Title of Each Class
|
Trading Symbols |
Name of Each Exchange on Which Registered
|
||||||
American Depositary Shares representing two A ordinary shares
of the issuer with a nominal value of €0.07 each
|
RDS.A
|
New York Stock Exchange
|
||||||
American Depositary Shares representing two B ordinary shares
of the issuer with a nominal value of €0.07 each
|
RDS.B
|
New York Stock Exchange
|
||||||
1.75% Guaranteed Notes due 2021
|
RDS/21 |
New York Stock Exchange
|
||||||
1.875% Guaranteed Notes due 2021
|
RDS.A/21 |
New York Stock Exchange
|
||||||
2.375% Guaranteed Notes due 2022
|
RDS/22 |
New York Stock Exchange
|
||||||
0.375% Guaranteed Notes due 2023 | RDS.A/23B | New York Stock Exchange | ||||||
2.25% Guaranteed Notes due 2023
|
RDS/23 |
New York Stock Exchange
|
||||||
3.4% Guaranteed Notes due 2023
|
RDS/223A |
New York Stock Exchange
|
||||||
3.5% Guaranteed Notes due 2023
|
RDS.A/23 |
New York Stock Exchange
|
||||||
Floating Rate Guaranteed Notes due 2023
|
RDS.A/23A |
New York Stock Exchange
|
||||||
2% Guaranteed Notes due 2024
|
RDS.A/24 |
New York Stock Exchange
|
||||||
2.375% Guaranteed Notes due 2025 | RDS.A/25 | New York Stock Exchange | ||||||
3.25% Guaranteed Notes due 2025
|
RDS/25 |
New York Stock Exchange
|
||||||
2.5% Guaranteed Notes due 2026
|
RDS/26 |
New York Stock Exchange
|
||||||
2.875% Guaranteed Notes due 2026
|
RDS.A/26 |
New York Stock Exchange
|
||||||
3.875% Guaranteed Notes due 2028
|
RDS.A/28 |
New York Stock Exchange
|
||||||
2.375% Guaranteed Notes due 2029
|
RDS.A/29 |
New York Stock Exchange
|
||||||
2.75% Guaranteed Notes due 2030 | RDS.A/30 | New York Stock Exchange | ||||||
4.125% Guaranteed Notes due 2035
|
RDS/35 |
New York Stock Exchange
|
||||||
6.375% Guaranteed Notes due 2038
|
RDS.A/38 |
New York Stock Exchange
|
||||||
5.5% Guaranteed Notes due 2040
|
RDS/40 |
New York Stock Exchange
|
||||||
3.625% Guaranteed Notes due 2042
|
RDS/42 |
New York Stock Exchange
|
||||||
4.55% Guaranteed Notes due 2043
|
RDS/43 |
New York Stock Exchange
|
||||||
4.375% Guaranteed Notes due 2045
|
RDS/45 |
New York Stock Exchange
|
||||||
3.75% Guaranteed Notes due 2046
|
RDS/46 |
New York Stock Exchange
|
||||||
4.00% Guaranteed Notes due 2046
|
RDS.A/46 |
New York Stock Exchange
|
||||||
3.125% Guaranteed Notes due 2049
|
RDS.A/49 |
New York Stock Exchange
|
||||||
3.25% Guaranteed Notes due 2050 | RDS.A/50 | New York Stock Exchange |
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
|
þ
|
Yes
|
☐
|
No
|
||||||||||
If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
|
☐
|
Yes
|
þ
|
No
|
||||||||||
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
|
þ
|
Yes
|
☐
|
No
|
||||||||||
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
|
þ
|
Yes
|
☐
|
No
|
Large accelerated filer
|
þ
|
Accelerated filer
|
☐
|
Non-accelerated filer
|
☐
|
||||||||||||||||||
Emerging growth company
|
☐
|
||||||||||||||||||||||
If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange Act.
|
☐
|
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment on the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issues its audit report. |
þ
|
|||||||||||||||||||
Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:
|
U.S. GAAP
|
☐
|
||||||||||||||||||
International Financial Reporting Standards as issued by the International Accounting Standards Board.
|
þ
|
Other
|
☐
|
|||||||||||||||||
If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.
|
Item 17
|
☐
|
Item 18
|
☐
|
||||||||||||||||
If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
|
☐
|
Yes
|
þ
|
No
|
CROSS REFERENCE TO FORM 20-F | |||||
INTRODUCTION SHELL FORM 20-F 2020 |
2
|
INTRODUCTION SHELL FORM 20-F 2020 |
3
|
TERMS AND ABBREVIATIONS | |||||
Currencies | |||||
$ | US dollar | ||||
€ | euro | ||||
£ | sterling | ||||
Units of measurement | |||||
acre | approximately 0.004 square kilometres | ||||
b(/d) | barrels (per day) | ||||
boe(/d) | barrels of oil equivalent (per day); natural gas volumes are converted into oil equivalent using a factor of 5,800 scf per barrel | ||||
kboe(/d) | thousand barrels of oil equivalent (per day); natural gas volumes are converted into oil equivalent using a factor of 5,800 scf per barrel | ||||
MMBtu | million British thermal units | ||||
megajoule | a unit of energy equal to one million joules | ||||
mtpa | million tonnes per annum | ||||
per day | volumes are converted into a daily basis using a calendar year | ||||
scf(/d) | standard cubic feet (per day) | ||||
Products | |||||
GTL | gas-to-liquids | ||||
LNG | liquefied natural gas | ||||
LPG | liquefied petroleum gas | ||||
NGL | natural gas liquids |
Miscellaneous | |||||
ADS | American Depositary Share | ||||
AGM | Annual General Meeting | ||||
API | American Petroleum Institute | ||||
CCS | carbon capture and storage | ||||
CCS earnings | earnings on a current cost of supplies basis | ||||
CO2
|
carbon dioxide | ||||
EMTN | Euro medium-term note | ||||
EPS | earnings per share | ||||
FCF | free cash flow | ||||
FID | final investment decision | ||||
GAAP | generally accepted accounting principles | ||||
GHG | greenhouse gas | ||||
HSSE | health, safety, security and environment | ||||
IAS | International Accounting Standard | ||||
IEA | International Energy Agency | ||||
IFRS | International Financial Reporting Standard(s) | ||||
IOGP | International Association of Oil & Gas Producers | ||||
IPIECA | International Petroleum Industry Environmental Conservation Association (global oil and gas industry association for environmental and social issues) | ||||
LTIP | Long-term Incentive Plan | ||||
OECD | Organisation for Economic Co-operation and Development | ||||
OML | oil mining lease | ||||
OPEC | Organization of the Petroleum Exporting Countries | ||||
OPL | oil prospecting licence | ||||
PSC | production-sharing contract | ||||
PSP | Performance Share Plan | ||||
REMCO | Remuneration Committee | ||||
SEC | US Securities and Exchange Commission | ||||
TRCF | total recordable case frequency | ||||
TSR | total shareholder return | ||||
WTI | West Texas Intermediate |
INTRODUCTION SHELL FORM 20-F 2020 |
4
|
TABLE OF CONTENTS | |||||
Cover | |||||
Cross reference to Form 20-F | |||||
Terms and abbreviations | |||||
About this report | |||||
Strategic Report | |||||
Selected financial data | |||||
Business overview | |||||
Strategy and outlook | |||||
Risk factors | |||||
Market overview | |||||
Summary of results | |||||
Performance indicators | |||||
Integrated gas | |||||
Upstream | |||||
Oil and gas information | |||||
Oil products | |||||
Chemicals | |||||
Corporate | |||||
Liquidity and capital resources | |||||
Environment and society | |||||
Climate change and energy transition | |||||
Our people | |||||
Governance | |||||
The Board of Royal Dutch Shell plc | |||||
Senior Management | |||||
Governance framework | |||||
Nomination and Succession Committee | |||||
Safety, Environment and Sustainability Committee | |||||
Audit Committee Report | |||||
Directors' Remuneration Report | |||||
Annual Report on Remuneration | |||||
Directors' Remuneration Policy | |||||
Governance | |||||
Financial Statements and Supplements | |||||
Report of Independent Registered Public Accounting Firm | |||||
Consolidated Financial Statements | |||||
Consolidated Statement of Income | |||||
Consolidated Statement of Comprehensive Income | |||||
Consolidated Balance Sheet | |||||
Consolidated Statement of Change in Equity | |||||
Consolidated Statement of Cash Flows | |||||
Notes to the Consolidated Financial Statements |
INTRODUCTION SHELL FORM 20-F 2020 |
5
|
1.Basis of Preparation
|
|||||
2.Significant Accounting Policies, Judgements and Estimates
|
|||||
3.Changes to IFRS not yet adopted
|
|||||
4.Segment Information
|
|||||
5.Interest and Other Income
|
|||||
6.Interest Expense
|
|||||
7.Intangible Assets
|
|||||
8.Property, Plant and Equipment
|
|||||
9.Joint Ventures and Associates
|
|||||
10.Investments in Securities
|
|||||
11.Trade and Other Receivables
|
|||||
12.Inventories
|
|||||
13.Cash and Cash Equivalents
|
|||||
14.Debt and Lease Arrangements
|
|||||
15.Trade and Other Payables
|
|||||
16.Taxation
|
|||||
17.Retirement Benefits
|
|||||
18.Decommissioning and Other Provisions
|
|||||
19.Financial Instruments
|
|||||
20.Share Capital
|
|||||
21.Share-Based Compensation Plans and Share Held In Trust
|
|||||
22.Other Reserves
|
|||||
23.Dividends
|
|||||
24.Earnings Per Share
|
|||||
25.Legal Proceedings and Other Contingencies
|
|||||
26.Employees
|
|||||
27.Directors and Senior Management
|
|||||
28.Auditor's Remuneration
|
|||||
29.Emission Schemes and Related Environmental Plans
|
|||||
30. Post-Balance Sheet Events | |||||
Supplementary information - oil and gas | |||||
Report of Independent Registered Public Accounting Firm | |||||
RDS Dividend Access Trust Financial Statements | |||||
Statement of Income | |||||
Statement of Comprehensive Income | |||||
Balance Sheet | |||||
Statement of Changes in Equity | |||||
Statement of Cash Flows | |||||
Notes to the RDS Dividend Access Trust Financial Statements | |||||
1.The Trust
|
|||||
2.The Basis of Preparation
|
|||||
3.Significant Accounting Policies
|
|||||
4.Unclaimed Dividends
|
|||||
5.Capital Account
|
INTRODUCTION SHELL FORM 20-F 2020 |
6
|
6.Distributions Made
|
|||||
7.Related Parties
|
|||||
8.Audit's Remuneration
|
|||||
Additional Information | |||||
Shareholder information | |||||
Section 13(r) of the US Securities Exchange Act of 1934 disclosure | |||||
Non-GAAP measures reconciliations | |||||
Index to the Exhibits | |||||
Signatures | |||||
Financial Calendar |
INTRODUCTION SHELL FORM 20-F 2020 |
7
|
ABOUT THIS REPORT | |||||
INTRODUCTION SHELL FORM 20-F 2020 |
8
|
INTRODUCTION SHELL FORM 20-F 2020 |
9
|
STRATEGIC REPORT | |||||
SELECTED FINANCIAL DATA
|
|||||
Consolidated Statement of Income and of Comprehensive Income data |
$ million
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Revenue | 180,543 | 344,877 | 388,379 | 305,179 | 233,591 | ||||||||||||
(Loss)/income for the period | (21,534) | 16,432 | 23,906 | 13,435 | 4,777 | ||||||||||||
Income attributable to non-controlling interest | 146 | 590 | 554 | 458 | 202 | ||||||||||||
(Loss)/income attributable to Royal Dutch Shell plc shareholders | (21,680) | 15,842 | 23,352 | 12,977 | 4,575 | ||||||||||||
Comprehensive (loss)/income attributable to Royal Dutch Shell plc shareholders | (23,512) | 13,773 | 24,475 | 18,828 | (1,374) |
Consolidated Balance Sheet data |
$ million
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Total assets | 379,268 | 404,336 | 399,194 | 407,097 | 411,275 | ||||||||||||
Total debt [A]
|
108,014 | 96,424 | 76,824 | 85,665 | 92,476 | ||||||||||||
Net debt [A] | 75,386 | 79,093 | 51,428 | 65,944 | 73,346 | ||||||||||||
Share capital | 651 | 657 | 685 | 696 | 683 | ||||||||||||
Equity attributable to Royal Dutch Shell plc shareholders | 155,310 | 186,476 | 198,646 | 194,356 | 186,646 | ||||||||||||
Non-controlling interest | 3,227 | 3,987 | 3,888 | 3,456 | 1,865 |
Consolidated Statement of Cash Flows data [A] |
$ million
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Cash flow from operating activities | 34,105 | 42,178 | 53,085 | 35,650 | 20,615 | ||||||||||||
Capital expenditure | 16,585 | 22,971 | 23,011 | 20,845 | 22,116 | ||||||||||||
Cash flow from investing activities | 13,278 | 15,779 | 13,659 | 8,029 | 30,963 | ||||||||||||
Cash dividends paid to Royal Dutch Shell plc shareholders | 7,424 | 15,198 | 15,675 | 10,877 | 9,677 | ||||||||||||
Repurchases of shares | 1,702 | 10,188 | 3,947 | — | — |
Earnings per share |
$
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Basic earnings per €0.07 ordinary share | (2.78) | 1.97 | 2.82 | 1.58 | 0.58 | ||||||||||||
Diluted earnings per €0.07 ordinary share | (2.78) | 1.95 | 2.80 | 1.56 | 0.58 |
Dividend per share |
$
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Dividend per share | 0.65 | 1.88 | 1.88 | 1.88 | 1.88 |
Shares |
Million
|
||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Basic weighted average number of A and B shares | 7,795.6 | 8,058.3 | 8,282.8 | 8,223.4 | 7,833.7 | ||||||||||||
Diluted weighted average number of A and B shares | 7,795.6 | 8,112.5 | 8,348.7 | 8,299.0 | 7,891.7 |
INTRODUCTION SHELL FORM 20-F 2020 |
10
|
BUSINESS OVERVIEW | |||||
STRATEGIC REPORT SHELL FORM 20-F 2020 |
11
|
Revenue by business segment
(including inter-segment sales) [A]
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Integrated Gas | |||||||||||
Third parties | 33,287 | 41,322 | 43,764 | ||||||||
Inter-segment | 3,410 | 4,280 | 5,031 | ||||||||
Total | 36,697 | 45,602 | 48,795 | ||||||||
Upstream | |||||||||||
Third parties | 6,767 | 9,482 | 9,459 | ||||||||
Inter-segment | 21,564 | 35,735 | 37,125 | ||||||||
Total | 28,330 | 45,217 | 46,584 | ||||||||
Oil Products | |||||||||||
Third parties | 128,717 | 280,460 | 316,409 | ||||||||
Inter-segment | 6,213 | 7,819 | 10,613 | ||||||||
Total | 134,930 | 288,279 | 327,022 | ||||||||
Chemicals | |||||||||||
Third parties | 11,721 | 13,568 | 18,704 | ||||||||
Inter-segment | 2,850 | 3,917 | 4,864 | ||||||||
Total | 14,571 | 17,485 | 23,568 | ||||||||
Corporate | |||||||||||
Third parties | 51 | 45 | 43 | ||||||||
Total | 51 | 45 | 43 |
Revenue by geographical area (excluding inter-segment sales) [A] | $ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Europe | 50,138 | 98,455 | 118,960 | ||||||||
Asia, Oceania, Africa | 65,139 | 139,916 | 153,716 | ||||||||
USA | 50,856 | 83,212 | 89,876 | ||||||||
Other Americas | 14,410 | 23,294 | 25,827 | ||||||||
Total | 180,543 | 344,877 | 388,379 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
12
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
13
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
14
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
15
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
16
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
17
|
RISK FACTORS | |||||
STRATEGIC REPORT SHELL FORM 20-F 2020 |
18
|
Oil and gas production available for sale
|
Million boe [A] | ||||||||||
2020 | 2019 | 2018 | |||||||||
Shell subsidiaries | 1,104 | 1,182 | 1,179 | ||||||||
Shell share of joint ventures and associates | 135 | 156 | 159 | ||||||||
Total | 1,239 | 1,338 | 1,338 |
Proved developed and undeveloped oil and gas reserves [A][B] (at December 31)
|
Million boe [C] | ||||||||||
December 31, 2020 | December 31, 2019 | December 31, 2018 | |||||||||
Shell subsidiaries | 8,222 | 9,980 | 10,294 | ||||||||
Shell share of joint ventures and associates | 902 | 1,116 | 1,285 | ||||||||
Total | 9,124 | 11,096 | 11,578 | ||||||||
Attributable to non-controlling interest in Shell subsidiaries | 322 | 304 | 331 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
19
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
20
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
21
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
22
|
MARKET OVERVIEW | |||||
Oil and gas average industry prices [A] | |||||||||||
2020 | 2019 | 2018 | |||||||||
Brent ($/b) | 42 | 64 | 71 | ||||||||
West Texas Intermediate ($/b) | 39 | 57 | 65 | ||||||||
Henry Hub ($/MMBtu) | 2.0 | 2.5 | 3.1 | ||||||||
UK National Balancing Point (pence/therm)
|
25 | 35 | 60 | ||||||||
Japan Customs-cleared Crude ($/b) | 46 | 67 | 73 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
23
|
Refining marker average industry gross margins | $/b | ||||||||||
2020 | 2019 | 2018 | |||||||||
US West Coast | 8.5 | 13.5 | 11.5 | ||||||||
US Gulf Coast Coking | 2.3 | 4.9 | 7.0 | ||||||||
Rotterdam Complex | 0.4 | 2.3 | 2.5 | ||||||||
Singapore | (0.5) | (0.6) | 1.4 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
24
|
Cracker industry margins [A]
|
$/tonne | ||||||||||
2020 | 2019 | 2018 | |||||||||
North East/South East Asia naphtha | 362 | 302 | 594 | ||||||||
Western Europe naphtha | 513 | 528 | 562 | ||||||||
US ethane | 433 | 440 | 412 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
25
|
SUMMARY OF RESULTS | |||||
|
$ million, except where indicated
|
||||||||||
2020 | 2019 | 2018 | |||||||||
(Loss)/income for the period | (21,534) | 16,432 | 23,906 | ||||||||
Current cost of supplies adjustment
|
1,833 | (605) | 458 | ||||||||
Total segment earnings [A][B], of which:
|
(19,701) | 15,827 | 24,364 | ||||||||
Integrated Gas
|
(6,278) | 8,628 | 11,444 | ||||||||
Upstream
|
(10,785) | 3,855 | 6,490 | ||||||||
Oil Products | (494) | 6,139 | 6,025 | ||||||||
Chemicals | 808 | 478 | 1,884 | ||||||||
Corporate
|
(2,952) | (3,273) | (1,479) | ||||||||
Identified Items [B] | (24,767) | (1,192) | 2,429 | ||||||||
Adjusted Earnings [B] | 4,846 | 16,462 | 21,404 | ||||||||
Capital expenditure | 16,585 | 22,971 | 23,011 | ||||||||
Cash capital expenditure [B] | 17,827 | 23,919 | 24,078 | ||||||||
Operating expenses [B]
|
34,789 | 37,893 | 39,316 | ||||||||
Return on average capital employed [B]
|
(6.8) | % | 6.7 | % | 9.4 | % | |||||
Net Debt at December 31 [B]
|
75,386 | 79,093 | 51,428 | ||||||||
Gearing at December 31 | 32.2 | % | 29.3 | % | 20.3 | % | |||||
Oil and gas production (thousand boe/d)
|
3,386 | 3,665 | 3,666 | ||||||||
Proved oil and gas reserves at December 31 (million boe)
|
9,124 | 11,096 | 11,578 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
26
|
Oil and gas production
available for sale [A]
|
Thousand boe/d
|
||||||||||
2020 | 2019 | 2018 | |||||||||
Crude oil and natural gas liquids
|
1,752 | 1,823 | 1,749 | ||||||||
Synthetic crude oil
|
51 | 52 | 53 | ||||||||
Natural gas [B]
|
1,583 | 1,790 | 1,863 | ||||||||
Total
|
3,386 | 3,665 | 3,666 | ||||||||
Of which:
|
|||||||||||
Integrated Gas
|
911 | 922 | 957 | ||||||||
Upstream
|
2,424 | 2,691 | 2,656 | ||||||||
Oil sands (reported as part of Oil Products) | 51 | 52 | 53 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
27
|
PERFORMANCE INDICATORS | |||||
Total shareholder return (%)*
|
||||||||||||||||||||
2020 | (32.7) | 2019 | 0.5 |
Cash flow from operating activities ($ million)*
|
||||||||||||||||||||
2020 | 34,105 | 2019 | 42,178 |
Free cash flow ($ million)*
|
||||||||||||||||||||
2020 | 20,828 | 2019 | 26,399 |
Organic free cash flow ($ million)
|
|||||||||||||||||
2020 | 17,634 | 2019 | 20,116 |
Return on average capital employed (%)*
|
||||||||||||||||||||
2020 | (6.8) | 2019 | 6.7 |
Adjusted earnings ($ million)
|
|||||||||||||||||
2020 | 4,846 | 2019 | 16,462 |
Adjusted earnings per share ($)
|
|||||||||||||||||
2020 | 0.62 | 2019 | 2.04 |
Divestment proceeds ($ million)
|
|||||||||||||||||
2020 | 4,010 | 2019 | 7,871 |
Cash capital expenditure ($ million)
|
|||||||||||||||||
2020 | 17,827 | 2019 | 23,919 |
Net debt ($ million)
|
|||||||||||||||||
2020 | 75,386 | 2019 | 79,093 |
Gearing (%)
|
|||||||||||||||||
2020 | 32.2 | 2019 | 29.3 |
Production available for sale (thousand boe/d)*
|
||||||||||||||||||||
2020 | 3,386 | 2019 | 3,665 |
LNG liquefaction volumes (million tonnes)*
|
||||||||||||||||||||
2020 | 33.2 | 2019 | 35.6 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
28
|
Refinery and chemical plant availability (%)*
|
||||||||||||||||||||
2020 | 95.5 | 2019 | 90.8 |
Project delivery on schedule (%)*
|
||||||||||||||||||||
2020 | 48 | 2019 | 90 | |||||||||||||||||
Project delivery on budget (%)*
|
||||||||||||||||||||
2020 | 104 | 2019 | 99 |
Proved oil and gas reserves (million boe)
|
|||||||||||||||||
2020 | 9,124 | 2019 | 11,096 |
Total recordable case frequency (injuries per million working hours)*
|
||||||||||||||||||||
2020 | 0.7 | 2019 | 0.9 |
Number of operational Tier 1 and 2 process safety events*
|
||||||||||||||||||||
2020 | 103 | 2019 | 130 |
Upstream and Integrated Gas GHG intensity (tonnes of CO₂ equivalent/tonne of hydrocarbon production available for sale)*
|
||||||||||||||||||||
2020 | 0.16 | 2019 | 0.17 |
Refining GHG intensity (tonnes of CO₂ equivalent/UEDCTM)*
|
||||||||||||||||||||
2020 | 1.05 | 2019 | 1.06 |
Chemicals GHG intensity (tonnes of CO₂ equivalent/tonne petrochemicals produced)*
|
||||||||||||||||||||
2020 | 0.98 | 2019 | 1.04 |
Number of operational spills of more than 100 kilograms
|
|||||||||||||||||
2020 | 68 | 2019 | 67 |
Direct GHG emissions (million tonnes of CO₂ equivalent)
|
|||||||||||||||||
2020 | 63 | 2019 | 70 |
Net Carbon Footprint (grams of CO₂ equivalent per megajoule)*
|
||||||||||||||||||||
2020 | 75 | 2019 | 78 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
29
|
$ million, except where indicated | |||||||||||
2020 | 2019 | 2018 | |||||||||
Segment earnings | (6,278) | 8,628 | 11,444 | ||||||||
Including: | |||||||||||
Revenue (including inter-segment sales) | 36,697 | 45,602 | 48,795 | ||||||||
Share of profit of joint ventures and associates | 562 | 1,791 | 2,273 | ||||||||
Interest and other income | 14 | 263 | 2,230 | ||||||||
Operating expenses [A] | 6,555 | 6,667 | 6,014 | ||||||||
Exploration | 611 | 281 | 208 | ||||||||
Depreciation, depletion and amortisation | 17,704 | 6,238 | 4,850 | ||||||||
Taxation charge | (2,507) | 2,242 | 2,795 | ||||||||
Identified Items [A] | (10,661) | (326) | 2,045 | ||||||||
Adjusted Earnings [A] | 4,383 | 8,955 | 9,399 | ||||||||
Capital expenditure | 3,661 | 3,851 | 3,262 | ||||||||
Cash capital expenditure [A] | 4,301 | 4,299 | 3,819 | ||||||||
Oil and gas production available for sale (thousand boe/d) | 911 | 922 | 957 | ||||||||
LNG liquefaction volumes (million tonnes) | 33.2 | 35.6 | 34.3 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
30
|
Million tonnes | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Australia | 11.8 | 12.5 | 12.1 | ||||||||||||||
Brunei | 1.6 | 1.6 | 1.6 | ||||||||||||||
Egypt | 0.2 | 0.4 | 0.3 | ||||||||||||||
Malaysia | — | — | 0.6 | [A] | |||||||||||||
Nigeria | 5.3 | 5.3 | 5.1 | ||||||||||||||
Norway | 0.1 | 0.1 | 0.1 | ||||||||||||||
Oman | 2.5 | 2.6 | 2.4 | ||||||||||||||
Peru | 0.9 | 0.9 | 0.8 | ||||||||||||||
Qatar | 2.4 | 2.5 | 2.3 | ||||||||||||||
Russia | 3.1 | 3.0 | 3.1 | ||||||||||||||
Trinidad and Tobago | 5.4 | 6.7 | 5.8 | ||||||||||||||
United States | 0.1 | 0.1 | — | ||||||||||||||
Total | 33.2 | 35.6 | 34.3 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
31
|
Asset | Location | Shell interest (%) | 100% capacity (mtpa) [A] | Shell-operated | ||||||||||||||||
Europe | ||||||||||||||||||||
Norway | Gasnor | Bergen | 100 | 0.3 | Yes | |||||||||||||||
Asia | ||||||||||||||||||||
Brunei | Brunei LNG | Lumut | 25 | 7.6 | No | |||||||||||||||
Oman | Oman LNG | Sur | 30 | 7.1 | No | |||||||||||||||
Qalhat LNG | Sur | 11 | [B] | 3.7 | No | |||||||||||||||
