Bolivia
42 Employees
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Third-party revenues
$126,492,449
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Related-party revenues
$91,143
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Total revenues
$126,583,592
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Profit before tax
$40,210,741
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Tax paid
$0
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Tax accrued
$0
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Tangible assets
$316,239,184
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Stated capital
$376,873,740
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Accumulated earnings
$(141,550)
Main business activities
- Integrated Gas
Shell’s footprint
Shell has been present in Bolivia since 2016 when it acquired its Bolivian entities as part of the BG Group acquisition. Shell Bolivia Corporation, Sucursal Bolivia is a company whose main activity is the exploration, development and production of natural gas and associated liquids. Shell Bolivia Corporation is the sole shareholder of Shell Bolivia Corporation, Sucursal Bolivia. Shell Bolivia Corporation is incorporated in the Cayman Islands and is tax resident in the UK. Shell Bolivia Corporation’s sole shareholder is BG Overseas Limited, a UK-registered entity. Shell Bolivia Corporation, Sucursal Bolivia is subject to tax in Bolivia and its tax is not reduced as a result of it being held through a Cayman Island company. Shell in Bolivia has stated it will not pursue further exploration in the Huacareta Block and in 2019 our contract for operating the La Vertiente Block expired. Shell also has a non-operator interest in the Caipipendi, Iñiguazu and Tarija XX West Blocks. Shell has stated it will not pursue further exploration in the Iñiguazu Block. Shell also has one legacy entity that is in the process of being liquidated: Pennzoil Bolivia S.A.
Country financial analysis
The statutory corporate income tax rate in Bolivia is 25%. The revenues for 2021 were earned from sales to the Bolivian national oil company, Yacimientos Petrolíferos Fiscales Bolivianos. Shell in Bolivia made a profit during 2021 but paid no corporate income tax because it carried forward losses from previous years. Our Payments to Governments Report for 2021 shows that Shell paid around $1.03 million in fees.
