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  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Corporate income tax paid


  • Corporate income tax accrued


  • Stated capital


  • Accumulated earnings


  • Tangible assets


  • Other payments to governments


Shell's footprint

Shell has been active in Colombia since 1956. Our upstream activities comprise a 50% interest in three deep-water blocks that we operate, and a 60% interest in two other deep-water blocks where Chevron is the operator.

Country financial analysis

The statutory corporate income tax rate in Colombia was raised to 35% in January 2022 from 31% in 2021. We are investing in our upstream business in Colombia and incurring costs in relation to the drilling of the Gorgon well. As a result, we have reported a loss and no corporate income tax was accrued. Our Payments to Governments Report for 2022 shows that Shell paid $558,570 in fees in 2022.

Read more in Payments to Governments Report(

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 from this report. Also excluded are payments made in return for services provided by a government.
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