Qatar | Qatargas 4 [C] | Ras Laffan | 30 | 7.8 | No | |||||||||||||||
Russia | Sakhalin LNG [C] | Prigorodnoye | 27.5 | 10.9 | No | |||||||||||||||
Oceania | ||||||||||||||||||||
Australia | Australia North West Shelf [C] | Karratha | 16.7 | 16.9 | No | |||||||||||||||
Gorgon LNG [C] | Barrow Island | 25 | 15.6 | No | ||||||||||||||||
Prelude [C] [D] | Browse Basin | 67.5 | 3.6 | Yes | ||||||||||||||||
Queensland Curtis LNG T1 [C] | Curtis Island | 50 | 4.3 | Yes | ||||||||||||||||
Queensland Curtis LNG T2 [C] | Curtis Island | 97.5 | 4.3 | Yes | ||||||||||||||||
Africa | ||||||||||||||||||||
Egypt [E] | Egyptian LNG T1 | Idku | 35.5 | 3.6 | No | |||||||||||||||
Egyptian LNG T2 | Idku | 38 | 3.6 | No | ||||||||||||||||
Nigeria | Nigeria LNG | Bonny | 25.6 | 24.1 | No | |||||||||||||||
South America | ||||||||||||||||||||
Peru | Peru LNG | Pampa Melchorita | 20 | 4.5 | No | |||||||||||||||
Trinidad and Tobago | Atlantic LNG T1 | Point Fortin | 46 | 3 | No | |||||||||||||||
Atlantic LNG T2/T3 | Point Fortin | 57.5 | 6.6 | No | ||||||||||||||||
Atlantic LNG T4 | Point Fortin | 51.1 | 5.2 | No |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
32
|
Asset | Location | Shell interest (%) | 100% capacity (mtpa) [A] | Shell-operated | ||||||||||||||||
Africa | ||||||||||||||||||||
Nigeria | Train 7 [B] | Bonny | 25.6 | 7.6 | No | |||||||||||||||
North America | ||||||||||||||||||||
Canada | LNG Canada T1-2 [C] | Kitimat | 40.0 | 14.0 | No |
Asset | Location | Shell interest (%) | 100% capacity (b/d) [A] | Shell-operated | ||||||||||||||||
Asia | ||||||||||||||||||||
Malaysia | Shell MDS | Bintulu | 72.0 | 14,700 | Yes | |||||||||||||||
Qatar | Pearl | Ras Laffan | 100.0 | 140,000 | Yes |
Project name | Location | Shell capacity rights (mtpa) | Capacity rights period | Status | Shell interest (%) and Rights | ||||||||||||
Altamira | Tamaulipas, Mexico | 3.3 [A] | 2006–2021 | In operation | Leased | ||||||||||||
Costa Azul | Baja California, Mexico | 2.7 | 2008–2028 | In operation | Leased | ||||||||||||
Cove Point | Lusby, MD, USA | 1.8 | 2003–2023 | In operation | Leased | ||||||||||||
Dragon LNG | Milford Haven, UK | 3.1 | 2009–2029 | In operation | 50 | ||||||||||||
Elba Island Expansion | Elba Island, GA, USA | 4.2 | 2010–2035 | In operation | Leased | ||||||||||||
Elba Island | Elba Island, GA, USA | 2.8 | 2006–2036 | In operation | Leased | ||||||||||||
Elba Island | Elba Island, GA, USA | 4.6 | 2003–2027 | In operation | Leased | ||||||||||||
GATE (Gas Access to Europe) | Rotterdam, The Netherlands | 1.5 | 2015–2031 | In operation | Capacity rights | ||||||||||||
Shell Energy India Pvt Ltd (formerly Hazira) | Gujarat, India | 5 | 2005–2035 | In operation | 100 | ||||||||||||
Lake Charles | Lake Charles, LA, USA | 4.4 | 2002–2030 | In operation | Leased | ||||||||||||
Lake Charles Expansion | Lake Charles, LA, USA | 8.7 | 2005–2030 | In operation | Leased | ||||||||||||
Singapore SGM | SLNG, Singapore | up to 3.0 [B] | 2013–2029 | In operation | Import rights | ||||||||||||
Singapore SETL | SLNG, Singapore | up to 1.0 [C] | 2018–2035 | In operation | Import rights | ||||||||||||
Shell LNG Gibraltar | Gibraltar | up to 0.04 | 2018–2038 | In operation | 51 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
33
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
34
|
Project | Location | Shell interest (%) | 100% capacity (MW) | Type | Theme | Shell-operated | ||||||||||||||
Silicon Ranch | USA | 46.47 | 1,130 | Solar Developer | Solar | No | ||||||||||||||
Cleantech Solar | Asia | 24.5 [A] | 252 | Solar Developer | Solar | No | ||||||||||||||
Moerdijk | The Netherlands | 100 | 27 | Solar Operations | Solar | Yes | ||||||||||||||
Noordzee Wind NL | The Netherlands | 50 | 108 | Offshore Wind JV | Offshore wind | No | ||||||||||||||
Brazos, TX | USA | 100 | 160 | Onshore wind Operations | Onshore wind | Yes | ||||||||||||||
Whitewater Hill, CA | USA | 50 | 61.5 | Onshore wind Operations | Onshore wind | No | ||||||||||||||
Rock River, WY | USA | 50 | 49 | Onshore wind Operations | Onshore wind | No | ||||||||||||||
Cabazon Pass, CA | USA | 50 | 41 | Onshore wind Operations | Onshore wind | No | ||||||||||||||
Sohar Solar Quabas | Oman | 100 | 34 | Solar Development | Solar | Yes | ||||||||||||||
Emmen | The Netherlands | 100 | 12 | Solar Development | Solar | Yes | ||||||||||||||
Heerenveen | The Netherlands | 100 | 14.5 | Solar Development | Solar | Yes |
Project | Location | Shell interest (%) | 100% capacity (MW) | Type | Theme | Shell-operated | ||||||||||||||
Gangarri | Australia | 100 | 120 | Solar Development | Solar | Yes | ||||||||||||||
Silicon Ranch [A] | USA | 46.47 | 1,744 | Solar Developer | Solar | No | ||||||||||||||
Cleantech Solar [A] | Asia | 24.5 [B] | 174 | Solar Developer | Solar | No | ||||||||||||||
CrossWind | The Netherlands | 79.9 | 759 | Offshore Wind Development | Offshore wind | No | ||||||||||||||
Borssele III and IV | The Netherlands | 20 | 731.5 | Offshore Wind Development | Offshore wind | No | ||||||||||||||
Sas van Gent | The Netherlands | 100 | 29.6 | Solar Development | Solar | Yes |
Project | Location | Shell interest (%) | 100% capacity (MW) | Type | Theme | Shell-operated | ||||||||||||||
GBI | France | 29.5 | 28.5 | Offshore Wind JV | Offshore wind | Yes | ||||||||||||||
Mayflower | USA | 50 | 1,600 | Offshore Wind JV | Offshore wind | No | ||||||||||||||
Atlantic Shores | USA | 50 | 2,500 | Offshore Wind JV | Offshore wind | No | ||||||||||||||
Pottendijk | The Netherlands | 100 | 100 | Solar and Onshore Wind | Onshore Renewable Power | Yes |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
35
|
UPSTREAM
|
|||||
|
|||||||||||
|
$ million, except where indicated
|
||||||||||
2020 | 2019 | 2018 | |||||||||
Segment earnings
|
(10,785) | 3,855 | 6,490 | ||||||||
Including:
|
|||||||||||
Revenue (including inter-segment sales)
|
28,330 | 45,217 | 46,584 | ||||||||
Share of profit of joint ventures and associates
|
(7) | 379 | 285 | ||||||||
Interest and other income
|
542 | 2,180 | 605 | ||||||||
Operating expenses [A]
|
10,983 | 11,582 | 11,690 | ||||||||
Exploration
|
1,136 | 2,073 | 1,132 | ||||||||
Depreciation, depletion and amortisation
|
23,119 | 16,881 | 12,871 | ||||||||
Taxation charge/(credit)
|
(467) | 5,878 | 8,756 | ||||||||
Identified Items [A] | (7,933) | (598) | 19 | ||||||||
Adjusted Earnings [A] | (2,852) | 4,452 | 6,472 | ||||||||
Capital expenditure | 6,911 | 10,003 | 12,002 | ||||||||
Cash capital expenditure [A]
|
7,296 | 10,205 | 12,134 | ||||||||
Oil and gas production available for sale (thousand boe/d)
|
2,424 | 2,691 | 2,656 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
36
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
37
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
38
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
39
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
40
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
41
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
42
|
OIL AND GAS INFORMATION | |||||
Proved developed and undeveloped reserves of Shell subsidiaries and Shell share of joint ventures and associates | |||||||||||||||||
Crude oil and natural gas liquids (million barrels) | Synthetic crude oil (million barrels) | Bitumen (million barrels) | Natural gas (thousand million scf) | Total (million boe)[A] | |||||||||||||
Shell subsidiaries | |||||||||||||||||
Increase/(decrease) in 2020: | |||||||||||||||||
Revisions and reclassifications | (63) | 57 | — | (3,477) | (607) | ||||||||||||
Improved recovery | — | — | — | — | — | ||||||||||||
Extensions and discoveries | 48 | — | — | 228 | 88 | ||||||||||||
Purchases and sales of minerals in place | 8 | — | — | (599) | (95) | ||||||||||||
Total before taking production into account | (7) | 57 | — | (3,848) | (614) | ||||||||||||
Production [B] | (606) | (20) | — | (3,012) | (1,144) | ||||||||||||
Total | (613) | 37 | — | (6,860) | (1,758) | ||||||||||||
At January 1, 2020 | 4,374 | 607 | — | 28,992 | 9,980 | ||||||||||||
At December 31, 2020 | 3,761 | 644 | — | 22,132 | 8,222 | ||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||
Increase/(decrease) in 2020: | |||||||||||||||||
Revisions and reclassifications | (32) | — | — | (234) | (73) | ||||||||||||
Improved recovery | — | — | — | — | — | ||||||||||||
Extensions and discoveries | 1 | — | — | 2 | 1 | ||||||||||||
Purchases and sales of minerals in place | — | — | — | — | — | ||||||||||||
Total before taking production into account | (31) | — | — | (232) | (72) | ||||||||||||
Production [C] | (36) | — | — | (615) | (142) | ||||||||||||
Total | (67) | — | — | (847) | (214) | ||||||||||||
At January 1, 2020 | 283 | — | — | 4,829 | 1,116 | ||||||||||||
At December 31, 2020 | 216 | — | — | 3,982 | 902 | ||||||||||||
Total | |||||||||||||||||
Increase/(decrease) before taking production into account | (38) | 57 | — | (4,080) | (686) | ||||||||||||
Production | (642) | (20) | — | (3,627) | (1,286) | ||||||||||||
Increase/(decrease) | (680) | 37 | — | (7,707) | (1,972) | ||||||||||||
At January 1, 2020 | 4,657 | 607 | — | 33,821 | 11,096 | ||||||||||||
At December 31, 2020 | 3,977 | 644 | — | 26,114 | 9,124 | ||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31, 2020 | — | 322 | — | — | 322 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
43
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
44
|
Summary of proved oil and gas reserves of Shell subsidiaries and Shell share of joint ventures and associates (at December 31, 2020) | ||||||||||||||
Based on average prices for 2020 | ||||||||||||||
Crude oil and natural gas liquids (million barrels) | Natural gas (thousand million scf) | Synthetic crude oil (million barrels) | Total (million boe)[A] | |||||||||||
Proved developed | ||||||||||||||
Europe | 108 | 1,817 | — | 421 | ||||||||||
Asia | 1,609 | 12,850 | — | 3,825 | ||||||||||
Oceania | 68 | 3,699 | — | 707 | ||||||||||
Africa | 316 | 1,341 | — | 548 | ||||||||||
North America | ||||||||||||||
USA | 539 | 669 | — | 654 | ||||||||||
Canada | 12 | 720 | 644 | 780 | ||||||||||
South America | 675 | 925 | — | 834 | ||||||||||
Total proved developed | 3,327 | 22,021 | 644 | 7,769 | ||||||||||
Proved undeveloped | ||||||||||||||
Europe | 76 | 886 | — | 229 | ||||||||||
Asia | 174 | 755 | — | 304 | ||||||||||
Oceania | 5 | 520 | — | 93 | ||||||||||
Africa | 63 | 1,022 | — | 239 | ||||||||||
North America | ||||||||||||||
USA | 189 | 132 | — | 212 | ||||||||||
Canada | 3 | 575 | — | 102 | ||||||||||
South America | 140 | 203 | — | 176 | ||||||||||
Total proved undeveloped | 650 | 4,093 | — | 1,355 | ||||||||||
Total proved developed and undeveloped | ||||||||||||||
Europe | 184 | 2,703 | — | 650 | ||||||||||
Asia | 1,783 | 13,605 | — | 4,129 | ||||||||||
Oceania | 73 | 4,219 | — | 800 | ||||||||||
Africa | 379 | 2,363 | — | 787 | ||||||||||
North America | ||||||||||||||
USA | 728 | 801 | — | 866 | ||||||||||
Canada | 15 | 1,295 | 644 | 882 | ||||||||||
South America | 815 | 1,128 | — | 1,010 | ||||||||||
Total | 3,977 | 26,114 | 644 | 9,124 | ||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries | — | — | 322 | 322 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
45
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
46
|
LOCATION OF OIL AND GAS EXPLORATION AND PRODUCTION ACTIVITIES | |||||||||||
Location of oil and gas exploration and production activities [A] (at December 31, 2020) | |||||||||||
Exploration | Development and/or Production | Shell operator [B] | |||||||||
Europe | |||||||||||
Albania | ● | ● | |||||||||
Bulgaria | ● | ● | |||||||||
Cyprus | ● | ||||||||||
Germany | ● | ● | |||||||||
Italy | ● | ● | |||||||||
Netherlands | ● | ● | ● | ||||||||
Norway | ● | ● | ● | ||||||||
UK | ● | ● | ● | ||||||||
Asia | |||||||||||
Brunei | ● | ● | ● | ||||||||
China | ● | ● | |||||||||
Indonesia | ● | ||||||||||
Kazakhstan | ● | ● | |||||||||
Malaysia | ● | ● | ● | ||||||||
Myanmar | ● | ||||||||||
Oman | ● | ● | ● | ||||||||
Philippines | ● | ● | ● | ||||||||
Qatar | ● | ● | |||||||||
Russia | ● | ● | |||||||||
Turkey | ● | ● | |||||||||
Oceania | |||||||||||
Australia | ● | ● | ● | ||||||||
Africa | |||||||||||
Egypt | ● | ● | ● | ||||||||
Mauritania | ● | ● | |||||||||
Morocco | ● | ||||||||||
Namibia | ● | ● | |||||||||
Nigeria | ● | ● | ● | ||||||||
Sao Tome and Principe | ● | ||||||||||
South Africa | ● | ● | |||||||||
Tanzania | ● | ● | |||||||||
Tunisia | ● | ● | |||||||||
North America - USA | |||||||||||
Mexico | ● | ● | |||||||||
USA | ● | ● | ● | ||||||||
North America - Canada | |||||||||||
Canada | ● | ● | ● | ||||||||
South America | |||||||||||
Argentina | ● | ● | ● | ||||||||
Bolivia | ● | ● | ● | ||||||||
Brazil | ● | ● | ● | ||||||||
Colombia | ● | ● | |||||||||
Suriname | ● | ● | |||||||||
Trinidad & Tobago | ● | ● | ● | ||||||||
Uruguay | ● | ● |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
47
|
OIL AND GAS PRODUCTION AVAILABLE FOR SALE
|
||||||||||||||||||||||||||
Crude oil and natural gas liquids [A] | Thousand barrels | |||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
|||||||||||||||||||||
Europe | ||||||||||||||||||||||||||
Denmark | — | — | 7,490 | — | 13,036 | — | ||||||||||||||||||||
Italy | 11,342 | — | 9,747 | — | 10,921 | — | ||||||||||||||||||||
Norway | 6,914 | — | 7,025 | — | 13,528 | — | ||||||||||||||||||||
UK | 30,061 | — | 30,677 | — | 31,431 | — | ||||||||||||||||||||
Other [B] | 609 | 1,084 | 723 | 1,135 | 795 | 1,417 | ||||||||||||||||||||
Total Europe | 48,926 | 1,084 | 55,662 | 1,135 | 69,711 | 1,417 | ||||||||||||||||||||
Asia | ||||||||||||||||||||||||||
Brunei | 387 | 17,094 | 196 | 20,002 | 283 | 18,738 | ||||||||||||||||||||
Kazakhstan | 37,769 | — | 34,269 | — | 32,432 | — | ||||||||||||||||||||
Malaysia | 18,494 | — | 21,993 | — | 24,650 | — | ||||||||||||||||||||
Oman | 74,854 | — | 76,493 | — | 76,847 | — | ||||||||||||||||||||
Russia | 20,816 | 9,050 | 22,442 | 9,413 | 22,003 | 10,403 | ||||||||||||||||||||
Other [B] | 30,101 | 7,629 | 28,796 | 7,709 | 28,769 | 7,768 | ||||||||||||||||||||
Total Asia | 182,421 | 33,773 | 184,189 | 37,124 | 184,984 | 36,909 | ||||||||||||||||||||
Total Oceania [B] | 7,416 | — | 10,058 | — | 8,883 | — | ||||||||||||||||||||
Africa | ||||||||||||||||||||||||||
Nigeria | 48,620 | — | 56,589 | — | 53,102 | — | ||||||||||||||||||||
Other [B] | 8,485 | — | 7,802 | — | 8,265 | — | ||||||||||||||||||||
Total Africa | 57,105 | — | 64,391 | — | 61,367 | — | ||||||||||||||||||||
North America | ||||||||||||||||||||||||||
USA | 165,169 | — | 171,204 | — | 140,035 | — | ||||||||||||||||||||
Canada | 8,128 | — | 11,506 | — | 13,111 | — | ||||||||||||||||||||
Total North America | 173,297 | — | 182,710 | — | 153,146 | — | ||||||||||||||||||||
South America | ||||||||||||||||||||||||||
Brazil | 131,339 | — | 126,366 | — | 118,681 | — | ||||||||||||||||||||
Other [B] | 5,072 | 729 | 3,900 | — | 3,414 | — | ||||||||||||||||||||
Total South America | 136,411 | 729 | 130,266 | — | 122,095 | — | ||||||||||||||||||||
Total | 605,576 | 35,586 | 627,276 | 38,259 | 600,186 | 38,326 |
Synthetic crude oil | Thousand barrels | |||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Shell
subsidiaries |
Shell
subsidiaries |
Shell
subsidiaries |
||||||||||||||||||||||||
North America - Canada | 18,920 | 19,076 | 19,514 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
48
|
Natural gas [A] |
Million standard cubic feet
|
|||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||
Shell
subsidiaries
|
Shell share of
joint ventures
and associates
|
Shell
subsidiaries
|
Shell share of
joint ventures
and associates
|
Shell
subsidiaries
|
Shell share of
joint ventures
and associates
|
|||||||||||||||
Europe
|
||||||||||||||||||||
Denmark
|
— | — | 24,433 | — | 45,027 | — | ||||||||||||||
Germany
|
35,918 | — | 41,846 | — | 40,368 | — | ||||||||||||||
Ireland
|
— | — | — | — | 44,833 | — | ||||||||||||||
Netherlands
|
— | 131,648 | — | 244,286 | — | 271,303 | ||||||||||||||
Norway
|
187,627 | — | 182,683 | — | 239,253 | — | ||||||||||||||
UK
|
65,012 | — | 62,174 | — | 82,695 | — | ||||||||||||||
Other [B]
|
13,005 | — | 15,062 | — | 16,422 | — | ||||||||||||||
Total Europe
|
301,562 | 131,648 | 326,198 | 244,286 | 468,598 | 271,303 | ||||||||||||||
Asia
|
— | — | ||||||||||||||||||
Brunei
|
21,025 | 159,846 | 22,185 | 160,648 | 21,205 | 157,476 | ||||||||||||||
China
|
46,750 | — | 44,510 | — | 42,419 | — | ||||||||||||||
Kazakhstan
|
86,999 | — | 84,499 | — | 78,575 | — | ||||||||||||||
Malaysia
|
226,791 | — | 226,277 | — | 237,102 | — | ||||||||||||||
Philippines
|
40,549 | — | 44,374 | — | 44,017 | — | ||||||||||||||
Russia
|
4,301 | 142,418 | 4,563 | 134,807 | 4,044 | 136,652 | ||||||||||||||
Thailand
|
— | — | — | — | 25,973 | — | ||||||||||||||
Other [B]
|
411,979 | 118,153 | 407,899 | 118,253 | 378,785 | 117,976 | ||||||||||||||
Total Asia
|
838,394 | 420,417 | 834,307 | 413,708 | 832,120 | 412,104 | ||||||||||||||
Oceania
|
— | — | ||||||||||||||||||
Australia
|
633,580 | 20,646 | 686,956 | 20,840 | 648,735 | 18,923 | ||||||||||||||
New Zealand
|
— | — | — | — | 40,153 | — | ||||||||||||||
Total Oceania
|
633,580 | 20,646 | 686,956 | 20,840 | 688,888 | 18,923 | ||||||||||||||
Africa
|
— | — | ||||||||||||||||||
Egypt
|
104,946 | — | 92,169 | — | 148,721 | — | ||||||||||||||
Nigeria
|
190,982 | — | 234,332 | — | 232,899 | — | ||||||||||||||
Other [B]
|
27,438 | — | 30,266 | — | 30,669 | — | ||||||||||||||
Total Africa
|
323,366 | — | 356,767 | — | 412,289 | — | ||||||||||||||
North America
|
— | — | ||||||||||||||||||
USA
|
255,383 | — | 389,130 | — | 355,075 | — | ||||||||||||||
Canada
|
164,451 | — | 220,005 | — | 247,890 | — | ||||||||||||||
Total North America
|
419,834 | — | 609,135 | — | 602,965 | — | ||||||||||||||
South America
|
— | — | ||||||||||||||||||
Bolivia
|
45,015 | — | 48,501 | — | 55,480 | — | ||||||||||||||
Brazil
|
73,914 | — | 78,526 | — | 68,865 | — | ||||||||||||||
Trinidad and Tobago
|
141,576 | — | 159,698 | — | 104,454 | — | ||||||||||||||
Other [B]
|
9,609 | 830 | 8,662 | — | 8,062 | — | ||||||||||||||
Total South America
|
270,114 | 830 | 295,387 | — | 236,861 | — | ||||||||||||||
Total
|
2,786,850 | 573,541 | 3,108,750 | 678,834 | 3,241,721 | 702,330 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
49
|
AVERAGE REALISED PRICE BY GEOGRAPHICAL AREA | ||||||||||||||||||||||||||||||||
Crude oil and natural gas liquids | $/barrel | |||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
|||||||||||||||||||||||||||
Europe | 39.51 | 39.05 | 65.11 | 58.08 | 68.23 | 64.24 | ||||||||||||||||||||||||||
Asia | 38.73 | 42.51 | 58.16 | 65.25 | 64.06 | 70.66 | ||||||||||||||||||||||||||
Oceania | 21.29 | — | 51.51 | — | 61.63 | — | ||||||||||||||||||||||||||
Africa | 41.23 | — | 65.39 | — | 71.02 | — | ||||||||||||||||||||||||||
North America - USA | 34.17 | — | 54.56 | — | 61.87 | — | ||||||||||||||||||||||||||
North America - Canada | 27.17 | — | 36.61 | — | 43.72 | — | ||||||||||||||||||||||||||
South America | 36.01 | 37.28 | 56.68 | — | 62.67 | — | ||||||||||||||||||||||||||
Total | 36.72 | 42.31 | 57.56 | 65.05 | 63.96 | 70.43 |
Synthetic crude oil | $/barrel | |||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||
Shell
subsidiaries |
Shell
subsidiaries |
Shell
subsidiaries |
||||||||||||||||||||||||||||||
North America - Canada | 31.13 | 50.27 | 48.90 |
Natural gas | $/thousand scf | |||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
|||||||||||||||||||||||||||
Europe | 3.66 | 3.76 | 5.59 | 4.95 | 7.08 | 4.06 | ||||||||||||||||||||||||||
Asia | 2.68 | 4.19 | 2.66 | 6.34 | 2.99 | 7.06 | ||||||||||||||||||||||||||
Oceania | 6.21 | 3.15 | 8.22 | 3.91 | 8.66 | 4.15 | ||||||||||||||||||||||||||
Africa | 2.55 | — | 2.92 | — | 3.02 | — | ||||||||||||||||||||||||||
North America - USA | 1.72 | — | 2.27 | — | 3.12 | — | ||||||||||||||||||||||||||
North America - Canada | 1.61 | — | 1.37 | — | 1.35 | — | ||||||||||||||||||||||||||
South America | 1.35 | 1.90 | 2.33 | — | 3.50 | — | ||||||||||||||||||||||||||
Total | 3.31 | 4.06 | 3.95 | 5.80 | 4.63 | 5.74 |
AVERAGE PRODUCTION COST BY GEOGRAPHICAL AREA | ||||||||||||||||||||||||||
Crude oil, natural gas liquids and natural gas [A] | $/boe | |||||||||||||||||||||||||
2020 | 2019 | 2018 | ||||||||||||||||||||||||
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
Shell
subsidiaries |
Shell share of
joint ventures and associates |
|||||||||||||||||||||
Europe | 20.50 | 11.44 | 14.14 | 5.76 | 15.03 | 6.37 | ||||||||||||||||||||
Asia | 5.54 | 6.83 | 6.30 | 6.17 | 6.52 | 6.24 | ||||||||||||||||||||
Oceania | 8.92 | 20.23 | 9.17 | 24.49 | 8.41 | 32.18 | ||||||||||||||||||||
Africa | 9.43 | — | 8.44 | — | 8.25 | — | ||||||||||||||||||||
North America - USA | 12.50 | — | 11.78 | — | 12.78 | — | ||||||||||||||||||||
North America - Canada | 10.52 | — | 11.88 | — | 11.58 | — | ||||||||||||||||||||
South America | 5.12 | — | 6.26 | — | 8.60 | — | ||||||||||||||||||||
Total | 8.49 | 6.94 | 8.95 | 6.48 | 9.66 | 6.81 |
Synthetic crude oil | $/barrel | ||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||
Shell
subsidiaries |
Shell
subsidiaries |
Shell
subsidiaries |
|||||||||||||||||||||||||||
North America - Canada | 18.28 | 19.29 | 20.15 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
50
|
OIL PRODUCTS | |||||
$ million, except where indicated | |||||||||||
2020 | 2019 | 2018 | |||||||||
Segment earnings [A] | (494) | 6,139 | 6,025 | ||||||||
Including: | |||||||||||
Revenue (including inter-segment sales) | 134,930 | 288,279 | 327,022 | ||||||||
Share of profit of joint ventures and associates [A] | 988 | 1,179 | 1,101 | ||||||||
Interest and other income | (93) | 273 | 393 | ||||||||
Operating expenses [B] | 13,511 | 15,730 | 17,615 | ||||||||
Depreciation, depletion and amortisation | 10,473 | 4,461 | 3,165 | ||||||||
Taxation charge [A] | (898) | 1,319 | 1,211 | ||||||||
Identified Items [B] | (6,489) | (93) | 231 | ||||||||
Adjusted Earnings [B] | 5,995 | 6,231 | 5,794 | ||||||||
Capital expenditure | 3,236 | 4,654 | 4,389 | ||||||||
Cash capital expenditure [B] | 3,328 | 4,907 | 4,643 | ||||||||
Refinery utilisation (%) [C] | 72 | 78 | 78 | ||||||||
Refinery processing intake (thousand b/d) | 2,063 | 2,564 | 2,648 | ||||||||
Oil Products sales volumes (thousand b/d) | 4,710 | 6,561 | 6,783 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
51
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
52
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
53
|
|
$/barrel | ||||||||||
2020 | 2019 | 2018 | |||||||||
