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Posts on ‘April 8th, 2020’

Shell nets $110m North Sea tax refunds

8 April 2020

ROYAL Dutch Shell received around $110 million (£87m) more back from the UK Government in respect of its oil and gas exploration and production activity than it paid in taxes last year, the company has revealed.

In a report on the payments it made to governments in 2019 the oil giant disclosed that it received tax rebates in respect of its UK North Sea business totalling $116 million. These dwarfed the $6.5m that the company paid in fees.

The report highlights the value of the tax relief provided to firms in respect of the costs of decommissioning North Sea facilities. read more

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