Oman
Employees
473
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Third-party revenues
$1,299,659,410
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Related-party revenues
$9,868,920,324
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Total revenues
$11,168,579,734
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Profit before tax
$5,756,427,924
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Corporate income tax paid
$4,561,156,101
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Corporate income tax accrued
$4,602,019,891
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Stated capital
$101,944,408
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Accumulated earnings
$48,725,073
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Tangible assets
$852,669,516
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Other payments to governments
$400,000
Shell's footprint
Shell has been present in Oman since 1937 and is active in exploration, production, trading and retail. Shell has a 34% interest in the Block 6 concession which accounts for 65% of the country's crude oil production. Shell also has a 53% interest in the Block 10 concession and material participating interests in three exploration blocks. Shell has a 49% interest in Shell Oman Marketing Company SAOG (SOM), which provides services and sells a wide range of Shell automotive, aviation and marine products, including fuels, lubricants and greases. SOM has more than 200 Shell retail sites in Oman. Sohar Solar Qabas (FZC) LLC represents Shell's investment in the solar energy sector in Oman. In addition, Shell holds a 30% interest in Oman LNG LLC, which operates two liquefied natural gas (LNG) trains and processes natural gas into LNG.
Country financial analysis
The statutory corporate income tax rate in Oman is 15%, unless individual concession arrangements with the government set higher tax rates for upstream projects. Profit is made predominantly from the upstream business and the effective tax rate for Shell is 83.75%, reflecting the concession arrangements with the government. Our Payments to Governments Report for 2022 shows that Shell paid around $400,000 in fees in addition to corporate income tax.
Read more in Payments to Governments Report(shell.com/payments-to-governments).