Total | 35.03 | 54.97 | 59.94 |
Thousand b/stream day [B] | |||||||||||
2020 | 2019 | 2018 | |||||||||
Europe | 1,059 | 1,057 | 1,056 | ||||||||
Asia | 573 | 767 | 767 | ||||||||
Africa | 90 | 90 | 90 | ||||||||
Americas | 1,028 | 1,171 | 1,261 | ||||||||
Total | 2,750 | 3,085 | 3,174 |
Thousand b/d | |||||||||||
2020 | 2019 | 2018 | |||||||||
Europe | 810 | 829 | 897 | ||||||||
Asia | 292 | 498 | 545 | ||||||||
Africa | 54 | 55 | 66 | ||||||||
Americas | 719 | 1,004 | 1,041 | ||||||||
Total | 1,875 | 2,386 | 2,549 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
54
|
Thousand b/d | |||||||||||
2020 | 2019 | 2018 | |||||||||
Crude oil | 1,876 | 2,342 | 2,434 | ||||||||
Feedstocks | 187 | 222 | 214 | ||||||||
Total | 2,063 | 2,564 | 2,648 | ||||||||
Europe | 854 | 875 | 896 | ||||||||
Asia | 302 | 517 | 543 | ||||||||
Africa | 54 | 55 | 66 | ||||||||
Americas | 853 | 1,117 | 1,143 | ||||||||
Total | 2,063 | 2,564 | 2,648 |
Thousand b/d | |||||||||||
2020 | 2019 | 2018 | |||||||||
Gasolines | 771 | 952 | 966 | ||||||||
Kerosines | 158 | 417 | 321 | ||||||||
Gas/Diesel oils | 774 | 818 | 965 | ||||||||
Fuel oil | 140 | 223 | 284 | ||||||||
Other | 279 | 282 | 321 | ||||||||
Total | 2,122 | 2,692 | 2,858 |
Thousand b/d | |||||||||||
2020 | 2019 | 2018 | |||||||||
Europe | |||||||||||
Gasolines | 224 | 334 | 323 | ||||||||
Kerosines | 165 | 317 | 294 | ||||||||
Gas/Diesel oils | 610 | 720 | 745 | ||||||||
Fuel oil | (42) | 138 | 178 | ||||||||
Other products | (19) | 278 | 314 | ||||||||
Total | 938 | 1,787 | 1,854 | ||||||||
Asia | |||||||||||
Gasolines | 346 | 408 | 373 | ||||||||
Kerosines | 98 | 208 | 210 | ||||||||
Gas/Diesel oils | 455 | 535 | 543 | ||||||||
Fuel oil | 308 | 330 | 407 | ||||||||
Other products | 383 | 518 | 620 | ||||||||
Total | 1,590 | 2,000 | 2,153 | ||||||||
Africa | |||||||||||
Gasolines | 43 | 46 | 42 | ||||||||
Kerosines | 11 | 13 | 10 | ||||||||
Gas/Diesel oils | 59 | 70 | 74 | ||||||||
Fuel oil | 1 | 2 | 2 | ||||||||
Other products | 6 | 6 | 6 | ||||||||
Total | 120 | 137 | 134 | ||||||||
Americas | |||||||||||
Gasolines | 1,136 | 1,419 | 1,446 | ||||||||
Kerosines | 103 | 239 | 236 | ||||||||
Gas/Diesel oils | 496 | 582 | 567 | ||||||||
Fuel oil | 87 | 120 | 117 | ||||||||
Other products | 240 | 277 | 276 | ||||||||
Total | 2,062 | 2,637 | 2,642 | ||||||||
Total product sales [C][D] | |||||||||||
Gasolines | 1,749 | 2,207 | 2,184 | ||||||||
Kerosines | 377 | 777 | 750 | ||||||||
Gas/Diesel oils | 1,620 | 1,907 | 1,929 | ||||||||
Fuel oil | 354 | 590 | 704 | ||||||||
Other products | 610 | 1,079 | 1,216 | ||||||||
Total | 4,710 | 6,561 | 6,783 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
55
|
Thousand barrels/stream day, 100% capacity [B] | |||||||||||||||||||||||
Location | Asset class |
Shell interest (%)
[A] |
Crude
distillation capacity |
Thermal
cracking/ visbreaking/ coking |
Catalytic
cracking |
Hydro-
cracking |
|||||||||||||||||
Europe | |||||||||||||||||||||||
Denmark | Fredericia | • | 100 | 74 | 44 | — | — | ||||||||||||||||
Germany | Miro [C] | 32 | 313 | 40 | 96 | — | |||||||||||||||||
Rheinland | ■• | 100 | 354 | 49 | — | 90 | |||||||||||||||||
Schwedt [C] | 38 | 233 | 45 | 59 | — | ||||||||||||||||||
Netherlands | Pernis | ■• | 100 | 443 | — | 53 | 103 | ||||||||||||||||
Asia | |||||||||||||||||||||||
Singapore | Pulau Bukom [D] | ■• | 100 | 504 | 81 | 38 | 61 | ||||||||||||||||
Africa | |||||||||||||||||||||||
South Africa | Durban [C] | ◆ | 36 | 180 | 25 | 37 | — | ||||||||||||||||
Americas | |||||||||||||||||||||||
Argentina | Buenos Aires [C] | •◆ | 50 | 108 | 20 | 22 | — | ||||||||||||||||
Canada | |||||||||||||||||||||||
Alberta | Scotford | ◆ | 100 | 100 | — | — | 83 | ||||||||||||||||
Ontario | Sarnia | ◆ | 100 | 85 | 5 | 21 | 10 | ||||||||||||||||
USA | |||||||||||||||||||||||
Louisiana | Norco | ■ | 100 | 250 | 29 | 119 | 44 | ||||||||||||||||
Texas | Deer Park | ■• | 50 | 341 | 96 | 75 | 60 | ||||||||||||||||
Washington | Puget Sound | •◆ | 100 | 149 | 25 | 58 | — |
2020 | 2019 | 2018 | |||||||||
Europe | 8,071 | 7,978 | 7,888 | ||||||||
Asia [B] | 10,387 | 10,138 | 9,754 | ||||||||
Oceania [B] | 1,071 | 1,038 | 1,030 | ||||||||
Africa | 2,622 | 2,494 | 2,502 | ||||||||
Americas | 23,461 | 23,021 | 23,223 | ||||||||
Total | 45,612 | 44,669 | 44,397 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
56
|
CHEMICALS
|
|||||
$ million, except where indicated | |||||||||||
2020 | 2019 | 2018 | |||||||||
Segment earnings [A] | 808 | 478 | 1,884 | ||||||||
Including: | |||||||||||
Revenue (including inter-segment sales) | 14,571 | 17,485 | 23,568 | ||||||||
Share of profit of joint ventures and associates [A] | 567 | 546 | 684 | ||||||||
Interest and other income | — | (7) | (53) | ||||||||
Operating expenses [B] | 3,235 | 3,430 | 3,594 | ||||||||
Depreciation, depletion and amortisation | 1,116 | 1,074 | 1,034 | ||||||||
Taxation charge [A] | 7 | (2) | 339 | ||||||||
Identified Items [B] | (154) | (263) | (192) | ||||||||
Adjusted Earnings [B] | 962 | 741 | 2,076 | ||||||||
Capital expenditure | 2,608 | 4,068 | 3,140 | ||||||||
Cash capital expenditure [B] | 2,640 | 4,090 | 3,212 | ||||||||
Chemical plant utilisation(%) [C] | 80 | 76 | 84 | ||||||||
Chemicals sales volumes (thousand tonnes) | 15,036 | 15,223 | 17,644 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
57
|
Thousand tonnes/year | |||||||||||
2020 | 2019 | 2018 | |||||||||
Europe | 1,701 | 1,701 | 1,701 | ||||||||
Asia | 2,530 | 2,530 | 2,529 | ||||||||
Americas | 2,268 | 2,268 | 2,268 | ||||||||
Total | 6,499 | 6,499 | 6,498 |
Chemicals sales volumes [A] | 2020 | 2019 | 2018 | ||||||||
Europe | |||||||||||
Base chemicals | 3,490 | 3,666 | 4,069 | ||||||||
Intermediates and others | 1,990 | 1,872 | 1,994 | ||||||||
Total | 5,480 | 5,538 | 6,063 | ||||||||
Asia | |||||||||||
Base chemicals | 1,192 | 1,057 | 2,140 | ||||||||
Intermediates and others | 2,969 | 2,848 | 3,082 | ||||||||
Total | 4,161 | 3,905 | 5,222 | ||||||||
Americas | |||||||||||
Base chemicals | 2,936 | 3,261 | 3,842 | ||||||||
Intermediates and others | 2,459 | 2,519 | 2,517 | ||||||||
Total | 5,395 | 5,780 | 6,359 | ||||||||
Total product sales | |||||||||||
Base chemicals | 7,618 | 7,984 | 10,051 | ||||||||
Intermediates and others | 7418 | 7239 | 7593 | ||||||||
Total | 15,036 | 15,223 | 17,644 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
58
|
Thousand tonnes/year, Shell share capacity [B] | ||||||||||||||||||||
Location | Ethylene |
Styrene
monomer |
Ethylene
glycol |
Higher olefins
[C] |
Additional
products |
|||||||||||||||
Europe | ||||||||||||||||||||
Germany | Rheinland | 315 | — | — | — | A | ||||||||||||||
Netherlands | Moerdijk | 971 | 815 | 153 | — | A, I | ||||||||||||||
UK | Mossmorran [D] | 415 | — | — | — | — | ||||||||||||||
Asia | ||||||||||||||||||||
China | Nanhai [D] | 1,100 | 650 | 415 | — | A, I, P | ||||||||||||||
Singapore | Jurong Island [E] | 281 | 1,069 | 1,159 | — | A, I, P, O | ||||||||||||||
Pulau Bukom | 1,149 | — | — | — | A, I | |||||||||||||||
Americas | ||||||||||||||||||||
Canada | Scotford | — | 475 | 548 | — | A, I | ||||||||||||||
USA | Deer Park | 836 | — | — | — | A, I | ||||||||||||||
Geismar | — | — | 400 | 1,390 | I | |||||||||||||||
Norco | 1,432 | — | — | — | A | |||||||||||||||
Total | 6,499 | 3,009 | 2,675 | 1,390 |
Location | Products | |||||||
Europe | ||||||||
Germany | Karlsruhe | A | ||||||
Schwedt | A | |||||||
Netherlands | Pernis | A, I, O | ||||||
Americas | ||||||||
Argentina | Buenos Aires | I | ||||||
Canada | Sarnia | A, I | ||||||
USA | Mobile | A | ||||||
Puget Sound | I |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
59
|
CORPORATE | |||||
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Segment earnings | (2,952) | (3,273) | (1,479) | ||||||||
Comprising: | |||||||||||
Net interest [A] | (2,991) | (3,080) | (2,075) | ||||||||
Taxation and other [B] | 39 | (194) | 596 | ||||||||
Identified Items | 460 | 109 | 327 | ||||||||
Adjusted Earnings | (3,412) | (3,383) | (1,806) |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
60
|
LIQUIDITY AND CAPITAL RESOURCES | |||||
$ million | ||||||||
December 31, 2020 | December 31, 2019 | |||||||
Equity attributable to Royal Dutch Shell plc shareholders | 155,310 | 186,476 | ||||||
Current debt | 16,899 | 15,064 | ||||||
Non-current debt | 91,115 | 81,360 | ||||||
Total debt [A] | 108,014 | 96,424 | ||||||
Total capitalisation | 263,324 | 282,900 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
61
|
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Integrated Gas | 503 | 723 | 3,156 | ||||||||
Upstream | 1,909 | 5,384 | 3,364 | ||||||||
Oil Products | 1,368 | 1,517 | 540 | ||||||||
Chemicals | 26 | 22 | 1 | ||||||||
Corporate | 205 | 225 | 3,405 | ||||||||
Total divestment proceeds | 4,010 | 7,871 | 10,465 |
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Integrated Gas | 4,301 | 4,299 | 3,819 | ||||||||
Upstream | 7,296 | 10,205 | 12,134 | ||||||||
Oil Products | 3,328 | 4,907 | 4,643 | ||||||||
Chemicals | 2,640 | 4,090 | 3,212 | ||||||||
Corporate | 262 | 418 | 269 | ||||||||
Total cash capital expenditure | 17,827 | 23,919 | 24,078 |
Cash flow information [A] | $ billion | ||||||||||||||||
|
2020 | 2019 |
|
2018 | |||||||||||||
Cash flow from operating activities excluding working capital movements | |||||||||||||||||
Integrated Gas
|
10.8 | 14.8 | 16.3 | ||||||||||||||
Upstream
|
9.8 | 19.9 | 21.4 | ||||||||||||||
Oil Products | 7.0 | 10.7 | 8.5 | ||||||||||||||
Chemicals | 1.8 | 1.7 | 2.8 | ||||||||||||||
Corporate
|
0.1 | (0.3) | 0.7 | ||||||||||||||
Total | 29.5 | 47.0 | 49.7 | ||||||||||||||
(Increase)/decrease in inventories | 4.5 | (2.6) | 2.8 | ||||||||||||||
(Increase)/decrease in current receivables | 9.6 | (0.9) | 2.0 | ||||||||||||||
Increase/(decrease) in current payables | (9.5) | (1.2) | (1.3) | ||||||||||||||
(Increase)/decrease in working capital | 4.6 | (4.8) | 3.4 | ||||||||||||||
Cash flow from operating activities | 34.1 | 42.2 | 53.1 | ||||||||||||||
Cash flow from investing activities | (13.3) | (15.8) | (13.7) | ||||||||||||||
Cash flow from financing activities | (7.2) | (35.2) | (32.5) | ||||||||||||||
Currency translation differences relating to cash and cash equivalents | 0.2 | 0.1 | (0.4) | ||||||||||||||
Increase/(decrease) in cash and cash equivalents | 13.8 | (8.7) | 6.4 | ||||||||||||||
Cash and cash equivalents at the beginning of the year | 18.1 | 26.7 | 20.3 | ||||||||||||||
Cash and cash equivalents at the end of the year | 31.8 | 18.1 | 26.7 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
62
|
Purchases of equity securities by issuer and affiliated purchasers in 2020 [A] | |||||||||||||||||||||||||||||
A shares
|
B shares
|
A ADSs [B] | |||||||||||||||||||||||||||
Purchase period
|
Number
purchased
for employee
share plans
|
Number
purchased
for cancellation
[C]
|
Weighted
average
price ($)[D]
|
Number
purchased
for employee
share plans
|
Number purchased for cancellation [C]
|
Weighted
average
price ($)[D]
|
Number
purchased
for employee
share plans
|
Weighted
average
price ($)[D]
|
|||||||||||||||||||||
January [E] | — | 23,106,521 | 29.63 | — | — | — | 1,003,452 | 59.76 | |||||||||||||||||||||
February
|
— | 11,306,918 | 25.32 | — | 5,518,503 | 24.45 | — | — | |||||||||||||||||||||
March
|
— | 12,229,299 | 18.48 | — | 9,904,356 | 14.88 | 133,692 | 31.25 | |||||||||||||||||||||
April
|
813,021 | 3,905,280 | 18.19 | 1,874,926 | 7,800,412 | 17.31 | — | — | |||||||||||||||||||||
May
|
— | — | — | — | — | — | — | — | |||||||||||||||||||||
June
|
— | — | — | — | — | — | 20,109 | 35.09 | |||||||||||||||||||||
July
|
— | — | — | — | — | — | — | — | |||||||||||||||||||||
August
|
— | — | — | — | — | — | — | — | |||||||||||||||||||||
September
|
— | — | — | — | — | — | 26,570 | 26.74 | |||||||||||||||||||||
October
|
— | — | — | — | — | — | — | — | |||||||||||||||||||||
November
|
3,244,447 | — | 15.68 | 113,348 | — | 13.9 | 1,509,662 | 31.36 | |||||||||||||||||||||
December
|
2,783,283 | — | 18.52 | — | — | — | 934,246 | 36.87 | |||||||||||||||||||||
Total 2020 | 6,840,751 | 50,548,018 | 24.14 | 1,988,274 | 23,223,271 | 17.9 | 3,627,731 | 40.62 | |||||||||||||||||||||
January
|
— | — | — | — | — | 1,525,265 | 37.23 | ||||||||||||||||||||||
Total 2021 | — | — | — | — | — | — | 1,525,265 | 37.23 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
63
|
$ billion | |||||||||||||||||
Less than 1 year |
Between
1 and 3 years |
Between
3 and 5 years |
5 years
and later |
Total | |||||||||||||
Debt [A] | 12.8 | 10.3 | 12.9 | 42.3 | 78.3 | ||||||||||||
Leases | 6.1 | 9.6 | 7.1 | 20.0 | 42.8 | ||||||||||||
Purchase obligations [B] | 21.4 | 24.9 | 18.1 | 47.8 | 112.2 | ||||||||||||
Other long-term contractual liabilities [C] | 0.1 | 0.7 | 0.6 | 1.2 | 2.6 | ||||||||||||
Total | 40.4 | 45.5 | 38.7 | 111.3 | 235.9 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
64
|
ENVIRONMENT AND SOCIETY | |||||
STRATEGIC REPORT SHELL FORM 20-F 2020 |
65
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
66
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
67
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
68
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
69
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
70
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
71
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
72
|
CLIMATE CHANGE AND ENERGY TRANSITION | |||||
STRATEGIC REPORT SHELL FORM 20-F 2020 |
73
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
74
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
75
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
76
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
77
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
78
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
79
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
80
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
81
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
82
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
83
|
2018 | 2019 | 2020 | ||||||||||||
Scope 1 [A] |
million tonnes CO₂
|
71 | 70 | 63 | ||||||||||
Scope 2 [B] |
million tonnes CO₂
|
11 | 10 | 9 | ||||||||||
Scope 3 [C] |
million tonnes CO₂
|
1637 | 1551 | 1305 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
84
|
Greenhouse gas emissions
|
||||||||
2020 | 2019 | |||||||
Emissions (million tonnes of CO2 equivalent)
|
||||||||
Total global direct (Scope 1) [A] | 63 | 70 | ||||||
UK including offshore area [B] | 2.0 | 2.1 | ||||||
Total global energy indirect (Scope 2) [C] | 9 | 10 | ||||||
UK including offshore area [D] | 0.0 | 0.0 | ||||||
Intensity ratio (tonne/tonne) | ||||||||
All facilities [E] | 0.25 | 0.24 |
2020 | 2019 | |||||||
Own energy generated and consumed | ||||||||
Total energy generated and consumed | 202 | 220 | ||||||
UK including offshore area | 7.6 | 7.6 | ||||||
Purchased and consumed energy | ||||||||
Total purchased and consumed energy | 38 | 44 | ||||||
UK including offshore area | 0.2 | 0.2 | ||||||
Energy consumption | ||||||||
Total energy consumed | 240 | 264 | ||||||
UK including offshore area | 7.8 | 7.8 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
85
|
OUR PEOPLE
|
|||||
Actual number of employees by geographical area
|
Thousand | ||||||||||||||||
2020 | 2019 | 2018 [A] | |||||||||||||||
Europe | 27 | 27 | 24 | ||||||||||||||
Asia | 31 | 31 | 28 | ||||||||||||||
Oceania | 3 | 2 | 2 | ||||||||||||||
Africa | 4 | 4 | 4 | ||||||||||||||
North America | 20 | 21 | 21 | ||||||||||||||
South America | 2 | 2 | 2 | ||||||||||||||
Total | 87 | 87 | 81 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
86
|
Number | ||||||||||||||
Men | Women | |||||||||||||
Directors of the Company | 8 | 62 | % | 5 | 38 | % | ||||||||
Senior managers [A] | 632 | 71 | % | 258 | 29 | % | ||||||||
Employees (thousand) | 59 | 68 | % | 28 | 32 | % |
Local national coverage (at December 31) | |||||||||||
Number of selected key business countries | |||||||||||
December 31, 2020 | December 31, 2019 | December 31, 2018 | |||||||||
Greater than 80% | 10 | 12 | 10 | ||||||||
Less than 80% | 10 | 8 | 10 | ||||||||
Total | 20 | 20 | 20 |
STRATEGIC REPORT SHELL FORM 20-F 2020 |
87
|
STRATEGIC REPORT SHELL FORM 20-F 2020 |
88
|
THE BOARD OF ROYAL DUTCH SHELL PLC | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
89
|
GOVERNANCE SHELL FORM 20-F 2020 |
90
|
GOVERNANCE SHELL FORM 20-F 2020 |
91
|
GOVERNANCE SHELL FORM 20-F 2020 |
92
|
GOVERNANCE SHELL FORM 20-F 2020 |
93
|
GOVERNANCE SHELL FORM 20-F 2020 |
94
|
SENIOR MANAGEMENT | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
95
|
Executive Committee | |||||
Ben van Beurden | CEO [A] [B] | ||||
Jessica Uhl | CFO [A] [B] | ||||
Harry Brekelmans | Projects & Technology Director [B] | ||||
Ronan Cassidy | Chief Human Resources & Corporate Officer [B] | ||||
Donny Ching | Legal Director [B] | ||||
Wael Sawan | Upstream Director [B] | ||||
Huibert Vigeveno | Downstream Director [B] | ||||
Maarten Wetselaar |
Integrated Gas, Renewables and Energy Solutions Director [B]
|
GOVERNANCE SHELL FORM 20-F 2020 |
96
|
GOVERNANCE SHELL FORM 20-F 2020 |
97
|
GOVERNANCE SHELL FORM 20-F 2020 |
98
|
Senior Succession and Resourcing Review | ||
The annual Senior Succession and Resourcing Review focused on the strength of senior leadership and plans for its development and succession, while highlighting the breadth, depth and diversity of its pipeline, the developing profile of the leadership cadre, and recruitment and attrition levels.
|
||
The Nomination and Succession Committee noted the effectiveness of succession planning, the impact of its associated execution, and the professional, data-driven, integrated approach to leadership and leadership development. It welcomed the continued focus on performance management, proactive management of Shell’s talent pipeline, and the focus on advancing Shell’s diversity agenda with increased attention on race. Overall this year’s insights provided a deeper understanding of the interplay between culture, identity, leadership talent and employee engagement across Shell.
|
GOVERNANCE SHELL FORM 20-F 2020 |
99
|
GOVERNANCE SHELL FORM 20-F 2020 |
100
|
Risks | ||
The Board reviews reports on strategic and conduct and culture risks annually, and considers reports on operational risks twice a year. These reports assess current business activities against risk appetite.
|
||
Chief Ethics and Compliance Officer Report
|
||
Data and insights include information from the Global Helpline, Shell Ethics and Compliance organisation and the Shell People Survey. SESCo continues to strongly support the work of the Chief Ethics and Compliance Officer, including the efforts to ensure a safe working environment where staff feel confident to raise any concerns in good faith.
|
||
The Audit Committee is kept updated when matters highlighted through the Global Helpline are investigated, and on the associated remediation. For more information see page 111 of the Audit Committee report.
|
||
Assurance activities | ||
Assurance activities, including items raised by businesses and functions (through the Group Assurance Letters process) and independent assurance (from Internal Audit, HSSE, Ethics and Compliance, Reserves Assurance and Reporting), provide additional evident to the Board of the commitment to high standards of risk management and internal control. The assurance activities ensure that work can be done safely, within regulatory frameworks.
|
||
The information provided within these reports further supports the Board’s annual review of the effectiveness of the Group’s system of risk management and internal control and feeds into the Group scorecard, against which staff bonuses are calculated.
|
GOVERNANCE SHELL FORM 20-F 2020 |
101
|
GOVERNANCE SHELL FORM 20-F 2020 |
102
|
Committee Member | Member since | Maximum possible meetings | Number of meetings attended | % of meetings attended | ||||||||||
Chad Holliday (Chair of the Committee) | May 19, 2015 | 7 | 7 | 100% | ||||||||||
Euleen Goh | July 1, 2019 | 7 | 7 | 100% | ||||||||||
Gerard Kleisterlee [A] | May 23, 2018 | 3 | 2 | 66.6% | ||||||||||
Sir Andrew Mackenzie | Oct 1, 2020 | 2 | 2 | 100% | ||||||||||
Sir Nigel Sheinwald | May 20, 2020 | 4 | 4 | 100% | ||||||||||
Linda Stuntz [A] | June 1, 2016 | 3 | 3 | 100% |
GOVERNANCE SHELL FORM 20-F 2020 |
103
|
Succession [A] | Topic of discussion/Example of Board activity | ||||
Recommendation |
Appointment of Dick Boer, Martina Hund-Mejean, Sir Andrew Mackenzie and Abraham (Bram) Schot to the Board.
Changes to the composition of the Board committees. |
||||
Review and oversight | Royal Dutch Shell Senior Succession and Resourcing Review. | ||||
Oversight |
Royal Dutch Shell People Strategy including culture and identity.
End-to-end talent management in Royal Dutch Shell. |
||||
Engagement | Talent engagements | ||||
Governance | Topic of discussion/Example of Board activity | ||||
Governing the Board and its committees |
Reviewed its Principles for the Strategic Composition of the Board.
Reviewed its Terms of Reference, and the terms of Reference for other Board committees and the matters reserved to the Board. |
||||
Regulation, legislation and other governance-related guidance |
Key governance matters affecting the Company’s external reporting.
Other governance and regulatory changes agreed or proposed and their impact or potential impact on the Company, its processes and its reporting. |
||||
RDS matters |
Considered any potential conflicts of interest and the independence of the Non-executive Directors.
Review of additional external appointments requested by Directors, with specific focus on the time allocated to all commitments. For Executive Directors, the benefit/relevance to the business of the Director undertaking the additional role is also a key consideration. Determined the process for the 2020 internal Board Evaluation. |
||||
Board membership and other appointments | Topic of discussion/Example of Board activity | ||||
Directors’ tenure, external commitments, conflicts of interests and succession planning | Non-executive Director appointments and changes to Committee membership. | ||||
Talent overview and senior succession review | Topic of discussion/Example of Board activity | ||||
RDS Senior Succession and Resourcing Review covering Executive Director and Executive Committee (EC) succession, EC direct reports, the senior executive group and the overall talent pipeline |
Enhanced insight of Shell talent and future leaders.
