Michael West: 9 August 2015
For the third year on the trot, Shell service stations generated billions of dollars and revenue but not a cent in company tax. In fact the owners of the sunny yellow servos reported tax benefits in all three years despite total sales which may be in excess of $60 billion.
This is an incredible situation for a nationwide network of services stations as well as a large refinery which makes up the “downstream” division of the global oil brand.
Shell last year sold its downstream business in Australia including its Geelong refinery, a portfolio of 870 petrol stations and other assets to Dutch oil group Vitol.