A production-sharing contract (PSC) is a contractual arrangement between the holders of a resource, typically a country’s government, and a resource extraction company concerning how much oil or gas each party would receive. The company bears the mineral and financial risk of the initiative. It explores, develops and, if successful, manages production. Costs are recovered through the sales of oil or gas and what is left over is split depending on the terms of the contract.
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Royalties are generally payment due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See Trademark royalties.
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