Assurance of robust succession and contingency plans. |
GOVERNANCE SHELL FORM 20-F 2020 |
104
|
GOVERNANCE SHELL FORM 20-F 2020 |
105
|
Committee Member | Member since | Maximum possible meetings | Number of meetings attended | % of meetings attended | ||||||||||
Sir Nigel Sheinwald (Chair of the Committee) | July 1, 2012 | 5 | 5 | 100% | ||||||||||
Neil Carson | June 1, 2019 | 5 | 5 | 100% | ||||||||||
Ann Godbehere | May 20, 2020 | 3 | 3 | 100% | ||||||||||
Catherine J. Hughes | November 1, 2017 | 5 | 5 | 100% | ||||||||||
Bram Schot | October 1, 2020 | 1 | 1 | 100% | ||||||||||
Linda Stuntz [A] | May 23, 2018 | 2 | 2 | 100% |
GOVERNANCE SHELL FORM 20-F 2020 |
106
|
GOVERNANCE SHELL FORM 20-F 2020 |
107
|
AUDIT COMMITTEE REPORT | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
108
|
Committee Member | Member since | Maximum possible meetings | Number of meetings attended | % of meetings attended | ||||||||||
Ann Godbehere (Chair) | May 23, 2018 | 6 | 6 | 100% | ||||||||||
Dick Boer [A]
|
May 20, 2020 | 3 | 3 | 100% | ||||||||||
Martina Hund-Mejean [B]
|
May 20, 2020 | 3 | 3 | 100% | ||||||||||
Roberto Setubal [C] | October 1, 2017 | 3 | 3 | 100% | ||||||||||
Gerrit Zalm | March 8, 2017 | 6 | 6 | 100% |
GOVERNANCE SHELL FORM 20-F 2020 |
109
|
GOVERNANCE SHELL FORM 20-F 2020 |
110
|
GOVERNANCE SHELL FORM 20-F 2020 |
111
|
Activities performed | Frequency | ||||
Risk Management and Internal Control | |||||
Reviewed the policies and practices and monitored the effectiveness relating to Shell’s risk management and internal control system. | P | ||||
Received briefings on regulatory developments. | P | ||||
Reviewed management's SOX 404 assessment. | A | ||||
Discussed significant matters arising from completed internal audits with the Chief Internal Auditor, management and the external auditors. | Q | ||||
Assessed management’s response to significant audit findings, recommendations and notable control weaknesses, including potential improvements and agreed actions. | P | ||||
Reviewed significant legal matters with Shell’s Legal Director. | Q | ||||
Considered the oil and gas reserves control framework. | A | ||||
Reviewed Shell’s information risk management. | P | ||||
Reviewed Shell’s tax function, key tax risks and Shell’s approach to the evolving area of tax transparency. | P | ||||
Financial Reporting | |||||
Reviewed Shell’s accounting policies and practices, including compliance with accounting and reporting standards. | Q | ||||
Assessed the appropriateness of key judgements and the interpretation and application of accounting principles. | Q | ||||
Considered the integrity of the year-end financial statements and recommended to the Board whether the audited financial statements should be included in the Annual and statutory reports. | A | ||||
Considered the integrity of the half-yearly report and quarterly financial statements. | Q | ||||
Reviewed management’s assessment of going concern and longer-term viability. | Q | ||||
Reviewed Shell’s policies with respect to earnings releases; financial performance information and earnings guidance; and significant financial reporting matters. | Q | ||||
Reviewed Shell’s policies with respect to oil and gas reserves accounting and reporting including the outcome of the oil and gas reserves booking/debooking process. | A | ||||
Reviewed the internal controls for financial reporting. | P | ||||
Advised the Board of the AC’s view on whether, taken as a whole, the Annual Report is fair, balanced and understandable and provides the information necessary for shareholders to assess Shell’s position and performance, business model and strategy. | A | ||||
Compliance and Governance | |||||
Monitored the receipt, retention, investigation and follow-up actions of complaints received, including those from the Shell Global Helpline. | P | ||||
Reviewed with the Chief Ethics and Compliance Officer the implementation and effectiveness of the ethics and compliance programme and function. | A | ||||
Discussed compliance with applicable external legal and regulatory requirements. | P | ||||
Performed an evaluation of the AC’s performance and effectiveness and reported the results to the Board. | A | ||||
Reviewed and updated the AC’s Terms of Reference. | A | ||||
Reviewed the Chief Financial Officer’s significant business and investment transactions for potential conflicts or related party transactions. | A | ||||
Assessed the Chief Financial Officer’s performance. | A | ||||
Internal Audit | |||||
Evaluated the quality, efficiency and effectiveness of the internal audit function including the competence, qualifications, expertise, compensation and budget. | A | ||||
Reviewed and approved the internal audit function’s remit, charter and audit plan. | A | ||||
Assessed the performance of the Chief Internal Auditor. | A | ||||
External Audit | |||||
Reviewed and approved the engagement letter for EY's annual audit of the Company's consolidated and parent company financial statements. | A | ||||
Approved the remuneration for audit and non-audit services, including pre-approval of permissible non-audit services. | Q | ||||
Considered the annual external audit plan and monitored the execution and results of the audit. | P | ||||
Monitored the qualifications, expertise, resources and independence of EY. | A | ||||
Reviewed the Company’s representation letter prior to signing by management. | A | ||||
Assessed the performance, objectivity and effectiveness of EY, the audit process, the quality of the audit, EY’s handling of key judgements, and EY’s response to questions from the AC | P | ||||
Recommended to the Board that the reappointment of EY be put to the Company’s shareholders for approval at the AGM. | A |
GOVERNANCE SHELL FORM 20-F 2020 |
112
|
GOVERNANCE SHELL FORM 20-F 2020 |
113
|
GOVERNANCE SHELL FORM 20-F 2020 |
114
|
GOVERNANCE SHELL FORM 20-F 2020 |
115
|
DIRECTORS’ REMUNERATION REPORT | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
116
|
GOVERNANCE SHELL FORM 20-F 2020 |
117
|
GOVERNANCE SHELL FORM 20-F 2020 |
118
|
GOVERNANCE SHELL FORM 20-F 2020 |
119
|
ANNUAL REPORT ON REMUNERATION | |||||
Committee Member | Member since | Maximum possible meetings | Number of meetings attended |
% of
meetings attended |
||||||||||
Neil Carson (Chair) | June 1, 2019 | 5 | 5 | 100% | ||||||||||
Gerard Kleisterlee [A] | May 21, 2014 | 2 | 2 | 100% | ||||||||||
Euleen Goh [B] | May 20, 2020 | 3 | 3 | 100% | ||||||||||
Catherine Hughes | July 26, 2017 | 5 | 5 | 100% | ||||||||||
Sir Nigel Sheinwald [C] | May 24, 2017 | 2 | 2 | 100% | ||||||||||
Gerrit Zalm [D] | May 21, 2014 | 5 | 4 | 80% |
Senior Management | |||||||||||
Executive Directors | Executive Committee | Company Secretary | |||||||||
Performance framework | P | O | O | ||||||||
Remuneration policy | P | P | O | ||||||||
Actual remuneration and benefits | P | P | P | ||||||||
Annual bonus and long-term incentive measures and targets | P | P | P |
GOVERNANCE SHELL FORM 20-F 2020 |
120
|
GOVERNANCE SHELL FORM 20-F 2020 |
121
|
€ thousand | ||||||||||||||||||||||||||
Fees | Taxable benefits [A] | Total | ||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||
Dick Boer [B] | 98 | – | – | – | 98 | – | ||||||||||||||||||||
Neil Carson [C] | 184 | 99 | – | – | 184 | 99 | ||||||||||||||||||||
Ann Godbehere | 206 | 178 | – | – | 206 | 178 | ||||||||||||||||||||
Euleen Goh | 201 | 201 | – | – | 201 | 201 | ||||||||||||||||||||
Charles O. Holliday [D] | 850 | 850 | 69 | 71 | 919 | 921 | ||||||||||||||||||||
Catherine J. Hughes | 180 | 200 | – | – | 180 | 200 | ||||||||||||||||||||
Martina Hund-Mejean [E] | 98 | – | – | – | 98 | – | ||||||||||||||||||||
Gerard Kleisterlee [F] | 93 | 242 | – | – | 93 | 242 | ||||||||||||||||||||
Sir Andrew Mackenzie [G] | 37 | – | – | – | 37 | – | ||||||||||||||||||||
Abraham Schot [H] | 38 | – | – | – | 38 | – | ||||||||||||||||||||
Roberto Setubal [I] | 72 | 190 | 1 | 2 | 73 | 192 | ||||||||||||||||||||
Sir Nigel Sheinwald | 184 | 187 | – | – | 184 | 187 | ||||||||||||||||||||
Linda G. Stuntz [J] | 73 | 189 | 1 | 8 | 74 | 197 | ||||||||||||||||||||
Gerrit Zalm | 177 | 177 | – | – | 177 | 177 |
€ thousand | |||||||||||||||||
Ben van Beurden | Jessica Uhl | ||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||
Salaries [A] | 1,588 | 1,557 | 1,035 | 1,015 | |||||||||||||
Taxable benefits [B] | 16 | 20 | 418 | 326 | |||||||||||||
Pension [C] | 540 | 395 | 288 | 261 | |||||||||||||
Total fixed remuneration | 2,144 | 1,972 | 1,741 | 1,602 | |||||||||||||
Annual bonus [D] | – | 800 | – | 500 | |||||||||||||
LTIP [E] | 3,698 | 7,191 | 1,993 | 3,903 | |||||||||||||
Total variable remuneration | 3,698 | 7,991 | 1,993 | 4,403 | |||||||||||||
Total remuneration | 5,841 | 9,963 | 3,734 | 6,005 | |||||||||||||
in dollars | 6,671 | 11,155 | 4,264 | 6,724 | |||||||||||||
in sterling | 5,197 | 8,746 | 3,322 | 5,271 |
GOVERNANCE SHELL FORM 20-F 2020 |
122
|
Measures [A] | Weight (% of scorecard) | ||||
Cash flow from operating activities ($ billion) | 30% | ||||
Operational excellence | 50% | ||||
Production (kboe/d) | 12.5% | ||||
LNG liquefaction volumes (mtpa) | 12.5% | ||||
Refinery and chemical plant availability (%) | 12.5% | ||||
Project delivery on schedule (%) | 6.25% | ||||
Project delivery on budget (%) | 6.25% | ||||
Sustainable development | 20% | ||||
Total recordable case frequency (injuries/million hours) | 5% | ||||
Operational Tier 1 and 2 process safety events (number) | 5% | ||||
Upstream and Integrated Gas GHG intensity (tonnes of CO₂ equivalent/tonne of hydrocarbon production available for sale) | 4% | ||||
Refining GHG intensity (tonnes CO₂ equivalent per Solomon’s Utilized Equivalent Distillation Capacity (UEDC™)) | 4% | ||||
Chemicals GHG intensity (tonnes CO₂ equivalent/tonne of petrochemicals production) | 2% |
GOVERNANCE SHELL FORM 20-F 2020 |
123
|
GOVERNANCE SHELL FORM 20-F 2020 |
124
|
GOVERNANCE SHELL FORM 20-F 2020 |
125
|
Scheme interest type | Type of interest awarded | End of performance period | Target award [A] | Potential amount vesting | |||||||||||||
Minimum performance (% of shares awarded) [B] | Maximum performance (% of shares of the target award) [A] | ||||||||||||||||
LTIP | Performance shares | December 31, 2022 | Ben van Beurden: 200,589 A shares, equivalent to 3.0 x base salary or €4,764,000. Jessica Uhl: 59,062 A ADS shares, equivalent to 2.7 x base salary or €2,794,500 | 0% | Maximum number of shares vesting is 200% of the shares awarded, before dividends. |
GOVERNANCE SHELL FORM 20-F 2020 |
126
|
GOVERNANCE SHELL FORM 20-F 2020 |
127
|
GOVERNANCE SHELL FORM 20-F 2020 |
128
|
Shareholding guideline (% of base salary) | Value of shares counting towards guideline (% of base salary at December 31, 2020) [A] | |||||||
Ben van Beurden | 700% | 637 | % | |||||
Jessica Uhl | 500% | 333 | % |
10000 | January 1, 2020 | December 31, 2020 | ||||||||||||||||||||||||
A shares | B shares | A shares | B shares | |||||||||||||||||||||||
Executive Directors [A] | ||||||||||||||||||||||||||
Ben van Beurden | 647,426 | – | 866433 | [B] | – | |||||||||||||||||||||
Jessica Uhl | 116,168 | [C] | – | 240557 | [D] | – | ||||||||||||||||||||
Non-executive Directors | ||||||||||||||||||||||||||
Dick Boer | 10000 | [E] | – | 10000 | – | |||||||||||||||||||||
Neil Carson | 16000 | – | 16000 | |||||||||||||||||||||||
Ann Godbehere | – | 4,700 | [F] | – | 10000 | [G] | ||||||||||||||||||||
Euleen Goh | – | 12,895 | – | 12,895 | ||||||||||||||||||||||
Charles O. Holliday | – | 50,000 | [H] | – | 50,000 | [H] | ||||||||||||||||||||
Catherine J. Hughes | 4,080 | 51,904 | [I] | 4,080 | 51,904 | [I] | ||||||||||||||||||||
Martina Hund-Mejean | – | 1578 | [J] | – | 20000 | [K] | ||||||||||||||||||||
Gerard Kleisterlee | 5254 | – | 15254 | [L] | – | |||||||||||||||||||||
Sir Andrew Mackenzie | – | – | – | 10048 | ||||||||||||||||||||||
Abraham Schot [M] | – | – | – | – | ||||||||||||||||||||||
Roberto Setubal | 15400 | [N] | – | 15400 | [O] | – | ||||||||||||||||||||
Sir Nigel Sheinwald | – | 1,124 | – | 1,124 | ||||||||||||||||||||||
Linda G. Stuntz | – | 12400 | [P] | – | 12400 | [Q] | ||||||||||||||||||||
Gerrit Zalm | 2,026 | – | 2,026 | – |
GOVERNANCE SHELL FORM 20-F 2020 |
129
|
Share plan interests [A] | ||||||||||||||||||||||||||
LTIP subject to performance conditions [B] | DBP not subject to performance conditions [C] | Total | ||||||||||||||||||||||||
2020 | 2019 | 2020 | 2019 | 2020 | 2019 | |||||||||||||||||||||
Ben van Beurden [D] | 662,751 | 660,814 | – | 56,783 | 662,751 | 717,597 | ||||||||||||||||||||
Jessica Uhl [E] | 179,565 | 173,509 | – | – | 179,565 | 173,509 |
GOVERNANCE SHELL FORM 20-F 2020 |
130
|
Year | CEO |
Single total figure
of remuneration (€000) |
Annual bonus award
against maximum opportunity |
LTI vesting against maximum opportunity | ||||||||||
2020 | Ben van Beurden | 5,841 | 0 | % | 45 | % | ||||||||
2019 | Ben van Beurden | 9,963 | 21% | 74% | ||||||||||
2018 | Ben van Beurden | 20,138 | 79% | 95% | ||||||||||
2017 | Ben van Beurden | 8,909 | 81% | 35% | ||||||||||
2016 | Ben van Beurden | 8,593 | 66% | 42% | ||||||||||
2015 | Ben van Beurden | 5,576 | 98% | 8% | ||||||||||
2014 | Ben van Beurden [A] | 24,198 | 94% | 49% | ||||||||||
2013 | Peter Voser | 8,456 | 44% | 30% | ||||||||||
2012 | Peter Voser | 18,246 | 83% | 88% | ||||||||||
2011 | Peter Voser | 9,941 | 90% | 30% |
GOVERNANCE SHELL FORM 20-F 2020 |
131
|
RDS employees | UK, US & NL employees | Executive Directors | Non-executive Directors [A] | ||||||||||||||||||||||||||||||||||||||||||||
CEO | CFO | NC | AG | EG | CH | CJH | GK | RS | NS | LS | GZ | ||||||||||||||||||||||||||||||||||||
Salaries | N/A | 3 | % | 2 | % | 2 | % | 86 | % | 16 | % | — | % | — | % | (10) | % | (62) | % | (62) | % | (2) | % | (61) | % | — | % | ||||||||||||||||||||
Taxable benefits | N/A | — | % | (24) | % | 28 | % | — | % | — | % | — | % | (2) | % | — | % | — | % | (64) | % | (100) | % | (93) | % | — | % | ||||||||||||||||||||
Annual bonus | N/A | (100) | % | (100) | % | (100) | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % |
Year | Dividends and share buybacks [A] | Spend on pay (all employees) [B] | |||||||||||||||
$ billion | Annual change | $ billion | Annual change | ||||||||||||||
2020 | 9.1 | (64) | % | 12.1 | (8) | % | |||||||||||
2019 | 25.4 | 26% | 13.2 | (1) | % | ||||||||||||
2018 | 20.2 | 29% | 13.4 | -6% | |||||||||||||
2017 | 15.6 | 4% | 14.3 | -9% | |||||||||||||
2016 | 15 | 25% | 15.7 | -8% |
Thousand | Local | € | $ | ||||||||
Ben van Beurden [A] | 1,313 | 1,313 | 1,615 | ||||||||
Jessica Uhl [B] | 1,247 | 1,014 | 1,247 |
Votes | Number | Percentage | |||||||||
For | 3,806,079,000 | 95.44% | |||||||||
Against | 181,791,609 | 4.56% | |||||||||
Total cast | 3,987,870,609 | [A] | 100.00% | ||||||||
Withheld [B] | 25,782,042 |
Votes | Number | Percentage | |||||||||
For | 3,705,707,055 | 92.91% | |||||||||
Against | 282,966,810 | 7.09% | |||||||||
Total cast | 3,988,673,865 | [A] | 100.00% | ||||||||
Withheld [B] | 24,979,832 |
GOVERNANCE SHELL FORM 20-F 2020 |
132
|
Option | 25th percentile pay ratio | Median pay ratio | 75th percentile pay ratio | ||||||||||||||
2020 | A | 93:1 | 57:1 | 38:1 | |||||||||||||
Total pay and benefits:
Salary: |
£55,584 £49,117 | £90,972 £75,365 | £136,007 £118,291 | ||||||||||||||
2019 | A | 147:1 | 87:1 | 54:1 | |||||||||||||
Total pay and benefits:
Salary: |
£59,419 £40,417 | £100,755 £56,721 | £161,717 £79,991 | ||||||||||||||
2018 | A | 202:1 | 143:1 | 92:1 | |||||||||||||
Total pay and benefits:
Salary: |
£88,112 £53,528 | £124,459 £80,407 | £193,027 £96,074 |
GOVERNANCE SHELL FORM 20-F 2020 |
133
|
GOVERNANCE SHELL FORM 20-F 2020 |
134
|
GOVERNANCE SHELL FORM 20-F 2020 |
135
|
€ | Other fees | ||||||||||
Chair of the Board | 850,000 | Non-executive Directors receive an additional fee of €5,000 for any Board meeting involving intercontinental travel – except for one meeting a year held in a location other than The Hague. | |||||||||
Non-executive Director | 135,000 | ||||||||||
Senior Independent Director | 55,000 | ||||||||||
Audit Committee | |||||||||||
Chair [A] | 60,000 | ||||||||||
Member | 25,000 | ||||||||||
Safety, Environment and Sustainability Committee | |||||||||||
Chair [A] | 35,000 | ||||||||||
Member | 17,250 | ||||||||||
Nomination and Succession Committee | |||||||||||
Chair [A] | 25,000 | ||||||||||
Member | 12,000 | ||||||||||
Remuneration Committee | |||||||||||
Chair [A] | 40,000 | ||||||||||
Member | 17,250 |
GOVERNANCE SHELL FORM 20-F 2020 |
136
|
DIRECTORS’ REMUNERATION POLICY | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
137
|
Remuneration element | Proposed Changes to Policy | Rationale for the change | ||||||
Annual Bonus |
•Reduction of the CEO’s target bonus from 150% to 125%; and
•Removal of the individual performance factor for Executive Directors.
|
▪Simplification: the asymmetry in the CEO’s bonus structure and the inclusion of individual performance factors were creating undue complexity; and
▪Transparency: The annual bonus is now solely linked to the performance of Shell to support clarity and transparency of outcomes.
|
||||||
Long-Term Incentive Plan |
•Reduction of the target LTIP grant from 400% to 300% of base salary; and
•Inclusion of an energy transition metric.
|
•Management of quantum: to moderate the quantum of pay and assist the REMCO in managing the range of outcomes; and
•Alignment to strategy: inclusion of the energy transition metric strengthens the LTIP’s alignment to Shell's strategy and purpose.
|
||||||
Discretion, Malus and Clawback |
•After reviewing the single figure outcomes for the year, the REMCO will consider an adjustment for the purposes of managing remuneration quantum, taking into account performance, the operation of the remuneration structures and any other relevant considerations. An explanation of any discretionary adjustment would be set out in the relevant Director’s Remuneration Report;
•Alignment of malus and clawback provisions so that these are the same. Inclusion of corporate failure as an adjustment event; and
•Amendment of provisions in the share plan such that for future grants, awards may be adjusted for any reason.
|
•Corporate governance: to assist the REMCO in managing the risks from behavioural-based incentive schemes; and
•Management of quantum: to assist the REMCO in managing the range of outcomes.
|
||||||
Pension |
•New Executive Directors who are members of a defined benefit pension arrangement will have their pensionable salary capped at the salary applicable immediately prior to appointment, with the exception of existing US base country participants who will have the bonus removed from the definition of pensionable base salary instead. The Executive Director will join a defined contribution scheme in their base country for contributions made in respect of salary above the defined benefit pensionable salary, or in exceptional circumstances, receive a cash allowance equivalent to the contribution above the cap; and
•For recruitment: Explicit confirmation that new appointees, whether internally promoted or newly hired, will be provided with a pension in line with the wider workforce in their base country.
|
•Management of quantum: to moderate the quantum of pay and assist the REMCO in managing the range of outcomes; and
•Corporate governance: to adopt best practice in line with external guidelines.
|
||||||
Shareholding Requirement |
•CFO requirement increased to 500% of base salary; and
•Extended so it applies for a period of two years post-employment (at the lower of the shareholding requirement or the number of shares held at departure).
|
•Alignment with shareholders: further aligns executives with the long-term interests of shareholders.
|
GOVERNANCE SHELL FORM 20-F 2020 |
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|
Purpose and link to strategy | Maximum opportunity | Operation and performance management | ||||||
Salary and pensionable base salary | ||||||||
Provides a fixed level of earnings to attract and retain Executive Directors. | €2,000,000 |
Reviewed annually with adjustments effective from January 1.
In making salary determinations, the REMCO will consider:
•the market positioning of the compensation packages;
•comparison with Senior Management salaries;
•the employee context, and planned average salary increase for other employees across the Netherlands, the UK and the USA;
•the experience, skills and performance of the Executive Director, or any change in the scope and responsibility of their role;
•general economic conditions, Shell’s financial performance, and governance trends; and
•the impact of salary increases on pension benefits and other elements of the package.
For Executive Directors employed outside their base country, euro base salaries are translated into their home currency for pension purposes. Pensionable base salaries are maintained in line with euro base salaries taking into account exchange rate fluctuations and other factors as determined by the REMCO.
|
||||||
Benefits | ||||||||
Provides benefits, in line with those applicable to the wider workforce, in order to attract and retain Executive Directors. |
The maximum opportunity is the cost of providing the benefit under Shell’s standard policy. These costs can vary.
For certain benefits, for example, relocation and tax equalisation, the maximum opportunity will be the grossed-up cost of meeting the specific Executive Director’s costs. |
Typical benefits include car allowances and home-to-office transport, risk benefits (for example ill-health, disability or death-in-service), security provision, and employer contributions to insurance plans (such as medical). Precise benefits will depend on the Executive Director’s specific circumstances. Post-retirement benefits such as healthcare and ongoing security provision may be applicable. Shell’s mobility policies may apply, such as for relocation and tax return preparation support, as may tax equalisation related to expatriate employment prior to Board appointment, or in other limited circumstances to offset double taxation. The REMCO may adjust the range and scope of the benefits offered in the context of developments for other employees in relevant countries. Personal loans or guarantees are not provided to Executive Directors. | ||||||
Annual bonus | ||||||||
Rewards the delivery of short-term operational targets as derived from Shell’s operating plan.
To reinforce alignment with shareholder interests, 50% is delivered in cash and 50% is delivered in shares. The shares are subject to a three-year holding period, which applies beyond an Executive Director’s tenure. |
Maximum bonus (as a percentage of base salary):
•Chief Executive Officer (CEO): 250%
•Chief Financial Officer (CFO): 240%
Target levels (as a percentage of base salary):
•CEO: 125%
•CFO: 120%
|
•The bonus is determined by reference to performance from January 1 to December 31 each year;
•Annual bonus = base salary x target bonus % x scorecard result (0–2);
•Taking the Shell operating plan into consideration, REMCO sets stretching scorecard targets and weightings which support the delivery of the strategy. Measures are related to financial performance, operational excellence and sustainable development. Indicative weightings are 30%, 50% and 20% respectively. This balance ensures that the achievement of short-term financial performance does not undermine future shareholder value creation;
•Scorecard targets will be disclosed in a subsequent Directors’ Remuneration Report when they are no longer deemed to be commercially sensitive;
•There are no prescribed thresholds or minimum levels of performance that equate to a prescribed payment under the Policy and this structure can result in no bonus being awarded;
•The annual bonus is subject to malus provisions before it is delivered and to clawback provisions thereafter;
•The REMCO retains the ability to adjust performance measure targets and weightings year-by-year within the overall target and maximum payouts approved in the Policy; and
•In the event that another Executive Director joins the Board, the REMCO will determine their target and maximum bonus, which will not exceed the target and maximum for the CEO.
|
GOVERNANCE SHELL FORM 20-F 2020 |
139
|
GOVERNANCE SHELL FORM 20-F 2020 |
140
|
Allianz | Daimler | Rio Tinto | ||||||
AstraZeneca | Diageo | Roche | ||||||
BAT | GlaxoSmithKline | Siemens | ||||||
Bayer | Nestle | Unilever | ||||||
BHP Billiton | Novartis | Vodafone |
GOVERNANCE SHELL FORM 20-F 2020 |
141
|
GOVERNANCE SHELL FORM 20-F 2020 |
142
|
GOVERNANCE SHELL FORM 20-F 2020 |
143
|
GOVERNANCE SHELL FORM 20-F 2020 |
144
|
Component | Approach | Maximum | ||||||
Ongoing remuneration | The salary, benefits, annual bonus, long-term incentives and pension benefits will be positioned and delivered within the framework of the Executive Directors’ remuneration policy. | As stated in the “Executive Directors’ remuneration policy table”. | ||||||
Compensation for the forfeiture of any awards under variable remuneration arrangements | To facilitate external recruitment, one-off compensation in consideration for forfeited awards under variable remuneration arrangements entered into with a previous employer may be required. The REMCO will use its judgement to determine the appropriate level of compensation by matching the value of any lost awards under variable remuneration arrangements with the candidate’s previous employer. This compensation may take the form of a one-off cash payment or an additional award under the LTIP. The compensation can alternatively be based on a newly created long-term incentive plan arrangement where the only participant is the new director. The intention is that any such compensation would, as far as possible, align to the duration and structure of the award being forfeited. | An amount equal to the value of the forfeited variable remuneration awards, as assessed by the REMCO. Consideration will be given to appropriate performance conditions, performance periods and clawback arrangements. | ||||||
Replacement of forfeited entitlements other than any awards under variable remuneration arrangements |
There may also be a need to compensate a new Executive Director in respect of forfeited entitlements other than any awards under variable remuneration arrangements. This could include, for example, pension or contractual entitlements, or other benefits. On recruitment, these entitlements may be replicated within the Executive Directors’ remuneration policy or valued by the REMCO and compensated in cash.
In cases of internal promotion to the Board, any commitments made which cannot be effectively replaced within the Executive Directors’ remuneration policy may, at the REMCO’s discretion, continue to be honoured. |
An amount equal to the value of the forfeited entitlements, as assessed by the REMCO. | ||||||
Exceptional recruitment incentive | Apart from the ongoing annual remuneration package and any compensation in respect of the replacement of forfeited entitlements, there may be circumstances in which the REMCO needs to offer a one-off recruitment incentive in the form of cash or shares to ensure the right external candidate is attracted (e.g. to the industry). The REMCO recognises the importance of internal succession planning but it must also have the ability to compete for talent with other global companies. The necessity and level of this incentive will depend on the individual’s circumstances. The intention will be that this is only used in genuinely exceptional circumstances. | Subject to the limits set out in the “Executive Directors’ remuneration policy table”. | ||||||
Pension |
New appointees will be provided with a pension in line with the wider workforce in their base country. For defined benefit members:
•The pensionable salary is capped at executive committee level pay for defined benefit purposes (with the exception of participants in the US plan where the bonus is removed from the definition of pensionable pay; and
•The member joins an appropriate base country defined contribution mechanism in excess of the cap, or exceptionally a pension cash allowance equivalent to the defined contribution level is payable in excess of the cap.
|
In accordance with the pension provision applicable to the wider workforce in the base country. |
GOVERNANCE SHELL FORM 20-F 2020 |
145
|
Provision | Policy | ||||
Compensation for loss of office |
For Executive Directors appointed between January 1, 2011 and December 31, 2016, employment contracts include a cap on termination payments of one times annual pay (base salary plus target bonus). Delivery of compensation is mitigated by a contractual obligation for the Executive Director to seek alternative employment and Shell’s ability to implement phased payment terms.
For Executive Directors appointed on or after January 1, 2017, the REMCO may offer a termination payment of up to one times base salary (target bonus will not be included). However, REMCO may be obligated to pay statutory compensation over and above the compensation for loss of office to a departing Executive Director who asserts a statutory claim thereto. Delivery of compensation is mitigated by a contractual obligation for the Executive Director to seek alternative employment and Shell’s ability to implement phased payment terms. The provision of standard end-of-employment benefits such as repatriation costs, security provision and outplacement support may also be included, as deemed reasonable by the REMCO. The REMCO may adjust the termination payment for any situation where a full payment is inappropriate, taking into consideration applicable law, corporate governance provisions, the applicability of any statutory compensation and the best interests of Shell and shareholders as a whole. |
||||
Annual bonus |
Any annual bonus in the year of departure is prorated based on service. Depending on the timing of the departure, the REMCO may consider the latest scorecard position or defer payment until the full-year scorecard result is known.
Bonuses delivered in shares represent the bonus which a participant has already earned and carry no further performance conditions; therefore, these shares will be unrestricted at the conclusion of the normal deferral or holding period respectively and no proration will apply. |
||||
LTIP | Outstanding awards are prorated on a monthly basis, by reference to the Executive Director’s service within the performance period. They will generally survive the end of employment and will remain subject to the same vesting performance conditions, and malus and clawback provisions, as if the Executive Director had remained in employment. The three-year holding period will also remain in force for any awards made on or after January 1, 2017. If the participant dies before the end of the performance period, the award will vest at the target level on the date of death. In case of death after the end of the performance period, the award will vest as described in this Policy. |
Fee structure | Approach to setting fees | Other remuneration | ||||||
Non-executive Directors (NEDs) receive a fixed annual fee for their directorship. The size of the fee will differ based on the position on the Board: Chair of the Board fee or standard Non-executive Director fee.
Additional annual fee(s) are payable to any Director who serves as Senior Independent Director, a Board committee chair, or a Board committee member. A NED receives either a chair or member fee for each committee. This means that a chair of a committee does not receive both fees. NEDs receive an additional fee for any Board meeting involving intercontinental travel – except for one meeting a year held in a location other than The Hague. |
The Chair’s fee is determined by the REMCO. The Board determines the fees payable to NEDs. The maximum aggregate annual fees will be within the limit specified by the Articles of Association and in accordance with the NEDs’ responsibilities and time commitments.
The Board reviews NED fees periodically to ensure that they are aligned with those of other major listed companies. |
Business expenses incurred in respect of the performance of their duties as a NED will be paid or reimbursed by Shell. Such expenses could include transport between home and office and occasional business-required partner travel. NEDs may receive a token of recognition on retirement from the board. The maximum value for this is €300. Where required, the Chair is offered Shell-provided accommodation in The Hague. The REMCO has the discretion to offer other benefits to the Chair as appropriate to their circumstances. Where business expenses or benefits create a personal tax liability to the Director, Shell may cover the associated tax.
