Uruguay

Employees

1

• Third-party revenues

  $902,857

• Related-party revenues

  $260,320

• Total revenues

  $1,163,178

• Profit before tax

  $758,224

• Corporate income tax paid

  $9,931

• Corporate income tax accrued

  $6,200

• Stated capital

  $16,701,984

• Accumulated earnings

  $79,827

• Tangible assets

  $373

• Other payments to governments

  –

Shell's footprint

Shell has been present in Uruguay since the acquisition of BG Group in 2016. BG (Uruguay) S.A. (BGU), a wholly owned Shell subsidiary, provides technical services and advice to Gasoducto Cruz del Sur S.A. under the concession agreement for the construction and operation of a pipeline between Punta Lara (Argentina) and Montevideo (Uruguay). In 2018, BGU relinquished three offshore exploration blocks to the Uruguayan government. In 2022, Shell was awarded exploration and production rights for three offshore blocks. Two of the blocks were awarded solely to Shell (OFF-2 and OFF-7) and the third to a joint venture between Shell and APA (OFF-4).

Country financial analysis

The statutory corporate income tax rate in Uruguay is 25%. Losses carried forward from previous years resulted in BGU paying only the minimum amount of corporate income tax, which is levied by Uruguay law.