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Albania

58 Employees

  • Third-party revenues

    $91,554

  • Related-party revenues

    $(85,825)

  • Total revenues

    $5,729

  • Profit before tax

    $(41,791,391)

  • Tax paid

    $0

  • Tax accrued

    $0

  • Tangible assets

    $289,868,454

  • Stated capital

    $0

  • Accumulated earnings

    $0

Main business activities

  • Upstream

Shell’s footprint

Shell has been present in Albania since 2012 and is exploring for oil and gas there through an Albanian branch of a Dutch company, Shell Upstream Albania B.V. In 2019, a new branch, Shell Albania Block 4 B.V., was set up to manage a new production-sharing contract.

Country financial analysis

The corporate income tax rate for oil and gas production in Albania is 50% and is determined by the production-sharing contract agreed with the Albanian government. The loss before tax is a result of exploration costs. As the fields have not been developed or started production there are no profits to tax. Our Payments to Governments Report for 2021 shows that Shell paid around $160,000 in fees.

Branch
A branch is an office or business presence in a location other than where the corporate entity is established.
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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
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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