The Chair and the other NEDs cannot receive awards under any incentive or performance-based remuneration plans, and personal loans or guarantees are not granted to them. NEDs do not accrue any retirement benefits as a result of their non-executive directorships with Shell. NEDs are encouraged to hold shares with a value equivalent to 100% of their fixed annual fee and maintain that holding during their tenure. |
GOVERNANCE SHELL FORM 20-F 2020 |
146
|
GOVERNANCE SHELL FORM 20-F 2020 |
147
|
GOVERNANCE | |||||
GOVERNANCE SHELL FORM 20-F 2020 |
148
|
$ million | |||||||||||||||||
December 31, 2020 | |||||||||||||||||
Maturity Date | Interest Rate | Outstanding Balance | Total Capacity | Available Capacity | |||||||||||||
Ten Year Fixed Facility | June 4, 2029 | 4.18 | % | $ 600 | $ 600 | $ - | |||||||||||
Seven Year Fixed Facility | July 31, 2025 | 4.06 | % | $ 600 | $ 600 | $ - | |||||||||||
Five Year Revolver | July 31, 2023 | 1.20 | % | $ 494 | $ 760 | $ 266 | |||||||||||
Five Year Revolver | December 1, 2022 | 1.21 | % | $ 400 | $ 1,000 | $ 600 | |||||||||||
Five Year Fixed Facility | March 1, 2022 | 3.23 | % | $ 600 | $ 600 | $ - | |||||||||||
2019 Zydeco Revolver | August 6, 2024 | 0.86 | % | $ - | $ 30 | $ 30 | |||||||||||
Total | $2,694 | $ 3,590 | $ 896 |
GOVERNANCE SHELL FORM 20-F 2020 |
149
|
Share class | % | ||||
A | 52.53 | ||||
B | 47.47 | ||||
Sterling deferred | de minimis |
GOVERNANCE SHELL FORM 20-F 2020 |
150
|
GOVERNANCE SHELL FORM 20-F 2020 |
151
|
GOVERNANCE SHELL FORM 20-F 2020 |
152
|
GOVERNANCE SHELL FORM 20-F 2020 |
153
|
GOVERNANCE SHELL FORM 20-F 2020 |
154
|
GOVERNANCE SHELL FORM 20-F 2020 |
155
|
GOVERNANCE SHELL FORM 20-F 2020 |
156
|
GOVERNANCE SHELL FORM 20-F 2020 |
157
|
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | |||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
158
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THE ESTIMATION OF OIL AND GAS RESERVES, INCLUDING RESERVES USED IN THE CALCULATION OF DEPRECIATION, DEPLETION AND AMORTISATION (DD&A), IMPAIRMENT TESTING TO EVALUATE THE RECOVERABLE AMOUNTS OF EXPLORATION AND PRODUCTION ASSETS AND THE ESTIMATION OF DECOMMISSIONING AND RESTORATION (D&R) PROVISIONS | |||||
Description of the matter
|
As described in Note 8 to the Consolidated Financial Statements, at December 31, 2020 Exploration and evaluation (E&E) assets amounted to $9 billion and Production assets amounted to $132 billion. Production assets had an associated DD&A charge of $34 billion. As further described in Note 8, impairment charges of $20 billion of Exploration and production assets were recorded during the year. As described in Note 18 to the Consolidated Financial Statements, D&R provisions amounted to $23 billion. The estimation of oil and gas reserves is a key input to the accounting for DD&A, estimation of the recoverable amount of exploration and production assets and estimation of D&R provisions.
In-year movements of oil and gas reserves consist of revisions of previous estimates resulting from reclassifications, improved recovery assumptions, extensions and discoveries and purchases and sales of reserves in place. Revisions generally arise from new information, for example additional drilling results, changes in production patterns and changes to development plans.
Auditing the estimation of oil and gas reserves is complex, as there is significant estimation uncertainty in assessing the quantities of reserves and resources in place. The estimates are based on a central group of experts’ assessments of petroleum initially in place, production curves and certain other inputs, including forecast production volumes and future capital and operating cost assumptions, all of which are inputs used by reservoir engineers to estimate oil and gas reserves.
|
||||
How we addressed the matter in our audit |
We obtained an understanding of the controls over Shell’s oil and gas reserves' estimation process. We then evaluated the design of these controls and tested their operating effectiveness. For example, we tested management’s controls over review of changes to year-on-year estimated oil and gas reserves volumes.
We involved professionals with substantial oil and gas reserves and valuation experience and relevant qualifications in energy economics to assist us in evaluating the key assumptions and methodologies applied by management. Our procedures included, amongst others, testing that significant additions or reductions in reserves had been made in the period in which the new information became available. We also evaluated management’s estimation of the point at which the operating cash flow from a project becomes negative, as this impacts DD&A and impairment. We evaluated the professional qualifications and objectivity of management's experts who performed the detailed preparation of the reserve estimates and those who are primarily responsible for providing independent review and challenge, and ultimately endorsement of, the reserve estimates. We also evaluated the completeness and accuracy of the inputs used by management in estimating the oil and gas reserves by agreeing the inputs to source documentation. We evaluated management’s development plan for compliance with SEC rules that undrilled locations must be scheduled to be drilled within five years, unless specific circumstances justify a longer period. This evaluation was made by assessing the consistency of the development projections with Shell's development and capital expenditure plans. Also, where reserves are recognised beyond current licence terms, we obtained evidence to support the assumption that the licence would be renewed. We also considered whether or not the development and capital expenditure plans reflect Shell's net-zero emissions ambition, specifically considering reserve volumes expected to be lifted beyond 2030. |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
159
|
IMPAIRMENT OF EXPLORATION AND PRODUCTION ASSETS AND MANUFACTURING, SUPPLY AND DISTRIBUTION ASSETS
|
|||||
Description of the matter
|
As described in Note 8 to the Consolidated Financial Statements, in the year ended December 31, 2020, Shell recorded impairment charges of $20 billion relating to Exploration and production assets and $7 billion for manufacturing, supply and distribution assets.
Auditing the impairment charges recorded for Exploration and production assets, and Manufacturing, supply and distribution assets is complex and subjective due to the significant amount of judgement involved in determining the recoverable amount. As described in Note 2A, the most complex judgements in forecasting cash flows for impairment testing relate to management's assessment of the long-term oil and gas price outlook, and forecasting refining margins appropriate to local markets. Estimating long-term oil and gas prices and forecast refining margins is inherently difficult, as it requires forecasts that reflect developments in demand such as global economic growth, technology efficiency, policy measures and, on the supply side, consideration of investment and resource potential, cost of development of new supply and behaviour of major resource holders. These judgements are particularly difficult because of increased demand uncertainty due to factors such as the macro-economic impacts of the COVID-19 pandemic and the pace of decarbonisation and the energy transition. Other judgements relate to oil and gas reserve estimates, future expected production volumes, the expected useful lives of the assets and asset-specific risk adjustments. Further, given the long timeframes involved, the recoverable amounts of assets are often sensitive to the extent of the risk adjustments applied to the future cash flows. There is a risk of material misstatement in the event that the future cash flows do not reflect appropriately the risks specific to the asset. Exploration and evaluation (E&E) expenditures are capitalised on a project-by-project basis. Auditing impairment of E&E assets is inherently judgemental given the level of uncertainty considered in the run up to the final investment decision. Until final investment is approved, there is a significant judgement relating to the risk that certain E&E costs are not written off in the appropriate reporting period. |
||||
How we addressed the matter in our audit
|
We obtained an understanding of the controls over Shell’s asset impairment process. We then evaluated the design of these controls and tested their operating effectiveness. For example, we tested the controls over management’s identification of cash generating units, of indicators of impairment and reversals of impairment and the approval of oil and gas prices and refining margins, which are the key inputs in the estimation of cash flows for the purpose of testing assets for impairment and reversals of impairment.
To test price assumptions, amongst other procedures, we compared future short and long-term oil and gas prices to consensus analysts' forecasts and those adopted by other international oil companies. We evaluated whether prices were used consistently across Shell, including pricing differentials with respect to market prices such as Brent. We considered management's long-term price assumptions including the extent to which the pricing scenarios incorporated the potential impact of climate change and the energy transition by comparing the assumptions to the International Energy Agency price outlook in the Energy Outlook scenarios.
We assessed the basis for adjusting the cash flows to reflect the risks of each CGU or JVA that were not reflected in the impairment discount rate. In so doing, we considered, for Upstream and Integrated Gas, the stage of the life of the asset, the nature of the asset and tested the consistency across similar fields. In respect of Manufacturing, supply and distribution assets, we considered refining margins, refinery availability and estimated unplanned maintenance costs.
We also evaluated the cash flow inputs to the impairment models by reconciling reserves and future production volumes in the impairment models and the life-of-field assumptions with those applied in the decommissioning and restoration provision models. We evaluated the reasonableness of useful lives assigned for Manufacturing, supply and distribution assets, particularly those that management had assessed as longer-lived assets for consistency with the Company's strategy and energy transition goals. We also tested that carbon pricing was included in cash flows, where applicable; and we performed sensitivity analyses on critical assumptions in the cash flow models to understand the impact of changes to certain assumptions, including oil and gas prices, refining margins, production and the risking of cashflows.
To test the completeness of the impairment charge recorded on exploration and evaluation assets, amongst other procedures, we performed a licence-by-licence risk assessment of Shell's E&E assets to identify assets with a significant risk of impairment. We assessed each significant licence area against the impairment criteria, with a particular focus on those assets where the final investment decision was expected to be approved over the medium or long term, or those assets where the dominant commodity that will be produced is oil. We considered whether the development of E&E projects would be inconsistent with Shell's current strategy and whether business plans confirm the company's commitment to continue to invest in the projects. We assessed the appropriateness of the Company's impairment disclosures.
|
THE ESTIMATION OF FUTURE REFINING MARGINS TO EVALUATE THE RECOVERABILITY OF MANUFACTURING, SUPPLY AND DISTRIBUTION ASSETS
|
|||||
Description of the matter
|
As described in Note 8 to the Consolidated Financial Statements, at December 31, 2020 manufacturing, supply and distribution assets amounted to $50 billion and impairment charges recorded on those assets for the year were $7 billion. As described in Note 2A, forecasted refining margins are a key input to assessing whether or not refining assets are impaired and to assessing the useful lives of Manufacturing, supply and distribution assets for the estimation of D&R provisions.
Auditing future refining margins is inherently complex as the margins are influenced by both regional and global factors and there is limited external refining margin forecast data available. The estimation of refining margins is highly judgemental and incorporates long-run demand forecasts, including the impacts of the energy transition, and supply dynamics, including the speed of the industry's response to changing demand.
|
||||
How we addressed the matter in our audit
|
We obtained an understanding of the controls over Shell’s process for the estimation of refining margins. We then evaluated the design of, and tested the operating effectiveness of, controls over the estimation and approval of refining margins.
We were assisted by internal oil and gas valuation specialists in evaluating the reasonableness of Shell’s refining margin estimation methodology and their assumptions. This included reading third-party research papers to compare the key inputs and assumptions used in Shell's margin model, such as refining capacity additions, expected refinery closures, carbon dioxide costs and the strategic and political behaviour of National Oil Companies.
We performed benchmark analyses of the indicative refining margins for the three key refining hubs (US Gulf Coast, North West Europe and Singapore) and compared these to market and consultant forecasts. We recalculated the refining margins from Shell’s price forecasts and compared these to the refining margins derived from traded futures.
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
160
|
THE ESTIMATION OF DECOMMISSIONING AND RESTORATION (D&R) PROVISIONS
|
|||||
Description of the matter
|
As described in Note 18 to the Consolidated Financial Statements, at December 31, 2020 Shell recognised $23 billion in decommissioning and restoration (D&R) provisions. Auditing D&R provisions is complex because management's estimation of future cash outflows involves significant judgement. As explained in Note 2 to the Consolidated Financial Statements, the estimate is based on current legal and constructive obligations, technology and price levels. However, the extent and timing of the actual outflows incurred in the future may differ due to changes in laws, regulations, public expectations, technology, prices and conditions at the time of decommissioning, and can take place many years in the future.
|
||||
How we addressed the matter in our audit
|
We obtained an understanding of the controls over Shell’s process for the estimation of decommissioning and restoration provisions. We then evaluated the design of, and tested the operating effectiveness of, controls over the estimation of D&R provisions. For example, we tested controls over the review of the estimation and completeness of costs.
Our audit procedures included, amongst others, assessing changes in D&R cost estimates, and whether they reflected the latest regulatory requirements and technical developments. We audited cost assumptions relating to labour rates, rig type and rates, number of wells, well durations, and any contingencies applied by inspecting contracts. We evaluated the expected timing of decommissioning by comparing these factors to the estimated life-of-field assumptions. In addition, we tested the D&R accounting models and assumptions therein, including discount rates and inflation rates. We reconciled these assumptions with those used in other areas of measurement, such as impairment. We evaluated the timing of recognition of D&R liabilities related to contingent liabilities and D&R liabilities arising from assets previously disposed of, including assessing the counterparty risk associated with those disposals.
We also evaluated management’s assessment of the useful lives of manufacturing assets in light of the changed macro-economic fundamentals, particularly in developed economies, together with plans to rationalise their manufacturing portfolio. In particular, we evaluated management’s conclusion that manufacturing assets could no longer be considered to have indefinite lives, and that therefore D&R provisions were required for certain refineries and petrochemical facilities.
We assessed the appropriateness of disclosure of D&R provisions and contingent liability disclosures in the financial statements. We also evaluated management’s re-assessment of the need for contingent liability disclosure in respect of certain manufacturing assets.
|
THE RECOGNITION AND MEASUREMENT OF DEFERRED TAX ASSETS (DTAs)
|
|||||
Description of the matter
|
As described in Note 16 to the Consolidated Financial Statements, at December 31, 2020 Shell recognised gross DTAs of $33 billion, which are recognised on the balance sheet as either DTAs or as an offset against deferred tax liabilities (DTLs), depending on the overall tax position in a particular jurisdiction.
Auditing the recognition and measurement of DTA balances is subjective because the estimation requires significant judgement, including the timing of reversals of DTLs and the availability of future profits against which tax deductions represented by the DTA can be offset. In addition, auditing the recognition of DTA balances that are supported by the expectation of future taxable profits arising beyond Shell's regular forecast planning horizon required significant audit judgement.
|
||||
How we addressed the matter in our audit
|
We obtained an understanding of the controls over Shell’s processes for the recognition and measurement of DTAs. We then evaluated the design of these controls and tested their operating effectiveness. For example, we tested controls over projections of future taxable income and the deferred tax calculations that support the recognition of DTAs.
Amongst other procedures, we assessed management’s determination of the expected timing of utilisation of the DTAs, including the application of relevant tax laws that apply to the utilisation of tax losses. We involved our tax professionals to evaluate the application of relevant tax laws, Shell’s assessment of its ability to carry forward or backward losses, the scheduling of the reversal of existing temporary taxable differences and carry forward amounts, and the evaluation of the carry forward lives of the Company's DTAs. We tested management’s forecasted timing of the reversal of taxable temporary differences by evaluating the projected sources of taxable income and considering the nature of the temporary differences and the relevant tax law. We performed sensitivity analyses over Shell’s risk-weighted future taxable profits by jurisdiction, which take into account potential costs of decarbonisation and reconciled the forecast to that used in other areas of analysis, such as impairment. Our testing also included evaluating the extent to which sufficient probable taxable profits would arise in the period within which the related losses would be available for utilisation, considering, for example, limits on the length of time that losses can be carried forward, if applicable, or if losses are ring-fenced for tax purposes. We evaluated management’s negative stress test to assess the tolerance of the estimation uncertainty to further risking. |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
161
|
REVENUE RECOGNITION: THE MEASUREMENT OF UNREALISED TRADING GAINS AND LOSSES AND THE RISK OF UNREALISED TRADING GAINS OR LOSSES NOT BEING RECOGNISED, OR BEING RECOGNISED AS A RESULT OF ERRORS
|
|||||
Description of the matter
|
As described in Note 4 to the Consolidated Financial Statements, in the year ended December 31, 2020 Shell recognised $181 billion of revenue. As described in Note 19 to the Consolidated Financial Statements, Shell recognised derivative financial instrument assets of $9 billion and derivative financial instrument liabilities of $6 billion.
Shell's trading and supply function is integrated within the Oil Products, Chemicals, Integrated Gas and Upstream segments and is spread across multiple regions. Auditing the measurement of unrealised trading gains and losses is complex because trading is not always carried out in active markets where prices are readily available, increasing subjectivity used in determining the pricing curve and volatility assumptions which are key inputs to valuing the trades.
Identifying unrealised trading gains and losses is also complex due to the significant volume of transactions entered into by Shell and the lack of market transparency of executed deals.
|
||||
How we addressed the matter in our audit
|
We obtained an understanding of the controls over Shell’s process for the recognition of revenue relating to unrealised trading gains and losses. We then evaluated the design of these controls and tested their operating effectiveness. For example, we tested controls within the front-to-end deal lifecycle across the trading and supply function and controls around the review of pricing curve and volatility assumptions applied in the valuation models.
We involved professionals with significant experience auditing both large commodity trading organisations and financial institutions. We tested the pricing curve and volatility assumptions in the valuation models. This included comparing the price curves and volatility assumptions adopted by Shell to external broker quotes. market consensus providers, and our independent assessments. We involved EY valuation specialists to assist us in performing independent testing of the valuation models of Level 3 contracts. We evaluated contract terms and key assumptions against independent market information. We assessed Shell's valuation methodology against market practice and analysed whether a consistent framework was applied across the business. To audit the existence, completeness and valuation of open positions, we focused specifically on over-the-counter (OTC) physical and financial transactions. Amongst other procedures, we obtained external confirmation of a sample of open trading positions with brokers and counterparties and, where necessary, we tested the existence of the position by agreement to signed contracts. We performed additional confirmation testing by obtaining confirmations from a sample of counterparties who had open positions in the prior trading year, but no reported trading positions in the current year. We also performed procedures to identify unrecorded liabilities by comparing sales to trade receivables and purchases to trade payables that occurred near the end of the financial year to evaluate whether or not the transactions had been recorded appropriately and in the correct period. |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
162
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
163
|
CONSOLIDATED FINANCIAL STATEMENTS | |||||
Consolidated Statement of Income | |||||
Consolidated Statement of Comprehensive Income | |||||
Consolidated Balance Sheet | |||||
Consolidated Statement of Changes in Equity | |||||
Consolidated Statement of Cash Flows | |||||
Notes to the Consolidated Financial Statements | |||||
Note 1 Basis of preparation | |||||
Note 2 Significant accounting policies, judgements and estimates | |||||
Note 3 Changes to IFRS not yet adopted | |||||
Note 4 Segment information | |||||
Note 5 Interest and other income | |||||
Note 6 Interest expense | |||||
Note 7 Intangible assets | |||||
Note 8 Property, plant and equipment | |||||
Note 9 Joint ventures and associates | |||||
Note 10 Investments in securities | |||||
Note 11 Trade and other receivables | |||||
Note 12 Inventories | |||||
Note 13 Cash and cash equivalents | |||||
Note 14 Debt and lease arrangements | |||||
Note 15 Trade and other payables | |||||
Note 16 Taxation | |||||
Note 17 Retirement benefits | |||||
Note 18 Decommissioning and other provisions | |||||
Note 19 Financial instruments | |||||
Note 20 Share capital | |||||
Note 21 Share-based compensation plans and shares held in trust | |||||
Note 22 Other reserves | |||||
Note 23 Dividends | |||||
Note 24 Earnings per share | |||||
Note 25 Legal proceedings and other contingencies | |||||
Note 26 Employees | |||||
Note 27 Directors and Senior Management | |||||
Note 28 Auditor’s remuneration | |||||
Note 29 Emission schemes and related environmental plans
|
|||||
Note 30 Post-balance sheet events |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
164
|
CONSOLIDATED STATEMENT OF INCOME
|
$ million
|
|||||||||||||
|
Notes
|
2020 | 2019 | 2018 | ||||||||||
Revenue | 4 | 180,543 | 344,877 | 388,379 | ||||||||||
Share of profit of joint ventures and associates | 9 | 1,783 | 3,604 | 4,106 | ||||||||||
Interest and other income | 5 | 869 | 3,625 | 4,071 | ||||||||||
Total revenue and other income | 183,195 | 352,106 | 396,556 | |||||||||||
Purchases | 117,093 | 252,983 | 294,399 | |||||||||||
Production and manufacturing expenses | 4 | 24,001 | 26,438 | 26,970 | ||||||||||
Selling, distribution and administrative expenses | 4 | 9,881 | 10,493 | 11,360 | ||||||||||
Research and development | 4 | 907 | 962 | 986 | ||||||||||
Exploration | 4 | 1,747 | 2,354 | 1,340 | ||||||||||
Depreciation, depletion and amortisation | 4 | 52,444 | 28,701 | 22,135 | ||||||||||
Interest expense | 6 | 4,089 | 4,690 | 3,745 | ||||||||||
Total expenditure | 210,162 | 326,621 | 360,935 | |||||||||||
(Loss)/income before taxation | (26,967) | 25,485 | 35,621 | |||||||||||
Taxation (credit)/charge | 16 | (5,433) | 9,053 | 11,715 | ||||||||||
(Loss)/income for the period | 4 | (21,534) | 16,432 | 23,906 | ||||||||||
Income attributable to non-controlling interest | 4 | 146 | 590 | 554 | ||||||||||
(Loss)/income attributable to Royal Dutch Shell plc shareholders | 4 | (21,680) | 15,842 | 23,352 | ||||||||||
Basic earnings per share ($) | 24 | (2.78) | 1.97 | 2.82 | ||||||||||
Diluted earnings per share ($) | 24 | (2.78) | 1.95 | 2.80 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
165
|
