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Brunei Darussalam

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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 present in Brunei for more than 90 years. The figures above are for Shell’s wholly owned entities in Brunei that have an interest in oil and gas exploration and production activities. Shell also has interests in non-Shell operated joint ventures, operating retail stations, liquid natural gas facilities and oil and gas exploration and production facilities. The Shell entities which are shareholders in these joint ventures are based in the United Kingdom. Shell’s share of the results from these joint ventures, which are equity-accounted investments, is included in the country report for the United Kingdom.

Country financial analysis

The statutory petroleum income tax rate in Brunei is 55%. The profit before tax number in the table includes non-taxable income. Our Payments to Governments Report for 2022 shows that Shell paid around $39.6 million in production entitlements and royalties.

Read more in Payments to Governments Report(

Throughout this report, “country” is used as the primary descriptor for a geographical area because that is the word used by the OECD/G20 base erosion and profit shifting project in their proposal for country-by-country reporting. This is one of the four minimum reporting standards to which around 135 countries have committed, covering the tax residence jurisdictions of nearly all large multinational enterprises. In this report “country” may also refer to locations, jurisdictions or territories which have their own tax regimes or discrete rules.
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Profit before tax
Profit or loss before tax is reported in Shell's Consolidated Statement of Income. This is the profit or loss calculated using Group accounting policies. Local statutory accounts may need to comply with local accounting standards which may be different. The local statutory accounting profit or loss is the basis for the calculation of taxable profits in individual countries or locations. Local tax laws are then applied to the profit or loss. Profit before tax shows the Group accounting result but not the profits subject to tax after compliance with local tax laws. Any share of profit or loss from non-consolidated joint ventures and associates is attributed to the country where the shareholding entity is based. This figure is reported after accounting for corporate income tax accrued in the joint venture or associate's accounts and is included in the shareholding entity's profit before tax.
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Royalties are generally payments 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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