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Trinidad and Tobago

458 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’s footprint

Shell has been active in Trinidad and Tobago since 1913. Shell acquired Repsol’s non-operated interest in Atlantic LNG in 2013 and the 2016 acquisition of BG Group further increased its footprint. Shell has exploration and production activities through operated and non-operated ventures, as well as gas and oil pipelines and LNG facilities.

Country financial analysis

The 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 companies operating under a production-sharing contract (PSC) are assessed according to the individual legal entity and asset block. In general, losses in one PSC may not be offset against profits arising elsewhere. Tax paid and accrued in 2021 is a result of profits made by the majority of our existing production assets. The increase in revenues is partly a result of the delivery of first gas in Block 5C in mid-July of 2021. Higher prices have also contributed to the rise in revenues.

Our Payments to Governments Report for 2021 shows that Shell paid around $234.9 million in production entitlements, royalties, bonuses and fees.

Payments for bonuses usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced or production has reached a milestone.
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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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Fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.
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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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