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
$ million
|
|||||||||||||
Notes
|
2020 | 2019 | 2018 | |||||||||||
(Loss)/income for the period | 4 | (21,534) | 16,432 | 23,906 | ||||||||||
Other comprehensive income/(loss) net of tax | ||||||||||||||
Items that may be reclassified to income in later periods:
|
||||||||||||||
Currency translation differences | 22 | 1,179 | 344 | (3,171) | ||||||||||
Debt instruments remeasurements | 22 | 23 | 29 | (15) | ||||||||||
Cash flow hedging (losses)/gains [A] | 22 | (160) | (276) | 730 | ||||||||||
Net investment hedging (losses)/gains [A] | 22 | (423) | 9 | (1) | ||||||||||
Deferred cost of hedging | 22 | 100 | 66 | (209) | ||||||||||
Share of other comprehensive loss of joint ventures and associates | 9 | (42) | (76) | (10) | ||||||||||
Total
|
677 | 96 | (2,676) | |||||||||||
Items that are not reclassified to income in later periods:
|
||||||||||||||
Retirement benefits remeasurements
|
(2,702) | (2,102) | 3,588 | |||||||||||
Equity instruments remeasurements | 64 | (30) | (153) | |||||||||||
Share of other comprehensive income of joint ventures and associates | 9 | 119 | 2 | 193 | ||||||||||
Total
|
(2,519) | (2,130) | 3,628 | |||||||||||
Other comprehensive (loss)/income for the period | (1,842) | (2,034) | 952 | |||||||||||
Comprehensive (loss)/income for the period | (23,376) | 14,398 | 24,858 | |||||||||||
Comprehensive income attributable to non-controlling interest | 136 | 625 | 383 | |||||||||||
Comprehensive (loss)/income attributable to Royal Dutch Shell plc shareholders | (23,512) | 13,773 | 24,475 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
166
|
CONSOLIDATED BALANCE SHEET
|
$ million | ||||||||||
Notes | Dec 31, 2020 | Dec 31, 2019 | |||||||||
Assets | |||||||||||
Non-current assets | |||||||||||
Intangible assets | 7 | 22,822 | 23,486 | ||||||||
Property, plant and equipment | 8 | 210,847 | 238,349 | ||||||||
Joint ventures and associates | 9 | 22,451 | 22,808 | ||||||||
Investments in securities | 10 | 3,222 | 2,989 | ||||||||
Deferred tax | 16 | 16,311 | 10,524 | ||||||||
Retirement benefits | 17 | 2,474 | 4,717 | ||||||||
Trade and other receivables | 11 | 7,641 | 8,085 | ||||||||
Derivative financial instruments | 19 | 2,805 | 689 | ||||||||
288,573 | 311,647 | ||||||||||
Current assets | |||||||||||
Inventories | 12 | 19,457 | 24,071 | ||||||||
Trade and other receivables | 11 | 33,625 | 43,414 | ||||||||
Derivative financial instruments | 19 | 5,783 | 7,149 | ||||||||
Cash and cash equivalents | 13 | 31,830 | 18,055 | ||||||||
90,695 | 92,689 | ||||||||||
Total assets | 379,268 | 404,336 | |||||||||
Liabilities | |||||||||||
Non-current liabilities | |||||||||||
Debt | 14 | 91,115 | 81,360 | ||||||||
Trade and other payables | 15 | 2,304 | 2,342 | ||||||||
Derivative financial instruments | 19 | 420 | 1,209 | ||||||||
Deferred tax | 16 | 10,463 | 14,522 | ||||||||
Retirement benefits | 17 | 15,168 | 13,017 | ||||||||
Decommissioning and other provisions | 18 | 27,310 | 21,799 | ||||||||
146,780 | 134,249 | ||||||||||
Current liabilities | |||||||||||
Debt | 14 | 16,899 | 15,064 | ||||||||
Trade and other payables | 15 | 41,677 | 49,208 | ||||||||
Derivative financial instruments | 19 | 5,308 | 5,429 | ||||||||
Taxes payable | 16 | 6,006 | 6,693 | ||||||||
Retirement benefits | 17 | 437 | 419 | ||||||||
Decommissioning and other provisions | 18 | 3,624 | 2,811 | ||||||||
73,951 | 79,624 | ||||||||||
Total liabilities | 220,731 | 213,873 | |||||||||
Equity | |||||||||||
Share capital | 20 | 651 | 657 | ||||||||
Shares held in trust | (709) | (1,063) | |||||||||
Other reserves | 22 | 12,752 | 14,451 | ||||||||
Retained earnings | 142,616 | 172,431 | |||||||||
Equity attributable to Royal Dutch Shell plc shareholders | 155,310 | 186,476 | |||||||||
Non-controlling interest | 3,227 | 3,987 | |||||||||
Total equity | 158,537 | 190,463 | |||||||||
Total liabilities and equity | 379,268 | 404,336 |
Signed on behalf of the Board
|
||
/s/ Jessica Uhl
|
||
Jessica Uhl
Chief Financial Officer March 10, 2021 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
167
|
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
|
$ million
|
||||||||||||||||||||||
Equity attributable to Royal Dutch Shell plc shareholders
|
|||||||||||||||||||||||
Share capital
(see Note 20)
|
Shares
held in trust
|
Other
reserves
(see Note 22)
|
Retained
earnings
|
Total
|
Non-
controlling
interest
|
Total
equity
|
|||||||||||||||||
At January 1, 2020 | 657 | (1,063) | 14,451 | 172,431 | 186,476 | 3,987 | 190,463 | ||||||||||||||||
Comprehensive (loss)/income for the period | — | — | (1,832) |
(21,397) [A]
|
(23,229) | 136 | (23,093) | ||||||||||||||||
Transfer from other comprehensive income
|
— | — | 270 | (270) | — | — | — | ||||||||||||||||
Dividends (see Note 23)
|
— | — | — | (7,270) | (7,270) | (311) | (7,581) | ||||||||||||||||
Repurchases of shares | (6) | — | 6 | (1,214) | (1,214) | — | (1,214) | ||||||||||||||||
Share-based compensation
|
— | 354 | (143) | (230) | (19) | — | (19) | ||||||||||||||||
Other changes in non-controlling interest | — | — | — | 566 | 566 |
(585) [B]
|
(19) | ||||||||||||||||
At December 31, 2020 | 651 | (709) | 12,752 | 142,616 | 155,310 | 3,227 | 158,537 | ||||||||||||||||
At January 1, 2019 (as previously published) | 685 | (1,260) | 16,615 | 182,606 | 198,646 | 3,888 | 202,534 | ||||||||||||||||
Impact of IFRS 16 | — | — | — | 4 | 4 | — | 4 | ||||||||||||||||
At January 1, 2019 (as revised) | 685 | (1,260) | 16,615 | 182,610 | 198,650 | 3,888 | 202,538 | ||||||||||||||||
Comprehensive income/(loss) for the period | — | — | (2,069) | 15,842 | 13,773 | 625 | 14,398 | ||||||||||||||||
Transfer from other comprehensive income | — | — | (74) | 74 | — | — | — | ||||||||||||||||
Dividends (see Note 23) | — | — | — | (15,198) | (15,198) | (537) | (15,735) | ||||||||||||||||
Repurchases of shares [C] | (28) | — | 28 | (10,286) | (10,286) | — | (10,286) | ||||||||||||||||
Share-based compensation | — | 197 | (49) | (613) | (465) | — | (465) | ||||||||||||||||
Other changes in non-controlling interest | — | — | — | 2 | 2 | 11 | 13 | ||||||||||||||||
At December 31, 2019 | 657 | (1,063) | 14,451 | 172,431 | 186,476 | 3,987 | 190,463 | ||||||||||||||||
At January 1, 2018 | 696 | (917) | 16,794 | 177,733 | 194,306 | 3,456 | 197,762 | ||||||||||||||||
Comprehensive income for the period
|
— | — | 1,123 | 23,352 | 24,475 | 383 | 24,858 | ||||||||||||||||
Transfer from other comprehensive income | — | — | (971) | 971 | — | — | — | ||||||||||||||||
Dividends (see Note 23) | — | — | — | (15,675) | (15,675) | (586) | (16,261) | ||||||||||||||||
Repurchases of shares [C] | (11) | — | 11 | (4,519) | (4,519) | — | (4,519) | ||||||||||||||||
Share-based compensation | — | (343) | (342) | 693 | 8 | — | 8 | ||||||||||||||||
Other changes in non-controlling interest | — | — | — | 51 | 51 | 635 | 686 | ||||||||||||||||
At December 31, 2018 | 685 | (1,260) | 16,615 | 182,606 | 198,646 | 3,888 | 202,534 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
168
|
|
||||||||||||||||||||
CONSOLIDATED STATEMENT OF CASH FLOWS
|
$ million | |||||||||||||||||||
Notes
|
2020 | 2019 | 2018 | |||||||||||||||||
(Loss)/income before taxation for the period | (26,967) | 25,485 | 35,621 | |||||||||||||||||
Adjustment for: | ||||||||||||||||||||
Interest expense (net)
|
3,316 | 3,705 | 2,878 | |||||||||||||||||
Depreciation, depletion and amortisation
|
52,444 | 28,701 | 22,135 | |||||||||||||||||
Exploration well write-offs
|
8 | 815 | 1,218 | 449 | ||||||||||||||||
Net gains on sale and revaluation of non-current assets and businesses | (286) | (2,519) | (3,265) | |||||||||||||||||
Share of profit of joint ventures and associates | (1,783) | (3,604) | (4,106) | |||||||||||||||||
Dividends received from joint ventures and associates
|
2,591 | 4,139 | 4,903 | |||||||||||||||||
Decrease/(increase) in inventories | 4,477 | (2,635) | 2,823 | |||||||||||||||||
Decrease/(increase) in current receivables | 9,625 | (921) | 1,955 | |||||||||||||||||
Decrease in current payables | (9,494) | (1,223) | (1,336) | |||||||||||||||||
Derivative financial instruments | 977 | (1,484) | 799 | |||||||||||||||||
Retirement benefits | 568 | (365) | 390 | |||||||||||||||||
Decommissioning and other provisions | 1,104 | (686) | (1,754) | |||||||||||||||||
Other | 8 | (28) | 1,264 | |||||||||||||||||
Tax paid | (3,290) | (7,605) | (9,671) | |||||||||||||||||
Cash flow from operating activities | 34,105 | 42,178 | 53,085 | |||||||||||||||||
Capital expenditure | (16,585) | (22,971) | (23,011) | |||||||||||||||||
Investments in joint ventures and associates | (1,024) | (743) | (880) | |||||||||||||||||
Investment in equity securities | (218) | (205) | (187) | |||||||||||||||||
Proceeds from sale of property, plant and equipment and businesses | 2,489 | 4,803 | 4,366 | |||||||||||||||||
Proceeds from sale of joint ventures and associates | 1,240 | 2,599 | 1,594 | |||||||||||||||||
Proceeds from sale of equity securities | 281 | 469 | 4,505 | |||||||||||||||||
Interest received | 532 | 911 | 823 | |||||||||||||||||
Other investing cash inflows | 3,239 | 2,921 | 1,373 | |||||||||||||||||
Other investing cash outflows | (3,232) | (3,563) | (2,242) | |||||||||||||||||
Cash flow from investing activities | (13,278) | (15,779) | (13,659) | |||||||||||||||||
Net decrease in debt with maturity period within three months | (63) | (308) | (396) | |||||||||||||||||
Other debt: | ||||||||||||||||||||
New borrowings
|
23,033 | 11,185 | 3,977 | |||||||||||||||||
Repayments
|
(17,385) | (14,292) | (11,912) | |||||||||||||||||
Interest paid | (4,105) | (4,649) | (3,574) | |||||||||||||||||
Derivative financial instruments [A] | 1,157 | (48) | ||||||||||||||||||
Change in non-controlling interest | (42) | — | 678 | |||||||||||||||||
Cash dividends paid to: | ||||||||||||||||||||
Royal Dutch Shell plc shareholders
|
(7,424) | [B] | (15,198) | (15,675) | ||||||||||||||||
Non-controlling interest
|
(311) | (537) | (584) | |||||||||||||||||
Repurchases of shares | (1,702) | (10,188) | (3,947) | |||||||||||||||||
Shares held in trust: net purchases and dividends received | (382) | (1,174) | (1,115) | |||||||||||||||||
Cash flow from financing activities | (7,224) | (35,209) | (32,548) | |||||||||||||||||
Currency translation differences relating to cash and cash equivalents | 172 | 124 | (449) | |||||||||||||||||
Increase/(decrease) in cash and cash equivalents | 13,775 | (8,686) | 6,429 | |||||||||||||||||
Cash and cash equivalents at beginning of year | 18,055 | 26,741 | 20,312 | |||||||||||||||||
Cash and cash equivalents at end of year | 13 | 31,830 | 18,055 | 26,741 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
169
|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS | |||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
170
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
171
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
172
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
173
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
174
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
175
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
176
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
177
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
178
|
2020 |
$ million
|
||||||||||||||||||||||
Integrated Gas
|
Upstream | Oil Products | Chemicals |
Corporate
|
Total
|
||||||||||||||||||
Revenue:
|
|||||||||||||||||||||||
Third-party
|
33,287 | 6,767 | 128,717 | 11,721 | 51 | 180,543 | [A] [B] | ||||||||||||||||
Inter-segment
|
3,410 | 21,564 | 6,213 | 2,850 | — | 34,037 | |||||||||||||||||
Share of profit/(loss) of joint ventures and associates (CCS basis)
|
562 | (7) | 988 | 567 | (268) | 1,842 | |||||||||||||||||
Interest and other income, of which:
|
14 | 542 | (93) | — | 406 | 869 | |||||||||||||||||
Interest income
|
6 | 56 | 28 | — | 589 | 679 | |||||||||||||||||
Net gains on sale and revaluation of non-current assets and businesses
|
218 | 55 | (9) | (2) | 24 | 286 | |||||||||||||||||
Other
|
(210) | 431 | (112) | 2 | (207) | (96) | |||||||||||||||||
Third-party and inter-segment purchases (CCS basis)
|
21,112 | 4,505 | 113,177 | 9,969 | 8 | 148,771 | |||||||||||||||||
Production and manufacturing expenses
|
5,723 | 10,521 | 5,942 | 1,787 | 28 | 24,001 | |||||||||||||||||
Selling, distribution and administrative expenses
|
729 | (23) | 7,360 | 1,339 | 476 | 9,881 | |||||||||||||||||
Research and development expenses
|
103 | 486 | 209 | 109 | — | 907 | |||||||||||||||||
Exploration expenses
|
611 | 1,136 | — | — | — | 1,747 | |||||||||||||||||
Depreciation, depletion and amortisation charge, of which:
|
17,704 | 23,119 | 10,473 | 1,116 | 32 | 52,444 | |||||||||||||||||
Impairment losses
|
12,221 | 8,697 | 6,531 | 5 | 9 | 27,463 | [C] | ||||||||||||||||
Interest expense
|
76 | 374 | 56 | 3 | 3,580 | 4,089 | |||||||||||||||||
Taxation (credit)/charge (CCS basis) | (2,507) | (467) | (898) | 7 | (983) | (4,848) | |||||||||||||||||
CCS earnings | (6,278) | (10,785) | (494) | 808 | (2,952) | (19,701) | |||||||||||||||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
179
|
2019 | $ million | ||||||||||||||||||||||
Integrated Gas | Upstream [A] | Oil Products [A] | Chemicals [A] | Corporate | Total | ||||||||||||||||||
Revenue:
|
|||||||||||||||||||||||
Third-party
|
41,322 | 9,482 | 280,460 | 13,568 | 45 | 344,877 | [B] | ||||||||||||||||
Inter-segment
|
4,280 | 35,735 | 7,819 | 3,917 | — | 51,751 | |||||||||||||||||
Share of profit/(loss) of joint ventures and associates (CCS basis)
|
1,791 | 379 | 1,179 | 546 | (307) | 3,588 | |||||||||||||||||
Interest and other income, of which:
|
263 | 2,180 | 273 | (7) | 916 | 3,625 | |||||||||||||||||
Interest income
|
— | — | — | — | 899 | 899 | |||||||||||||||||
Net gains on sale and revaluation of non-current assets and businesses
|
282 | 1,888 | 305 | (8) | 52 | 2,519 | |||||||||||||||||
Other
|
(19) | 292 | (32) | 1 | (35) | 207 | |||||||||||||||||
Third-party and inter-segment purchases (CCS basis)
|
23,498 | 6,982 | 262,004 | 13,039 | (6) | 305,517 | |||||||||||||||||
Production and manufacturing expenses
|
5,768 | 11,102 | 7,536 | 1,995 | 37 | 26,438 | |||||||||||||||||
Selling, distribution and administrative expenses
|
716 | 29 | 7,976 | 1,323 | 449 | 10,493 | |||||||||||||||||
Research and development expenses
|
181 | 450 | 219 | 112 | — | 962 | |||||||||||||||||
Exploration expenses
|
281 | 2,073 | — | — | — | 2,354 | |||||||||||||||||
Depreciation, depletion and amortisation charge, of which:
|
6,238 | 16,881 | 4,461 | 1,074 | 47 | 28,701 | |||||||||||||||||
Impairment losses
|
579 | 2,576 | 622 | 5 | — | 3,782 | [C] | ||||||||||||||||
Impairment reversals
|
— | — | (190) | — | — | (190) | [D] | ||||||||||||||||
Interest expense
|
104 | 526 | 77 | 5 | 3,978 | 4,690 | |||||||||||||||||
Taxation charge/(credit) (CCS basis)
|
2,242 | 5,878 | 1,319 | (2) | (578) | 8,859 | |||||||||||||||||
CCS earnings | 8,628 | 3,855 | 6,139 | 478 | (3,273) | 15,827 |
2018 | $ million | ||||||||||||||||||||||
Integrated Gas | Upstream [A] | Oil Products [A] | Chemicals [A] | Corporate | Total | ||||||||||||||||||
Revenue:
|
|||||||||||||||||||||||
Third-party
|
43,764 | 9,459 | 316,409 | 18,704 | 43 | 388,379 | [B] | ||||||||||||||||
Inter-segment
|
5,031 | 37,125 | 10,613 | 4,864 | — | 57,633 | |||||||||||||||||
Share of profit/(loss) of joint ventures and associates (CCS basis)
|
2,273 | 285 | 1,101 | 684 | (222) | 4,121 | |||||||||||||||||
Interest and other income, of which:
|
2,230 | 605 | 393 | (53) | 896 | 4,071 | |||||||||||||||||
Interest income
|
— | — | — | — | 772 | 772 | |||||||||||||||||
Net gains on sale and revaluation of non-current assets and businesses
|
2,231 | 717 | 350 | (53) | 20 | 3,265 | |||||||||||||||||
Other
|
(1) | (112) | 43 | — | 104 | 34 | |||||||||||||||||
Third-party and inter-segment purchases (CCS basis)
|
27,775 | 5,948 | 300,417 | 17,332 | 1 | 351,473 | |||||||||||||||||
Production and manufacturing expenses
|
5,370 | 11,169 | 8,226 | 2,362 | (157) | 26,970 | |||||||||||||||||
Selling, distribution and administrative expenses
|
458 | 29 | 9,183 | 1,130 | 560 | 11,360 | |||||||||||||||||
Research and development expenses
|
186 | 493 | 205 | 102 | — | 986 | |||||||||||||||||
Exploration expenses
|
208 | 1,132 | — | — | — | 1,340 | |||||||||||||||||
Depreciation, depletion and amortisation charge, of which:
|
4,850 | 12,871 | 3,165 | 1,034 | 215 | 22,135 | |||||||||||||||||
Impairment losses
|
200 | 1,065 | 346 | 78 | 7 | 1,696 | [C] | ||||||||||||||||
Impairment reversals
|
— | (1,265) | — | — | — | (1,265) | [D] | ||||||||||||||||
Interest expense
|
212 | 586 | 84 | 16 | 2,847 | 3,745 | |||||||||||||||||
Taxation charge/(credit) (CCS basis)
|
2,795 | 8,756 | 1,211 | 339 | (1,270) | 11,831 | |||||||||||||||||
CCS earnings | 11,444 | 6,490 | 6,025 | 1,884 | (1,479) | 24,364 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
180
|
Reconciliation of CCS earnings to income for the period
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
(Loss)/income attributable to Royal Dutch Shell plc shareholders | (21,680) | 15,842 | 23,352 | ||||||||
Income attributable to non-controlling interest | 146 | 590 | 554 | ||||||||
(Loss)/income for the period | (21,534) | 16,432 | 23,906 | ||||||||
Current cost of supplies adjustment: | |||||||||||
Purchases | 2,359 | (784) | 559 | ||||||||
Taxation | (585) | 194 | (116) | ||||||||
Share of profit of joint ventures and associates | 59 | (15) | 15 | ||||||||
Current cost of supplies adjustment | 1,833 | (605) | 458 | ||||||||
Of which: | |||||||||||
Attributable to Royal Dutch Shell plc shareholders | 1,759 | (572) | 481 | ||||||||
Attributable to non-controlling interest | 74 | (33) | (23) | ||||||||
CCS earnings | (19,701) | 15,827 | 24,364 | ||||||||
Of which: | |||||||||||
CCS earnings attributable to Royal Dutch Shell plc shareholders | (19,921) | 15,270 | 23,833 | ||||||||
CCS earnings attributable to non-controlling interest | 220 | 557 | 531 |
|
|
|
|
|
|
|
|
||||||||||||||||
2020 | $ million | ||||||||||||||||||||||
Europe
|
Asia,
Oceania, Africa |
USA
|
Other
Americas |
Total
|
|||||||||||||||||||
Third-party revenue, by origin
|
50,138 |
[A]
|
65,139 |
|
50,856 | 14,410 | 180,543 | ||||||||||||||||
Intangible assets, property, plant and equipment, joint ventures and associates at December 31
|
38,785 | [B] | 104,450 | 62,976 | 49,909 | 256,120 |
2019 | $ million | |||||||||||||||||||||||||
Europe |
Asia,
Oceania, Africa |
USA |
Other
Americas |
Total
|
||||||||||||||||||||||
Third-party revenue, by origin | 98,455 | [A] | 139,916 | 83,212 | 23,294 | 344,877 | ||||||||||||||||||||
Intangible assets, property, plant and equipment, joint ventures and associates at December 31 | 43,262 | [B] | 119,732 | 67,105 | 54,544 | 284,643 |
2018 | $ million | |||||||||||||||||||||||||
Europe |
Asia,
Oceania, Africa |
USA |
Other
Americas |
Total
|
||||||||||||||||||||||
Third-party revenue, by origin | 118,960 | [A] | 153,716 | 89,876 | 25,827 | 388,379 | ||||||||||||||||||||
Intangible assets, property, plant and equipment, joint ventures and associates at December 31 | 38,617 | [B] | 117,127 | 59,625 | 56,721 | 272,090 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
181
|
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Interest income | 679 | 899 | 772 | ||||||||
Dividend income (from investments in equity securities) | 22 | 23 | 104 | ||||||||
Net gains on sale and revaluation of non-current assets and businesses | 286 | 2,519 | 3,265 | ||||||||
Net foreign exchange (losses)/gains on financing activities | (391) | 5 | (174) | ||||||||
Other | 273 | 179 | 104 | ||||||||
Total | 869 | 3,625 | 4,071 |
$ million | |||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Interest incurred and similar charges | 4,359 | [A] | 4,592 | [A] | 3,550 | ||||||||||||
Less: interest capitalised | (799) | (752) | (876) | ||||||||||||||
Other net losses on fair value and cash flow hedges of debt | 32 | 132 | 169 | ||||||||||||||
Accretion expense | 497 | 718 | 902 | ||||||||||||||
Total | 4,089 | 4,690 | 3,745 |
2020 | $ million | |||||||||||||||||||
Goodwill |
LNG off-take
and sales contracts |
Software | Other | Total | ||||||||||||||||
Cost | ||||||||||||||||||||
At January 1 | 14,973 | 10,211 | 2,958 | 3,908 | 32,050 | |||||||||||||||
Additions | 247 | — | 133 | 1,448 | 1,828 | |||||||||||||||
Sales, retirements and other movements | (64) | (181) | (77) | (637) | (959) | |||||||||||||||
Currency translation differences | 57 | — | 100 | 94 | 251 | |||||||||||||||
At December 31 | 15,213 | 10,030 | 3,114 | 4,813 | 33,170 | |||||||||||||||
Depreciation, depletion and amortisation, including impairments | ||||||||||||||||||||
At January 1 | 768 | 4,014 | 2,524 | 1,258 | 8,564 | |||||||||||||||
Charge for the year [A] | 276 | 835 | 156 | 695 | 1,962 | |||||||||||||||
Sales, retirements and other movements | — | (181) | (129) | 9 | (301) | |||||||||||||||
Currency translation differences | 18 | — | 76 | 29 | 123 | |||||||||||||||
At December 31 | 1,062 | 4,668 | 2,627 | 1,991 | 10,348 | |||||||||||||||
Carrying amount at December 31 | 14,151 | 5,362 | 487 | 2,822 | [B] | 22,822 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
182
|
2019 | $ million | ||||||||||||||||
Goodwill |
LNG off-take
and sales contracts |
Software | Other | Total | |||||||||||||
Cost | |||||||||||||||||
At January 1 | 14,338 | 10,365 | 2,910 | 3,482 | 31,095 | ||||||||||||
Additions | 674 | — | 137 | 449 | 1,260 | ||||||||||||
Sales, retirements and other movements | (46) | (154) | (100) | (22) | (322) | ||||||||||||
Currency translation differences | 7 | — | 11 | (1) | 17 | ||||||||||||
At December 31 | 14,973 | 10,211 | 2,958 | 3,908 | 32,050 | ||||||||||||
Depreciation, depletion and amortisation, including impairments | |||||||||||||||||
At January 1 | 622 | 3,293 | 2,425 | 1,169 | 7,509 | ||||||||||||
Charge for the year [A] | 135 | 876 | 176 | 178 | 1,365 | ||||||||||||
Sales, retirements and other movements | (1) | (155) | (87) | (85) | (328) | ||||||||||||
Currency translation differences | 12 | — | 10 | (4) | 18 | ||||||||||||
At December 31 | 768 | 4,014 | 2,524 | 1,258 | 8,564 | ||||||||||||
Carrying amount at December 31 | 14,205 | 6,197 | 434 | 2,650 | 23,486 |
2020 | $ million | ||||||||||||||||
Exploration and production | |||||||||||||||||
Exploration
and evaluation |
Production |
Manufacturing,
supply and distribution |
Other | Total | |||||||||||||
Cost | |||||||||||||||||
At January 1 | 18,596 | 286,666 | 104,817 | 29,081 | 439,160 | ||||||||||||
Additions | 1,728 | 9,659 | 6,287 | 3,460 | 21,134 | ||||||||||||
Sales, retirements and other movements | (5,928) | 600 | (5,510) | (1,109) | (11,947) | ||||||||||||
Currency translation differences | 92 | 3,632 | 2,282 | 970 | 6,976 | ||||||||||||
At December 31 | 14,488 | 300,557 | 107,876 | 32,402 | 455,323 | ||||||||||||
Depreciation, depletion and amortisation, including impairments | |||||||||||||||||
At January 1 | 4,010 | 136,300 | 48,872 | 11,629 | 200,811 | ||||||||||||
Charge for the year [A] | 3,336 | 34,209 | 11,680 | 1,693 | 50,918 | ||||||||||||
Sales, retirements and other movements | (2,148) | (5,075) | (4,129) | (1,091) | (12,443) | ||||||||||||
Currency translation differences | 64 | 2,805 | 1,819 | 502 | 5,190 | ||||||||||||
At December 31 | 5,262 | 168,239 | 58,242 | 12,733 | 244,476 | ||||||||||||
Carrying amount at December 31 | 9,226 | 132,318 | 49,634 | 19,669 | 210,847 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
183
|
2019 | $ million | ||||||||||||||||
Exploration and production | |||||||||||||||||
Exploration
and evaluation |
Production |
Manufacturing,
supply and distribution |
Other | Total | |||||||||||||
Cost | |||||||||||||||||
At January 1 | 21,181 | 285,252 | 97,694 | 26,268 | 430,395 | ||||||||||||
Additions | 2,659 | 11,374 | 10,945 | 3,145 | 28,123 | ||||||||||||
Sales, retirements and other movements | (5,442) | (11,253) | (3,683) | (456) | (20,834) | ||||||||||||
Currency translation differences | 198 | 1,293 | (139) | 124 | 1,476 | ||||||||||||
At December 31 | 18,596 | 286,666 | 104,817 | 29,081 | 439,160 | ||||||||||||
Depreciation, depletion and amortisation, including impairments | |||||||||||||||||
At January 1 | 3,287 | 131,692 | 46,218 | 10,465 | 191,662 | ||||||||||||
Charge for the year | 1,096 | 19,346 | 5,742 | 1,573 | 27,757 | ||||||||||||
Sales, retirements and other movements | (440) | (15,567) | (2,981) | (437) | (19,425) | ||||||||||||
Currency translation differences | 67 | 829 | (107) | 28 | 817 | ||||||||||||
At December 31 | 4,010 | 136,300 | 48,872 | 11,629 | 200,811 | ||||||||||||
Carrying amount at December 31 | 14,586 | 150,366 | 55,945 | 17,452 | 238,349 |
$ million | |||||||||||||||||
2020 | Exploration and production | ||||||||||||||||
Exploration
and evaluation |
Production |
Manufacturing,
supply and distribution |
Other | Total | |||||||||||||
Cost | |||||||||||||||||
At January 1 | 5 | 15,213 | 13,574 | 5,759 | 34,551 | ||||||||||||
Additions | — | 502 | 1,570 | 1,580 | 3,652 | ||||||||||||
Sales, retirements and other movements | — | (1,370) | (675) | (75) | (2,120) | ||||||||||||
Currency translation differences | — | 95 | 57 | 120 | 272 | ||||||||||||
At December 31 | 5 | 14,440 | 14,526 | 7,384 | 36,355 | ||||||||||||
Depreciation, depletion and amortisation, including impairments | |||||||||||||||||
At January 1 | — | 5,761 | 2,936 | 1,164 | 9,861 | ||||||||||||
Charge for the year | — | 1,898 | 2,675 | 760 | 5,333 | ||||||||||||
Sales, retirements and other movements | — | (712) | (627) | (158) | (1,497) | ||||||||||||
Currency translation differences | — | 50 | 29 | 27 | 106 | ||||||||||||
At December 31 | — | 6,997 | 5,013 | 1,793 | 13,803 | ||||||||||||
Carrying amount at December 31 | 5 | 7,443 | 9,513 | 5,591 | 22,552 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
184
|
$ million | |||||||||||||||||
2019 | Exploration and production | ||||||||||||||||
Exploration
and evaluation |
Production |
Manufacturing,
supply and distribution |
Other | Total | |||||||||||||
Cost | |||||||||||||||||
At January 1 | — | 16,379 | 10,718 | 5,017 | 32,114 | ||||||||||||
