Mexico
163 Employees
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Third-party revenues
$1,308,078,460
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Related-party revenues
$525,164,901
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Total revenues
$1,833,243,361
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Profit before tax
$(302,316,313)
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Tax paid
$3,374,178
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Tax accrued
$1,977,135
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Tangible assets
$541,778,496
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Stated capital
$1,453,163,370
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Accumulated earnings
$(1,014,199,935)
Main business activities
- Upstream
- Integrated Gas
- Downstream
- Trading and Supply
Shell’s footprint
Shell has been active in Mexico since 1954 when it started as a chemicals business. In 2021, Shell’s activities included nine deep-water blocks, one shallow-water block, 230 Shell retail sites and Shell-branded sites, the import and supply of gasoline/diesel, the sale of petrochemicals and lubricants through macro-distributors, a commercial fleet, a power trading business, and natural gas trading and supply.
Country financial analysis
The statutory corporate income tax rate in Mexico is 30%. Losses in 2021 were predominantly a result of exploration costs and investment in downstream where margins were impacted by cost controls. In Mexico, tax is paid in instalments in advance during the year and any overpayments may be used to reduce the tax liability in future periods. Our Payments to Governments Report for 2021 shows that Shell paid around $38.8 million in fees.
