United States of America
Main business activities
- Renewables and Energy Solutions
- Trading and Supply
Shell has been present in the USA for more than 100 years. Shell’s primary exploration and production area is the Gulf of Mexico. We have a refinery in Louisiana, and chemical facilities in Pennsylvania, Louisiana and Texas. In 2022, Shell completed the sale of its refinery in Alabama. Our trading organisation buys and sells more than 5 million barrels of hydrocarbons and 10.5 billion cubic feet of natural gas every day. It also manages more than 10,000 gigawatts of power generation capacity, with a third coming from renewable sources. There are more than 13,000 Shell-branded retail sites in the USA and 2,100 Jiffy Lube locations. Shell is also investing in renewable and new energy solutions. We have eight light-duty hydrogen fuelling stations in California, with another under construction.
Country financial analysis
The federal statutory corporate income tax rate in the USA is 21%. The tax figure in 2021 includes the corporate income taxes paid to both the US federal and state governments which may relate to more than one tax-paying year. Operating losses incurred in previous years have been offset against earnings and this has resulted in a lower tax figure. These losses were the result of many factors, including investments in upstream, manufacturing and chemical businesses, which did not generate the profitability expected, as a result of low oil and gas prices. Our Payments to Governments Report for 2021 shows that Shell paid around $958.9 million in royalties and fees.