Additions | 5 | 664 | 3,124 | 917 | 4,710 | ||||||||||||
Sales, retirements and other movements | — | (1,867) | (268) | (157) | (2,292) | ||||||||||||
Currency translation differences | — | 37 | — | (18) | 19 | ||||||||||||
At December 31 | 5 | 15,213 | 13,574 | 5,759 | 34,551 | ||||||||||||
Depreciation, depletion and amortisation, including impairments | |||||||||||||||||
At January 1 | — | 5,209 | 1,110 | 589 | 6,908 | ||||||||||||
Charge for the year | — | 1,632 | 1,855 | 703 | 4,190 | ||||||||||||
Sales, retirements and other movements | — | (1,091) | (30) | (128) | (1,249) | ||||||||||||
Currency translation differences | — | 11 | 1 | — | 12 | ||||||||||||
At December 31 | — | 5,761 | 2,936 | 1,164 | 9,861 | ||||||||||||
Carrying amount at December 31 | 5 | 9,452 | 10,638 | 4,595 | 24,690 |
Impairments | $ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Impairment losses [A] | |||||||||||
Exploration and production | 20,155 | 2,983 | 1,066 | ||||||||
Manufacturing, supply and distribution | 6,490 | 654 | 441 | ||||||||
Other | 31 | 2 | 8 | ||||||||
Total | 26,676 | 3,639 | 1,515 | ||||||||
Impairment reversals [A] | |||||||||||
Exploration and production | — | — | 1,265 | ||||||||
Manufacturing, supply and distribution | — | 190 | — | ||||||||
Total | — | 190 | 1,265 |
Commodity price assumptions [A] | ||||||||||||||
2021 | 2022 | 2023 | 2024 | |||||||||||
Brent crude oil ($/b) | 40 | 50 | 60 | 63 | ||||||||||
Henry Hub natural gas ($/MMBtu) | 2.50 | 2.50 | 2.75 | 3.03 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
185
|
Capitalised exploration drilling costs | $ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
At January 1 | 5,668 | 6,629 | 6,981 | ||||||||
Additions pending determination of proved reserves | 1,016 | 2,036 | 2,588 | ||||||||
Amounts charged to expense | (815) | (1,218) | (449) | ||||||||
Reclassifications to productive wells on determination of proved reserves | (1,385) | (1,655) | (2,461) | ||||||||
Other movements [A] | (830) | (124) | (30) | ||||||||
At December 31 | 3,654 | 5,668 | 6,629 |
Projects | Wells | |||||||||||||
Number | $ million | Number | $ million | |||||||||||
Between 1 and 5 years | 33 | 1,666 | 80 | 1,275 | ||||||||||
Between 6 and 10 years | 12 | 975 | 47 | 1,309 | ||||||||||
Between 11 and 15 years | 7 | 213 | 21 | 217 | ||||||||||
Between 16 and 20 years | — | — | 3 | 53 | ||||||||||
Total | 52 | 2,854 | 151 | 2,854 |
Shell share of comprehensive income of joint ventures and associates | $ million | ||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||
Joint
ventures |
Associates | Total |
Joint
ventures |
Associates | Total |
Joint
ventures |
Associates | Total | |||||||||||||||||||||||||||
Income for the period |
629 [A]
|
1,154 | 1,783 | 1,121 | 2,483 | 3,604 | 1,307 | 2,799 | 4,106 | ||||||||||||||||||||||||||
Other comprehensive
income/(loss) for the period |
76 | 1 | 77 | (82) | 8 | (74) | 172 | 11 | 183 | ||||||||||||||||||||||||||
Comprehensive income for the period | 705 | 1,155 | 1,860 | 1,039 | 2,491 | 3,530 | 1,479 | 2,810 | 4,289 |
Carrying amount of interests in joint ventures and associates | $ million | ||||||||||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | ||||||||||||||||||||||
Joint
ventures |
Associates | Total |
Joint
ventures |
Associates | Total | ||||||||||||||||||
Net assets | 14,406 | 8,045 | 22,451 | 13,426 | 9,382 | 22,808 |
Transactions with joint ventures and associates | $ million | ||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||
Sales and charges to joint ventures and associates | 5,426 | 7,748 | 8,270 | ||||||||||||||
Purchases and charges from joint ventures and associates | 8,262 | 11,581 | [A] | 13,758 | [A] |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
186
|
Other arrangements in respect of joint ventures and associates | $ million | |||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||
Commitments to make purchases from joint ventures and associates [A] | 1,674 | 2,177 | ||||||
Commitments to provide debt or equity funding to joint ventures and associates | 900 | 897 |
Investment in securities | $ million | |||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||
Equity securities: | 1,396 | 1,437 | ||||||
Equity securities at fair value through other comprehensive income | 1,396 | 1,437 | ||||||
Debt securities: | 1,826 | 1,552 | ||||||
Debt securities at amortised cost | 12 | 11 | ||||||
Debt securities at fair value through other comprehensive income | 1,165 | 1,086 | ||||||
Debt securities at fair value through profit or loss | 649 | 455 | ||||||
Total | 3,222 | 2,989 | ||||||
At fair value | ||||||||
Measured by reference to prices in active markets for identical assets | 1,637 | 1,669 | ||||||
Measured by reference to other observable inputs | 68 | 56 | ||||||
Measured using predominantly unobservable inputs | 1,505 | 1,253 | ||||||
Total | 3,210 | 2,978 | ||||||
At cost | 12 | 11 | ||||||
Total | 3,222 | 2,989 |
Investments in securities measured using predominantly unobservable inputs [A] | $ million | |||||||
2020 | 2019 | |||||||
At January 1 | 1,253 | 1,193 | ||||||
Gains/(losses) recognised in other comprehensive income | 45 | (42) | ||||||
Purchases | 329 | 340 | ||||||
Sales | (60) | (237) | ||||||
Other movements | (62) | (1) | ||||||
At December 31 | 1,505 | 1,253 |
$ million | |||||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | ||||||||||||||||
Current | Non-current | Current | Non-current | ||||||||||||||
Trade receivables | 21,781 | — | 30,216 | — | |||||||||||||
Lease receivables | 186 | 1,380 | 213 | 1,528 | |||||||||||||
Other receivables | 7,251 | 4,109 | 7,791 | 4,039 | |||||||||||||
Amounts due from joint ventures and associates | 726 | 829 | 912 | 1,078 | |||||||||||||
Prepayments and deferred charges | 3,681 | 1,323 | 4,282 | 1,440 | |||||||||||||
Total | 33,625 | 7,641 | 43,414 | 8,085 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
187
|
$ million | |||||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | ||||||||||||||||
Less than one year | 262 | 305 | |||||||||||||||
Between 1 and 5 years | 859 | 953 | |||||||||||||||
5 years and later | 852 | 1,019 | |||||||||||||||
Total undiscounted lease payments receivable | 1,973 | 2,277 | |||||||||||||||
Unearned finance income | 407 | 536 | |||||||||||||||
Net investment in leases | 1,566 | 1,741 |
$ million | |||||||||||
Dec 31, 2020 | Dec 31, 2019 | ||||||||||
Oil, gas and chemicals | 16,949 | 21,653 | [A] | ||||||||
Other including materials | 2,508 | 2,418 | [A] | ||||||||
Total | 19,457 | 24,071 |
$ million | ||||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||
Cash | 4,831 | 4,168 | ||||||
Short-term bank deposits | 2,220 | 2,665 | ||||||
Money market funds, reverse repos and other cash equivalents | 24,779 | 11,222 | ||||||
Total | 31,830 | 18,055 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
188
|
Debt
|
$ million | |||||||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||||||||||||||
Debt
(excluding lease liabilities) |
Lease
liabilities |
Total |
Debt
(excluding lease liabilities) |
Lease
liabilities |
Total | |||||||||||||||
Short-term debt | 7,535 | — | 7,535 | 3,962 | — | 3,962 | ||||||||||||||
Long-term debt due within 1 year | 5,221 | 4,143 | 9,364 | 6,146 | 4,956 | 11,102 | ||||||||||||||
Current debt | 12,756 | 4,143 | 16,899 | 10,108 | 4,956 | 15,064 | ||||||||||||||
Non-current debt | 66,838 | 24,277 | 91,115 | 55,779 | 25,581 | 81,360 | ||||||||||||||
Total | 79,594 | 28,420 | 108,014 | 65,887 | 30,537 | 96,424 |
Net debt
|
$ million | ||||||||||||||||
Asset/(liability) | |||||||||||||||||
Current
debt |
Non-current
debt |
Derivative
financial instruments |
Cash and cash equivalents
(see Note 13) |
Net debt | |||||||||||||
At January 1, 2020 | (15,064) | (81,360) | (724) | 18,055 | (79,093) | ||||||||||||
Cash flow | 7,536 | (13,121) | (1,157) | 13,603 | 6,861 | ||||||||||||
Lease additions | (870) | (2,268) | (3,138) | ||||||||||||||
Other movements | (8,380) | 8,354 | 524 | — | 498 | ||||||||||||
Currency translation differences and foreign exchange gains/(losses) | (121) | (2,720) | 2,155 | 172 | (514) | ||||||||||||
At December 31, 2020 | (16,899) | (91,115) | 798 | 31,830 | (75,386) | ||||||||||||
At January 1, 2019 | (13,046) | (79,815) | (1,345) | 26,741 | (67,465) | ||||||||||||
Cash flow | 10,333 | (7,269) | 351 | (8,810) | (5,395) | ||||||||||||
Lease additions | (971) | (3,547) | (4,518) | ||||||||||||||
Other movements | (11,453) | 9,179 | 453 | — | (1,821) | ||||||||||||
Currency translation differences and foreign exchange gains/(losses) | 73 | 92 | (183) | 124 | 106 | ||||||||||||
At December 31, 2019 | (15,064) | (81,360) | (724) | 18,055 | (79,093) |
Gearing | $ million, except where indicated | ||||||||||
Dec 31, 2020 | Dec 31, 2019 | ||||||||||
Net debt | 75,386 | 79,093 | |||||||||
Total equity | 158,537 | 190,463 | |||||||||
Total capital | 233,923 | 269,556 | |||||||||
Gearing | 32.2 | % | 29.3 | % |
Borrowing facilities and amounts undrawn
|
$ million | ||||||||||||||||
Facility | Amount undrawn | ||||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2019 | ||||||||||||||
CP programmes | 20,000 | 20,000 | 13,254 | 16,610 | |||||||||||||
EMTN programme | unlimited | unlimited | N/A | N/A | |||||||||||||
US shelf registration | — | unlimited | N/A | N/A | |||||||||||||
Committed credit facilities | 22,651 | 10,000 | 22,651 | 10,000 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
189
|
2020 | $ million | ||||||||||||||||||||||||||||
Contractual payments | |||||||||||||||||||||||||||||
Less than
1 year |
Between
1 and 2 years |
Between
2 and 3 years |
Between
3 and 4 years |
Between
4 and 5 years |
5 years
and later |
Total |
Difference
from carrying amount |
Carrying
amount |
|||||||||||||||||||||
Commercial paper | 6,746 | — | — | — | — | — | 6,746 | (15) | 6,731 | ||||||||||||||||||||
Bonds | 5,080 | 4,720 | 5,408 | 4,633 | 8,043 | 41,853 | 69,737 | 1,308 | 71,045 | ||||||||||||||||||||
Bank and other borrowings | 944 | 162 | 33 | 215 | 47 | 417 | 1,818 | — | 1,818 | ||||||||||||||||||||
Total (excluding interest) | 12,770 | 4,882 | 5,441 | 4,848 | 8,090 | 42,270 | 78,301 | 1,293 | 79,594 | ||||||||||||||||||||
Interest | 1,834 | 1,707 | 1,630 | 1,527 | 1,412 | 15,985 | 24,095 |
2019 | $ million | ||||||||||||||||||||||||||||
Contractual payments | |||||||||||||||||||||||||||||
Less than
1 year |
Between
1 and 2 years |
Between
2 and 3 years |
Between
3 and 4 years |
Between
4 and 5 years |
5 years
and later |
Total |
Difference
from carrying amount |
Carrying
amount |
|||||||||||||||||||||
Commercial paper | 3,390 | — | — | — | — | — | 3,390 | (38) | 3,352 | ||||||||||||||||||||
Bonds | 5,900 | 4,971 | 4,392 | 4,326 | 2,091 | 38,323 | 60,003 | 694 | 60,697 | ||||||||||||||||||||
Bank and other borrowings | 859 | 425 | 56 | 71 | 15 | 412 | 1,838 | — | 1,838 | ||||||||||||||||||||
Total (excluding interest) | 10,149 | 5,396 | 4,448 | 4,397 | 2,106 | 38,735 | 65,231 | 656 | 65,887 | ||||||||||||||||||||
Interest | 1,665 | 1,559 | 1,430 | 1,357 | 1,263 | 14,618 | 21,892 |
Lease expenses not included in the measurement of lease liability
|
$ million | |||||||||||||
2020 | 2019 | |||||||||||||
Expense relating to short-term leases | 1,156 | 834 | ||||||||||||
Expense relating to variable lease payments not included in the lease liabilities | 1,209 | 1,091 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
190
|
2020 | $ million | ||||||||||||||||
Contractual
lease payments |
Interest | Lease liabilities | |||||||||||||||
Less than 1 year | 6,059 | 1,916 | 4,143 | ||||||||||||||
Between 1 and 5 years | 16,681 | 5,617 | 11,064 | ||||||||||||||
5 years and later | 19,999 | 6,786 | 13,213 | ||||||||||||||
Total | 42,739 | [A] | 14,319 | 28,420 |
2019 | $ million | ||||||||||
Contractual lease payments | Interest | Lease liabilities | |||||||||
Less than 1 year | 7,337 | 2,381 | 4,956 | ||||||||
Between 1 and 5 years | 17,435 | 6,141 | 11,294 | ||||||||
5 years and later | 21,340 | 7,053 | 14,287 | ||||||||
Total | 46,112 | 15,575 | 30,537 |
$ million | ||||||||||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||||||||
Current | Non-current | Current | Non-current | |||||||||||
Trade payables | 22,664 | — | 29,497 | — | ||||||||||
Other payables [A] | 6,941 | 1,843 | 6,356 | 2,060 | ||||||||||
Amounts due to joint ventures and associates | 3,281 | 39 | 3,312 | 40 | ||||||||||
Accruals and deferred income | 8,791 | 422 | 10,043 | 242 | ||||||||||
Total | 41,677 | 2,304 | 49,208 | 2,342 |
|
|
|
|
||||||||
Taxation charge
|
$ million
|
||||||||||
2020 | 2019 | 2018 | |||||||||
Current tax:
|
|||||||||||
Charge in respect of current period
|
3,272 | 7,597 | 10,415 | ||||||||
Adjustments in respect of prior periods
|
(56) | (1) | 60 | ||||||||
Total
|
3,216 | 7,596 | 10,475 | ||||||||
Deferred tax:
|
|||||||||||
Relating to the origination and reversal of temporary differences, tax losses and credits
|
(9,063) | 1,377 | 1,438 | ||||||||
Relating to changes in tax rates and legislation
|
(16) | (67) | (157) | ||||||||
Adjustments in respect of prior periods
|
430 | 147 | (41) | ||||||||
Total
|
(8,649) | 1,457 | 1,240 | ||||||||
Total taxation (credit)/charge | (5,433) | 9,053 | 11,715 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
191
|
Reconciliation of applicable tax charge at statutory tax rates to taxation charge
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
(Loss)/income before taxation | (26,967) | 25,485 | 35,621 | ||||||||
Less: share of profit of joint ventures and associates | (1,783) | (3,604) | (4,106) | ||||||||
(Loss)/income before taxation and share of profit of joint ventures and associates | (28,750) | 21,881 | 31,515 | ||||||||
Applicable tax (credit)/charge at standard statutory tax rates | (8,330) | 7,214 | 11,641 | ||||||||
Adjustments in respect of prior periods | 374 | 146 | 19 | ||||||||
Tax effects of: | |||||||||||
Derecognition/(recognition) of deferred tax assets | 1,458 | 846 | (381) | ||||||||
Expenses not deductible for tax purposes | 1,239 | 1,493 | 1,176 | ||||||||
Incentives for investment and development | (557) | (757) | (557) | ||||||||
Exchange rate differences | 339 | (34) | 623 | ||||||||
Disposals | (34) | (235) | (524) | ||||||||
Changes in tax rates and legislation | (16) | (67) | (157) | ||||||||
Income/(loss) not subject to tax at standard statutory rates | 6 | 159 | (286) | ||||||||
Other reconciling items | 88 | 288 | 161 | ||||||||
Taxation (credit)/charge | (5,433) | 9,053 | 11,715 |
Taxes payable
|
$ million | |||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||
Income taxes | 3,111 | 3,478 | ||||||
Sales taxes, excise duties and similar levies | 2,895 | 3,215 | ||||||
Total | 6,006 | 6,693 |
2020 - Deferred tax | $ million | |||||||||||||||||||
Deferred tax asset |
Decommissioning
and other provisions |
Property, plant and equipment |
Tax losses and credits
carried forward |
Retirement benefits | Other | Total | ||||||||||||||
At January 1, 2020 | 5,380 | 3,014 | 11,629 | 3,660 | 4,361 | 28,044 | ||||||||||||||
Credit/(charge) to income | 1,057 | 1,975 | 685 | (250) | 605 | 4,072 | ||||||||||||||
Currency translation differences | 140 | 163 | 286 | 122 | 58 | 769 | ||||||||||||||
Other | (10) | 80 | (104) | 242 | 60 | 268 | ||||||||||||||
At December 31, 2020 | 6,567 | 5,232 | 12,496 | 3,774 | 5,084 | 33,153 | ||||||||||||||
Deferred tax liability | ||||||||||||||||||||
At January 1, 2020 | (28,040) | (1,093) | (2,909) | (32,042) | ||||||||||||||||
Credit to income | 4,355 | 4 | 218 | 4,577 | ||||||||||||||||
Currency translation differences | (143) | (2) | (39) | (184) | ||||||||||||||||
Other | 27 | 418 | (101) | 344 | ||||||||||||||||
At December 31, 2020 | (23,801) | (673) | (2,831) | (27,305) | ||||||||||||||||
Net deferred tax asset at December 31, 2020 | 5,848 | |||||||||||||||||||
Deferred tax asset/liability as presented in the balance sheet at December 31, 2020 | ||||||||||||||||||||
Deferred tax asset | 16,311 | |||||||||||||||||||
Deferred tax liability | (10,463) |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
192
|
2019 - Deferred tax | $ million | |||||||||||||||||||
Deferred tax asset |
Decommissioning
and other provisions |
Property, plant and equipment | Tax losses and credits carried forward | Retirement benefits | Other | Total | ||||||||||||||
At January 1, 2019 | 5,859 | 3,718 | 12,167 | 3,310 | 4,276 | 29,330 | ||||||||||||||
Credit/(charge) to income | 15 | (521) | (647) | (76) | 10 | (1,219) | ||||||||||||||
Currency translation differences | 56 | 6 | 57 | (8) | (2) | 109 | ||||||||||||||
Other | (550) | (189) | 52 | 434 | 77 | (176) | ||||||||||||||
At December 31, 2019 | 5,380 | 3,014 | 11,629 | 3,660 | 4,361 | 28,044 | ||||||||||||||
Deferred tax liability | ||||||||||||||||||||
At January 1, 2019 | (27,627) | (1,674) | (2,769) | (32,070) | ||||||||||||||||
(Charge)/credit to income | (227) | 46 | (57) | (238) | ||||||||||||||||
Currency translation differences | (129) | (6) | (5) | (140) | ||||||||||||||||
Other | (57) | 541 | (78) | 406 | ||||||||||||||||
At December 31, 2019 | (28,040) | (1,093) | (2,909) | (32,042) | ||||||||||||||||
Net deferred tax liability at December 31, 2019 | (3,998) | |||||||||||||||||||
Deferred tax asset/liability as presented in the balance sheet at December 31, 2019 | ||||||||||||||||||||
Deferred tax asset | 10,524 | |||||||||||||||||||
Deferred tax liability | (14,522) |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
193
|
Financial position
|
$ million | |||||||
Dec 31, 2020 | Dec 31, 2019 | |||||||
Obligations | (115,792) | (103,545) | ||||||
Plan assets | 102,678 | 94,826 | ||||||
Asset ceilings | (17) | |||||||
Deficit | (13,131) | (8,719) | ||||||
Retirement benefits in the Consolidated Balance Sheet: | ||||||||
Non-current assets | 2,474 | 4,717 | ||||||
Non-current liabilities | (15,168) | (13,017) | ||||||
Current liabilities | (437) | (419) | ||||||
Total | (13,131) | (8,719) |
Retirement benefit expense
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Defined benefit plans: | |||||||||||
Interest expense on obligations | 1,828 | 2,364 | 2,282 | ||||||||
Interest income on plan assets | (1,657) | (2,253) | (2,087) | ||||||||
Current service cost, net of plan participants’ contributions | 1,431 | 1,188 | 1,494 | ||||||||
Other | (174) | 26 | (221) | ||||||||
Total | 1,428 | 1,325 | 1,468 | ||||||||
Defined contribution plans | 423 | 428 | 410 | ||||||||
Total retirement benefit expense | 1,851 | 1,753 | 1,878 |
Remeasurements
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Actuarial (losses)/gains on obligations: | |||||||||||
Due to changes in financial assumptions [A] | (10,150) | (11,711) | 8,186 | ||||||||
Due to experience adjustments [B] | 804 | 232 | (268) | ||||||||
Due to changes in demographic assumptions [C] | 1,375 | (75) | (459) | ||||||||
Total | (7,971) | (11,554) | 7,459 | ||||||||
Return on plan assets in excess/(shortage) of interest income | 4,509 | 8,460 | (2,312) | ||||||||
Other movements | 7 | (12) | 66 | ||||||||
Total remeasurements | (3,455) | (3,106) | 5,213 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
194
|
Defined benefit plan obligations
|
$ million, except where indicated | |||||||
2020 | 2019 | |||||||
At January 1 | 103,545 | 91,856 | ||||||
Current service cost | 1,435 | 1,186 | ||||||
Interest expense | 1,828 | 2,364 | ||||||
Actuarial losses | 7,971 | 11,554 | ||||||
Benefit payments | (4,059) | (3,961) | ||||||
Other movements | (444) | 194 | ||||||
Currency translation differences | 5,516 | 352 | ||||||
At December 31 | 115,792 | 103,545 | ||||||
Comprising: | ||||||||
Funded pension plans | 105,338 | 93,727 | ||||||
Weighted average duration | 18 years | 17 years | ||||||
Unfunded pension plans | 5,086 | 4,793 | ||||||
Weighted average duration | 13 years | 13 years | ||||||
Unfunded OPEB plans [A] | 5,368 | 5,025 | ||||||
Weighted average duration | 15 years | 14 years |
Defined benefit plan assets
|
$ million, except where indicated | |||||||
2020 | 2019 | |||||||
At January 1 | 94,826 | 85,803 | ||||||
Return on plan assets in excess of interest income | 4,509 | 8,460 | ||||||
Interest income | 1,657 | 2,253 | ||||||
Employer contributions | 614 | 1,462 | ||||||
Plan participants’ contributions | 42 | 42 | ||||||
Benefit payments | (3,843) | (3,741) | ||||||
Other movements | (281) | 160 | ||||||
Currency translation differences | 5,154 | 387 | ||||||
At December 31 | 102,678 | 94,826 | ||||||
Comprising: | ||||||||
Quoted in active markets: | ||||||||
Equities | 25 | % | 26 | % | ||||
Debt securities | 52 | % | 51 | % | ||||
Real estate | 0 | % | 1 | % | ||||
Other: | ||||||||
Equities | 8 | % | 8 | % | ||||
Debt securities | 5 | % | 4 | % | ||||
Real estate | 6 | % | 6 | % | ||||
Investment funds | 3 | % | 3 | % | ||||
Cash | 1 | % | 1 | % |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
195
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
196
|
$ million, except where indicated | |||||||||||||||||||||||||||||
Effect of using alternative assumptions | |||||||||||||||||||||||||||||
Assumptions used at nominal rates | Increase/(decrease) in defined benefit obligations | ||||||||||||||||||||||||||||
2020 [A] | 2019 |
Range
of assumptions |
2020 | 2019 | |||||||||||||||||||||||||
Rate of increase in pensionable remuneration | 3.8 | % | 4.1 | % |
-1% to +1%
|
(1,780) | to | 1,948 | (1,975) | to | 2,266 | ||||||||||||||||||
Rate of increase in pensions in payment | 1.6 | % | 1.6 | % |
-1% to +1%
|
(10,937) | to | 13,523 | (9,541) | to | 11,757 | ||||||||||||||||||
Rate of increase in health-care costs [B] | 6.0 | % | 6.1 | % |
-1% to +1%
|
(605) | to | 751 | (546) | to | 675 | ||||||||||||||||||
Discount rate for pension plans | 1.5 | % | 2.1 | % |
-1% to +1%
|
21,463 | to | (16,382) | 18,431 | to | (14,155) | ||||||||||||||||||
Discount rate for health-care plans [B] | 2.6 | % | 3.2 | % |
-1% to +1%
|
791 | to | (624) | 704 | to | (558) | ||||||||||||||||||
Expected age at death for persons aged 60: | |||||||||||||||||||||||||||||
Men | 87 years | 87 years |
-1 year to +1 year
|
(2,022) | to | 2,112 | (1,717) | to | 1,782 | ||||||||||||||||||||
Women | 88 years | 89 years |
-1 year to +1 year
|
(1,985) | to | 2,070 | (1,631) | to | 1,694 | ||||||||||||||||||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
197
|
$ million | |||||||||||||||||||||||
Decommissioning
and restoration |
Legal | Environmental | Redundancy | Other | Total | ||||||||||||||||||
At January 1, 2020 | |||||||||||||||||||||||
Current | 755 | 626 | 263 | 295 | 872 | 2,811 | |||||||||||||||||
Non-current | 18,264 | 1,185 | 934 | 220 | 1,196 | 21,799 | |||||||||||||||||
19,019 | 1,811 | 1,197 | 515 | 2,068 | 24,610 | ||||||||||||||||||
Additions | 1,697 | [A] | 502 | 199 | 986 | 2,386 | 5,770 | ||||||||||||||||
Amounts charged against provisions | (433) | (522) | (138) | (375) | (388) | (1,856) | |||||||||||||||||
Accretion expense | 448 | 17 | 21 | 1 | 10 | 497 | |||||||||||||||||
Disposals | (154) | — | (7) | — | (18) | (179) | |||||||||||||||||
Remeasurements and other movements | 2,090 | (59) | (73) | (241) | (265) | 1,452 | |||||||||||||||||
Currency translation differences | 508 | 1 | 26 | 52 | 53 | 640 | |||||||||||||||||
4,156 | (61) | 28 | 423 | 1,778 | 6,324 | ||||||||||||||||||
At December 31, 2020 | |||||||||||||||||||||||
Current | 900 | 521 | 273 | 673 | 1,257 | 3,624 | |||||||||||||||||
Non-current | 22,275 | 1,229 | 952 | 265 | 2,589 | 27,310 | |||||||||||||||||
23,175 | 1,750 | 1,225 | 938 | 3,846 | 30,934 | ||||||||||||||||||
At January 1, 2019 | |||||||||||||||||||||||
Current | 876 | 213 | 264 | 441 | 1,547 | 3,341 | |||||||||||||||||
Non-current | 17,057 | 1,247 | 1,074 | 280 | 1,528 | 21,186 | |||||||||||||||||
17,933 | 1,460 | 1,338 | 721 | 3,075 | 24,527 | ||||||||||||||||||
Additions | 625 | 585 | 229 | 290 | 535 | 2,264 | |||||||||||||||||
Amounts charged against provisions | (797) | (216) | (223) | (304) | (562) | (2,102) | |||||||||||||||||
Accretion expense | 644 | 28 | 16 | 3 | 25 | 716 | |||||||||||||||||
Disposals | (1,238) | — | (8) | — | (14) | (1,260) | |||||||||||||||||
Remeasurements and other movements | 1,696 | (45) | (155) | (192) | (988) | 316 | |||||||||||||||||
Currency translation differences | 156 | (1) | — | (3) | (3) | 149 | |||||||||||||||||
1,086 | 351 | (141) | (206) | (1,007) | 83 | ||||||||||||||||||
At December 31, 2019 | |||||||||||||||||||||||
Current | 755 | 626 | 263 | 295 | 872 | 2,811 | |||||||||||||||||
Non-current | 18,264 | 1,185 | 934 | 220 | 1,196 | 21,799 | |||||||||||||||||
19,019 | 1,811 | 1,197 | 515 | 2,068 | 24,610 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
198
|
$ million | |||||||||||||||||
Increase/(decrease)
in income before taxation |
Increase in net assets | ||||||||||||||||
2020 | 2019 | 2020 | 2019 | ||||||||||||||
10% appreciation against the dollar of: | |||||||||||||||||
Euro | (263) | 36 | 451 | 1,227 | |||||||||||||
Malaysian ringgit | 255 | 243 | 270 | 290 | |||||||||||||
Australian dollar | 179 | (55) | 598 | 835 | |||||||||||||
Sterling | (166) | (58) | 328 | 581 | |||||||||||||
Canadian dollar | 1 | (97) | 1,299 | 1,380 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
199
|
Value-at-risk (pre-tax)
|
$ million | |||||||
December 31, 2020 | December 31, 2019 | |||||||
Global oil | 24 | 22 | ||||||
North America gas and power | 14 | 12 | ||||||
Europe gas and power | 11 | 5 | ||||||
Carbon-emission rights | 7 | 4 |
2020 | $ million | |||||||||||||||||||
Amounts offset | Amounts not offset | |||||||||||||||||||
Gross amounts
before offset |
Amounts
offset |
Net amounts
as presented |
Cash collateral
received/pledged |
Other offsetting
instruments |
Net amounts | |||||||||||||||
Assets: | ||||||||||||||||||||
Within trade receivables | 10,658 | 6,470 | 4,188 | 14 | 79 | 4,095 | ||||||||||||||
Within derivative financial instruments | 12,798 | 6,125 | 6,673 | 1,573 | 1,750 | 3,350 | ||||||||||||||
Liabilities: | ||||||||||||||||||||
Within trade payables | 10,580 | 6,467 | 4,113 | 1 | 79 | 4,033 | ||||||||||||||
Within derivative financial instruments | 10,502 | 5,893 | 4,609 | 797 | 1,761 | 2,051 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
200
|
2019 | $ million | |||||||||||||||||||
Amounts offset | Amounts not offset | |||||||||||||||||||
Gross amounts
before offset |
Amounts
offset |
Net amounts
as presented |
Cash collateral
received/pledged |
Other offsetting instruments | Net amounts | |||||||||||||||
Assets: | ||||||||||||||||||||
Within trade receivables | 13,821 | 8,975 | 4,846 | 54 | 101 | 4,691 | ||||||||||||||
Within derivative financial instruments | 12,995 | 7,310 | 5,685 | 531 | 2,262 | 2,892 | ||||||||||||||
Liabilities: | ||||||||||||||||||||
Within trade payables | 13,335 | 9,029 | 4,306 | 11 | 101 | 4,194 | ||||||||||||||
Within derivative financial instruments | 12,355 | 7,253 | 5,102 | 706 | 2,262 | 2,134 |
2020 | $ million | ||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||
Designated |
Not
designated |
Total | Designated |
Not
designated |
Total | Net | |||||||||||||||||
Interest rate swaps | 451 | — | 451 | 26 | 22 | 48 | 403 | ||||||||||||||||
Forward foreign exchange contracts | — | 276 | 276 | — | 651 | 651 | (375) | ||||||||||||||||
Currency swaps and options | 1,890 | 13 | 1,903 | 280 | 63 | 343 | 1,560 | ||||||||||||||||
Commodity derivatives | — | 5,534 | 5,534 | 92 | 4,565 | 4,657 | 877 | ||||||||||||||||
Other contracts | — | 424 | 424 | — | 29 | 29 | 395 | ||||||||||||||||
Total | 2,341 | 6,247 | 8,588 | 398 | 5,330 | 5,728 | 2,860 |
2019 | $ million | ||||||||||||||||||||||
Assets | Liabilities | ||||||||||||||||||||||
Designated |
Not
designated |
Total | Designated |
Not
designated |
Total | Net | |||||||||||||||||
Interest rate swaps | 227 | 8 | 235 | 34 | 24 | 58 | 177 | ||||||||||||||||
Forward foreign exchange contracts | 7 | 236 | 243 | 2 | 309 | 311 | (68) | ||||||||||||||||
Currency swaps and options | 90 | 15 | 105 | 932 | 56 | 988 | (883) | ||||||||||||||||
Commodity derivatives | — | 6,914 | 6,914 | — | 5,281 | 5,281 | 1,633 | ||||||||||||||||
Other contracts | — | 341 | 341 | — | — | — | 341 | ||||||||||||||||
Total | 324 | 7,514 | 7,838 | 968 | 5,670 | 6,638 | 1,200 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
201
|
2020 | $ million | ||||||||||||||||||||||||||||
Contractual maturities | |||||||||||||||||||||||||||||
Less than
1 year |
Between
1 and 2 years |
Between
2 and 3 years |
Between
3 and 4 years |
Between
4 and 5 years |
5 years
and later |
Total |
Difference
from carrying amount [A] |
Carrying
amount |
|||||||||||||||||||||
Interest rate swaps | 12 | 10 | 9 | 7 | 5 | 6 | 49 | (1) | 48 | ||||||||||||||||||||
Forward foreign exchange contracts | 504 | 56 | 22 | 38 | — | — | 620 | 31 | 651 | ||||||||||||||||||||
Currency swaps and options | 174 | 13 | 28 | — | 159 | — | 374 | (31) | 343 | ||||||||||||||||||||
Commodity derivatives | 2,990 | 743 | 265 | 174 | 115 | 391 | 4,678 | (21) | 4,657 | ||||||||||||||||||||
Other contracts | 15 | 15 | — | — | — | — | 30 | (1) | 29 | ||||||||||||||||||||
Total | 3,695 | 837 | 324 | 219 | 279 | 397 | 5,751 | (23) | 5,728 |
2019 | $ million | ||||||||||||||||||||||||||||
Contractual maturities | |||||||||||||||||||||||||||||
Less than
1 year |
Between
1 and 2 years |
Between
2 and 3 years |
Between
3 and 4 years |
Between
4 and 5 years |
5 years
and later |
Total |
Difference
from carrying amount [A] |
Carrying
amount |
|||||||||||||||||||||
Interest rate swaps | 35 | 8 | 4 | 4 | 5 | 4 | 60 | (2) | 58 | ||||||||||||||||||||
Forward foreign exchange contracts | 214 | 40 | 8 | — | 118 | — | 380 | (69) | 311 | ||||||||||||||||||||
Currency swaps and options | 255 | 475 | 444 | 201 | 204 | 1,777 | 3,356 | (2,368) | 988 | ||||||||||||||||||||
Commodity derivatives | 3,472 | 756 | 349 | 189 | 123 | 511 | 5,400 | (119) | 5,281 | ||||||||||||||||||||
Other contracts | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Total | 3,976 | 1,279 | 805 | 394 | 450 | 2,292 | 9,196 | (2,558) | 6,638 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
202
|
2020 | $ million | |||||||||||||
Prices in active markets for identical
assets/liabilities |
Other
observable inputs |
Unobservable
inputs |
Total | |||||||||||
Interest rate swaps | — | 403 | — | 403 | ||||||||||
Forward foreign exchange contracts | — | (375) | — | (375) | ||||||||||
Currency swaps and options | — | 1,560 | — | 1,560 | ||||||||||
Commodity derivatives | 37 | (237) | 1,077 | 877 | ||||||||||
Other contracts | 20 | 375 | — | 395 | ||||||||||
Total | 57 | 1,726 | 1,077 | 2,860 |
2019 | $ million | |||||||||||||
Prices in active markets for identical
assets/liabilities |
Other
observable inputs |
Unobservable
inputs |
Total | |||||||||||
Interest rate swaps | — | 177 | — | 177 | ||||||||||
Forward foreign exchange contracts | — | (68) | — | (68) | ||||||||||
Currency swaps and options | — | (883) | — | (883) | ||||||||||
Commodity derivatives | (6) | 895 | 744 | 1,633 | ||||||||||
Other contracts | 27 | 304 | 10 | 341 | ||||||||||
Total | 21 | 425 | 754 | 1,200 |
Net carrying amounts of derivative contracts measured using predominantly unobservable inputs
|
$ million | |||||||
2020 | 2019 | |||||||
At January 1 | 754 | (27) | ||||||
Net gains recognised in revenue | 564 | 1,085 | ||||||
Purchases | 217 | 453 | ||||||
Sales | (450) | (633) | ||||||
Settlements | (9) | — | ||||||
Recategorisations (net) | (12) | (125) | ||||||
Currency translation differences | 13 | 1 | ||||||
At December 31 | 1,077 | 754 |
$ million | ||||||||
2020 | 2019 | |||||||
At January 1 | 929 | 388 | ||||||
Movements | 39 | 541 | ||||||
At December 31 | 968 | 929 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
203
|
Issued and fully paid ordinary shares of €0.07 each [A]
|
|||||||||||||||||
Number of shares | Nominal value ($ million) | ||||||||||||||||
A | B | A | B | Total | |||||||||||||
At January 1, 2020 | 4,151,787,517 | 3,729,407,107 | 349 | 308 | 657 | ||||||||||||
Repurchases of shares | (50,548,018) | (23,223,271) | (4) | (2) | (6) | ||||||||||||
At December 31, 2020 | 4,101,239,499 | 3,706,183,836 | 345 | 306 | 651 | ||||||||||||
At January 1, 2019 | 4,471,889,296 | 3,745,486,731 | 376 | 309 | 685 | ||||||||||||
Repurchases of shares | (320,101,779) | (16,079,624) | (27) | (1) | (28) | ||||||||||||
At December 31, 2019 | 4,151,787,517 | 3,729,407,107 | 349 | 308 | 657 |
Share-based compensation expense | $ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Equity-settled [A] | 359 | 537 | 531 | ||||||||
Total | 359 | 537 | 531 |
Share awards under the PSP and LTIP
|
||||||||||||||
Number of A shares
(million) |
Number of B shares
(million) |
Number of A ADSs
(million) |
Weighted Average remaining contractual life (years) | |||||||||||
At January 1, 2020 | 29 | 10 | 8 | 1.0 | ||||||||||
Granted | 10 | 4 | 3 | |||||||||||
Vested | (9) | (4) | (3) | |||||||||||
Forfeited | (1) | — | — | |||||||||||
At December 31, 2020 | 29 | 10 | 8 | 1.0 | ||||||||||
At January 1, 2019 | 30 | 12 | 8 | 1.0 | ||||||||||
Granted | 11 | 3 | 3 | |||||||||||
Vested | (11) | (5) | (3) | |||||||||||
Forfeited | (1) | — | — | |||||||||||
At December 31, 2019 | 29 | 10 | 8 | 1.0 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
204
|
Other reserves attributable to Royal Dutch Shell plc shareholders
|
$ million | |||||||||||||||||||
Merger
reserve |
Share
premium reserve |
Capital
redemption reserve |
Share plan
reserve |
Accumulated
other comprehensive income |
Total | |||||||||||||||
At January 1, 2020 | 37,298 | 154 | 123 | 1,049 | (24,173) | 14,451 | ||||||||||||||
Other comprehensive loss attributable to Royal Dutch Shell plc shareholders
|
— | — | — | — | (1,832) | (1,832) | ||||||||||||||
Transfer from other comprehensive income | — | — | — | — | 270 | 270 | ||||||||||||||
Repurchases of shares | — | — | 6 | — | — | 6 | ||||||||||||||
Share-based compensation | — | — | — | (143) | — | (143) | ||||||||||||||
At December 31, 2020 | 37,298 | 154 | 129 | 906 | (25,735) | 12,752 | ||||||||||||||
At January 1, 2019
|
37,298 | 154 | 95 | 1,098 | (22,030) | 16,615 | ||||||||||||||
Other comprehensive loss attributable to Royal Dutch Shell plc shareholders | — | — | — | — | (2,069) | (2,069) | ||||||||||||||
Transfer from other comprehensive income | — | — | — | — | (74) | (74) | ||||||||||||||
Repurchases of shares | — | — | 28 | — | — | 28 | ||||||||||||||
Share-based compensation | — | — | — | (49) | — | (49) | ||||||||||||||
At December 31, 2019 | 37,298 | 154 | 123 | 1,049 | (24,173) | 14,451 | ||||||||||||||
At January 1, 2018 | 37,298 | 154 | 84 | 1,440 | (22,182) | 16,794 | ||||||||||||||
Other comprehensive income attributable to Royal Dutch Shell plc shareholders | — | — | — | — | 1,123 | 1,123 | ||||||||||||||
Transfer from other comprehensive income | — | — | — | — | (971) | (971) | ||||||||||||||
Repurchases of shares | — | — | 11 | — | — | 11 | ||||||||||||||
Share-based compensation | — | — | — | (342) | — | (342) | ||||||||||||||
At December 31, 2018 | 37,298 | 154 | 95 | 1,098 | (22,030) | 16,615 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
205
|
Accumulated other comprehensive income attributable to Royal Dutch Shell plc shareholders
|
$ million | |||||||||||||||||||||||||
Currency
translation differences [A] |
Equity
instruments remeasurements |
Debt
instruments remeasurements |
Cash flow
hedging (losses)/gains [A] |
Net investment
hedging (losses)/gains [A] |
Deferred
cost of hedging |
Retirement
benefits remeasurements |
Total | |||||||||||||||||||
At January 1, 2020 | (9,415) | 793 | 8 | (233) | (2,016) | (287) | (13,023) | (24,173) | ||||||||||||||||||
Recognised in other comprehensive income | 1,204 | 68 | 31 | (9) | (423) | 17 | (3,455) | (2,567) | ||||||||||||||||||
Reclassified to income | (28) | — | (8) | (173) | — | 94 | — | (115) | ||||||||||||||||||
Reclassified to the balance sheet | — | — | — | 16 | — | — | 16 | |||||||||||||||||||
Reclassified to retained earnings | — | 169 | — | — | — | 101 | 270 | |||||||||||||||||||
Tax on amounts recognised/reclassified | 3 | (4) | — | 6 | (11) | 753 | 747 | |||||||||||||||||||
Total, net of tax | 1,179 | 233 | 23 | (160) | (423) | 100 | (2,601) | (1,649) | ||||||||||||||||||
Share of joint ventures and associates | 51 | 118 | — | (92) | — | — | 77 | |||||||||||||||||||
Other comprehensive income/(loss) for the period | 1,230 | 351 | 23 | (252) | (423) | 100 | (2,601) | (1,572) | ||||||||||||||||||
Less: non-controlling interest | 10 | — | — | — | — | — | 10 | |||||||||||||||||||
Attributable to Royal Dutch Shell plc shareholders | 1,240 | 351 | 23 | (252) | (423) | 100 | (2,601) | (1,562) | ||||||||||||||||||
At December 31, 2020 | (8,175) | 1,144 | 31 | (485) | (2,439) | (187) | (15,624) | (25,735) | ||||||||||||||||||
At January 1, 2019
|
(9,722) | 906 | (21) | 117 | (2,025) | (353) | (10,932) | (22,030) | ||||||||||||||||||
Recognised in other comprehensive income | 302 | (17) | 24 | (592) | 13 | 9 | (3,106) | (3,367) | ||||||||||||||||||
Reclassified to income | 38 | — | 5 | 268 | — | 86 | — | 397 | ||||||||||||||||||
Reclassified to the balance sheet | — | — | — | 11 | — | — | 11 | |||||||||||||||||||
Reclassified to retained earnings | — | (85) | — | — | — | 11 | (74) | |||||||||||||||||||
Tax on amounts recognised/reclassified | 4 | (13) | — | 37 | (4) | (29) | 1,004 | 999 | ||||||||||||||||||
Total, net of tax | 344 | (115) | 29 | (276) | 9 | 66 | (2,091) | (2,034) | ||||||||||||||||||
Share of joint ventures and associates | (2) | 2 | — | (74) | — | — | (74) | |||||||||||||||||||
Other comprehensive loss for the period | 342 | (113) | 29 | (350) | 9 | 66 | (2,091) | (2,108) | ||||||||||||||||||
Less: non-controlling interest | (35) | — | — | — | — | — | (35) | |||||||||||||||||||
Attributable to Royal Dutch Shell plc shareholders | 307 | (113) | 29 | (350) | 9 | 66 | (2,091) | (2,143) | ||||||||||||||||||
At December 31, 2019 | (9,415) | 793 | 8 | (233) | (2,016) | (287) | (13,023) | (24,173) | ||||||||||||||||||
At January 1, 2018 | (6,711) | 1,975 | (6) | (627) | (2,024) | (144) | (14,645) | (22,182) | ||||||||||||||||||
Recognised in other comprehensive income | (3,793) | (147) | (15) | 50 | (1) | (362) | 5,213 | 945 | ||||||||||||||||||
Reclassified to income | 651 | — | — | 722 | — | 95 | — | 1,468 | ||||||||||||||||||
Reclassified to the balance sheet | — | — | — | (30) | — | — | (30) | |||||||||||||||||||
Reclassified to retained earnings | — | (1,108) | — | — | — | 137 | (971) | |||||||||||||||||||
Tax on amounts recognised/reclassified | (29) | (6) | — | (12) | 58 | (1,625) | (1,614) | |||||||||||||||||||
Total, net of tax | (3,171) | (1,261) | (15) | 730 | (1) | (209) | 3,725 | (202) | ||||||||||||||||||
Share of joint ventures and associates | (25) | 193 | — | 14 | — | 1 | 183 | |||||||||||||||||||
Other comprehensive loss/income for the period | (3,196) | (1,068) | (15) | 744 | (1) | (209) | 3,726 | (19) | ||||||||||||||||||
Less: non-controlling interest | 185 | (1) | — | — | — | (13) | 171 | |||||||||||||||||||
Attributable to Royal Dutch Shell plc shareholders | (3,011) | (1,069) | (15) | 744 | (1) | (209) | 3,713 | 152 | ||||||||||||||||||
At December 31, 2018 | (9,722) | 906 | (21) | 117 | (2,025) | (353) | (10,932) | (22,030) |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
206
|
Interim dividends
|
$ per share | $ million | ||||||||||||||||||||||||
2020 | 2019 | 2018 | 2020 | 2019 | 2018 | |||||||||||||||||||||
A shares: | ||||||||||||||||||||||||||
Cash: | ||||||||||||||||||||||||||
March | 0.47 | 0.47 | 0.47 | 1,862 | 2,100 | 2,176 | ||||||||||||||||||||
June | 0.16 | 0.47 | 0.47 | 653 | 2,062 | 2,140 | ||||||||||||||||||||
September | 0.16 | 0.47 | 0.47 | 654 | 2,007 | 2,165 | ||||||||||||||||||||
December | 0.1665 | 0.47 | 0.47 | 691 | 1,978 | 2,124 | ||||||||||||||||||||
Total - A shares | 0.9565 | 1.88 | 1.88 | 3,860 | 8,147 | 8,605 | ||||||||||||||||||||
B shares: | ||||||||||||||||||||||||||
Cash: | ||||||||||||||||||||||||||
March | 0.47 | 0.47 | 0.47 | 1,620 | 1,775 | 1,794 | ||||||||||||||||||||
June | 0.16 | 0.47 | 0.47 | 586 | 1,762 | 1,746 | ||||||||||||||||||||
September | 0.16 | 0.47 | 0.47 | 582 | 1,765 | 1,784 | ||||||||||||||||||||
December | 0.1665 | 0.47 | 0.47 | 622 | 1,749 | 1,746 | ||||||||||||||||||||
Total - B shares | 0.9565 | 1.88 | 1.88 | 3,410 | 7,051 | 7,070 | ||||||||||||||||||||
Total | 7,270 | 15,198 | 15,675 |
2020 | 2019 | 2018 | |||||||||
(Loss)/income attributable to Royal Dutch Shell plc shareholders ($ million) | (21,680) | 15,842 | 23,352 | ||||||||
Weighted average number of A and B shares used as the basis for determining: | |||||||||||
Basic earnings per share (million of shares) | 7,795.6 | 8,058.3 | 8,282.8 | ||||||||
Diluted earnings per share (million of shares) | 7,795.6 | 8,112.5 | 8,348.7 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL FORM 20-F 2020 |
207
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
208
|
Employee costs
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Remuneration | 9,128 | 10,075 | 10,167 | ||||||||
Social security contributions | 793 | 844 | 810 | ||||||||
Retirement benefits (see Note 17) | 1,851 | 1,753 | 1,878 | ||||||||
Share-based compensation (see Note 21) | 359 | 537 | 531 | ||||||||
Total [A] | 12,131 | 13,209 | 13,386 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
209
|
Average employee numbers
|
Thousand | ||||||||||
2020 | 2019 | 2018 | |||||||||
Integrated Gas | 11 | 10 | 9 | ||||||||
Upstream [A] | 14 | 14 | 14 | ||||||||
Oil Products [A] | 34 | 32 | 35 | ||||||||
Chemicals [A] | 2 | 4 | 4 | ||||||||
Corporate [B] | 25 | 23 | 20 | ||||||||
Total [C] | 86 | 83 | 82 |
Remuneration of Directors of the Company
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Emoluments | 6 | 8 | 12 | ||||||||
Value of released awards under long-term incentive plans | 6 | 12 | 20 | ||||||||
Employer contributions to pension plans | 1 | 1 | 1 |
Directors and Senior Management expense
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Short-term benefits | 14 | 18 | 26 | ||||||||
Retirement benefits | 3 | 3 | 3 | ||||||||
Share-based compensation | 17 | 15 | 14 | ||||||||
Termination and related amounts | 2 | 2 | — | ||||||||
Total | 36 | 38 | 43 |
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Fees in respect of the audit of the Consolidated and Parent Company Financial Statements, including audit of consolidation returns | 36 | 32 | 31 | ||||||||
Other audit fees, principally in respect of audits of accounts of subsidiaries | 17 | 18 | 16 | ||||||||
Total audit fees | 53 | 50 | 47 | ||||||||
Audit-related fees | 3 | 4 | 5 | ||||||||
Fees in respect of other non-audit services [A] | 2 | — | 1 | ||||||||
Total | 58 | 54 | 53 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
210
|
2020 | $ million | |||||||||||||||||||
ETS and related schemes | Biofuels | Renewable power | Total | |||||||||||||||||
Emission and related cost recognised in the Income Statement | 150 | [A] | 1,137 | [B] | 364 | 1,651 | ||||||||||||||
Purchased certificates presented under intangible assets | 157 | 780 | 76 | 1,013 | ||||||||||||||||
Obligation at the end of the period presented under other liabilities | (154) | [C] | (1,603) | (296) | (2,053) | |||||||||||||||
Of which: | ||||||||||||||||||||
Short term | (154) | (1,549) | (290) | (1,993) | ||||||||||||||||
Long term | — | (54) | (6) | (60) | ||||||||||||||||
Net asset/(liability) at the end of the period | 3 | (823) | (220) | (1,040) |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
211
|
SUPPLEMENTARY INFORMATION – OIL AND GAS (UNAUDITED) | |||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
212
|
Proved developed and undeveloped reserves 2020 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 274 | 1,551 | 121 | 395 | 982 | 18 | 607 | — | 1,033 | 4,374 | 607 | — | 4,981 | ||||||||||||||||||||||||||||
Revisions and reclassifications | (46) | 181 | (41) | 42 | (116) | (2) | 57 | — | (82) | (63) | 57 | — | (6) | ||||||||||||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Extensions and discoveries | — | 14 | — | — | 27 | 7 | — | — | — | 48 | — | — | 48 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | 9 | — | — | — | — | — | — | — | 9 | — | — | 9 | ||||||||||||||||||||||||||||
Sales of minerals in place | (1) | — | — | — | — | — | — | — | — | (1) | — | — | (1) | ||||||||||||||||||||||||||||
Production [A] | (49) | (182) | (7) | (58) | (165) | (9) | (20) | — | (136) | (606) | (20) | — | (626) | ||||||||||||||||||||||||||||
At December 31 | 178 | 1,573 | 73 | 379 | 728 | 15 | 644 | — | 815 | 3,761 | 644 | — | 4,405 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 12 | 271 | — | — | — | — | — | — | — | 283 | — | — | 283 | ||||||||||||||||||||||||||||
Revisions and reclassifications | (5) | (27) | — | — | — | — | — | — | — | (32) | — | — | (32) | ||||||||||||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Extensions and discoveries | — | — | — | — | — | — | — | — | 1 | 1 | — | — | 1 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Sales of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Production | (1) | (34) | — | — | — | — | — | — | (1) | (36) | — | — | (36) | ||||||||||||||||||||||||||||
At December 31 | 6 | 210 | — | — | — | — | — | — | — | 216 | — | — | 216 | ||||||||||||||||||||||||||||
Total | 184 | 1,783 | 73 | 379 | 728 | 15 | 644 | — | 815 | 3,977 | 644 | — | 4,621 | ||||||||||||||||||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31 | 0 | — | — | — | — | — | 322 | — | — | — | 322 | — | 322 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
213
|
Proved developed reserves 2020 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America
|
|||||||||||||||||||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
South America
|
Total
|
||||||||||||||||||||||||||||||||||
Oil and NGL
|
Oil and NGL
|
Oil and NGL
|
Oil and NGL
|
Oil and NGL
|
Oil and NGL
|
Synthetic crude oil
|
Bitumen
|
Oil and NGL
|
Oil and NGL
|
Synthetic crude oil
|
Bitumen
|
All products
|
|||||||||||||||||||||||||||||
Shell subsidiaries
|
|||||||||||||||||||||||||||||||||||||||||
At January 1
|
156 | 1,403 | 106 | 314 | 641 | 15 | 607 | — | 675 | 3,310 | 607 | — | 3,917 | ||||||||||||||||||||||||||||
At December 31
|
103 | 1,417 | 69 | 316 | 539 | 12 | 644 | — | 674 | 3,130 | 644 | — | 3,774 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1
|
11 | 240 | — | — | — | — | — | — | — | 251 | — | — | 251 | ||||||||||||||||||||||||||||
At December 31
|
6 | 192 | — | — | — | — | — | — | 1 | 199 | — | — | 199 |
Proved undeveloped reserves 2020 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 118 | 149 | 15 | 80 | 341 | 3 | — | — | 358 | 1,064 | — | — | 1,064 | ||||||||||||||||||||||||||||
At December 31 | 76 | 156 | 5 | 63 | 189 | 3 | — | — | 141 | 633 | — | — | 633 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 1 | 31 | — | — | — | — | — | — | — | 32 | — | — | 32 | ||||||||||||||||||||||||||||
At December 31 | — | 18 | — | — | — | — | — | — | — | 18 | — | — | 18 |
Proved developed and undeveloped reserves 2019 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 368 | 1,502 | 129 | 420 | 1,017 | 23 | 661 | — | 1,027 | 4,486 | 661 | — | 5,147 | ||||||||||||||||||||||||||||
Revisions and reclassifications | 27 | 226 | 2 | 33 | 86 | (2) | (34) | — | 72 | 444 | (34) | — | 410 | ||||||||||||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | 4 | 4 | — | — | 4 | ||||||||||||||||||||||||||||
Extensions and discoveries | — | 7 | — | 6 | 74 | 11 | — | — | 60 | 158 | — | — | 158 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | — | — | — | 5 | — | — | — | — | 5 | — | — | 5 | ||||||||||||||||||||||||||||
Sales of minerals in place | (65) | — | — | — | (29) | (2) | — | — | — | (96) | — | — | (96) | ||||||||||||||||||||||||||||
Production [A] | (56) | (184) | (10) | (64) | (171) | (12) | (20) | — | (130) | (627) | (20) | — | (647) | ||||||||||||||||||||||||||||
At December 31 | 274 | 1,551 | 121 | 395 | 982 | 18 | 607 | — | 1,033 | 4,374 | 607 | — | 4,981 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 9 | 281 | — | — | — | — | — | — | — | 290 | — | — | 290 | ||||||||||||||||||||||||||||
Revisions and reclassifications | 4 | 21 | — | — | — | — | — | — | — | 25 | — | — | 25 | ||||||||||||||||||||||||||||
Improved recovery | — | 4 | — | — | — | — | — | — | — | 4 | — | — | 4 | ||||||||||||||||||||||||||||
Extensions and discoveries | — | 2 | — | — | — | — | — | — | — | 2 | — | — | 2 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Sales of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Production | (1) | (37) | — | — | — | — | — | — | — | (38) | — | — | (38) | ||||||||||||||||||||||||||||
At December 31 | 12 | 271 | — | — | — | — | — | — | — | 283 | — | — | 283 | ||||||||||||||||||||||||||||
Total | 286 | 1,822 | 121 | 395 | 982 | 18 | 607 | — | 1,033 | 4,657 | 607 | — | 5,264 | ||||||||||||||||||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31 | — | — | — | — | — | — | 304 | — | — | — | 304 | — | 304 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
214
|
Proved developed reserves 2019 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 243 | 1,318 | 108 | 335 | 629 | 21 | 661 | — | 634 | 3,288 | 661 | — | 3,949 | ||||||||||||||||||||||||||||
At December 31 | 156 | 1,403 | 106 | 314 | 641 | 15 | 607 | — | 675 | 3,310 | 607 | — | 3,917 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 8 | 251 | — | — | — | — | — | — | — | 259 | — | — | 259 | ||||||||||||||||||||||||||||
At December 31 | 11 | 240 | — | — | — | — | — | — | — | 251 | — | — | 251 |
Proved undeveloped reserves 2019 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 124 | 185 | 21 | 85 | 388 | 2 | — | — | 394 | 1,199 | — | — | 1,199 | ||||||||||||||||||||||||||||
At December 31 | 118 | 149 | 15 | 80 | 341 | 3 | — | — | 358 | 1,064 | — | — | 1,064 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 1 | 30 | — | — | — | — | — | — | — | 31 | — | — | 31 | ||||||||||||||||||||||||||||
At December 31 | 1 | 31 | — | — | — | — | — | — | — | 32 | — | — | 32 |
Proved developed and undeveloped reserves 2018 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 356 | 1,482 | 132 | 463 | 899 | 22 | 649 | — | 946 | 4,300 | 649 | — | 4,949 | ||||||||||||||||||||||||||||
Revisions and reclassifications | 94 | 227 | 14 | 18 | 81 | 7 | 32 | — | 48 | 489 | 32 | — | 521 | ||||||||||||||||||||||||||||
Improved recovery | — | 27 | — | — | — | — | — | — | 14 | 41 | — | — | 41 | ||||||||||||||||||||||||||||
Extensions and discoveries | 2 | 3 | — | — | 179 | 6 | — | — | 139 | 329 | — | — | 329 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | 3 | 3 | — | — | 3 | ||||||||||||||||||||||||||||
Sales of minerals in place | (14) | (52) | (8) | — | (2) | — | — | — | — | (76) | — | — | (76) | ||||||||||||||||||||||||||||
Production [A] | (70) | (185) | (9) | (61) | (140) | (13) | (20) | — | (122) | (600) | (20) | — | (620) | ||||||||||||||||||||||||||||
At December 31 | 368 | 1,502 | 129 | 420 | 1,017 | 23 | 661 | — | 1,027 | 4,486 | 661 | — | 5,147 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 12 | 301 | — | — | — | — | — | — | — | 313 | — | — | 313 | ||||||||||||||||||||||||||||
Revisions and reclassifications | (2) | (2) | — | — | — | — | — | — | — | (4) | — | — | (4) | ||||||||||||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Extensions and discoveries | — | 18 | — | — | — | — | — | — | — | 18 | — | — | 18 | ||||||||||||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Sales of minerals in place | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Production | (1) | (37) | — | — | — | — | — | — | — | (38) | — | — | (38) | ||||||||||||||||||||||||||||
At December 31 | 9 | 281 | — | — | — | — | — | — | — | 290 | — | — | 290 | ||||||||||||||||||||||||||||
Total | 377 | 1,783 | 129 | 420 | 1,017 | 23 | 661 | — | 1,027 | 4,776 | 661 | — | 5,437 | ||||||||||||||||||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31 | — | — | — | — | — | — | 331 | — | — | — | 331 | — | 331 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
215
|
Proved developed reserves 2018 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 250 | 1,364 | 46 | 373 | 569 | 21 | 649 | — | 651 | 3,274 | 649 | — | 3,923 | ||||||||||||||||||||||||||||
At December 31 | 243 | 1,318 | 108 | 335 | 629 | 21 | 661 | — | 634 | 3,288 | 661 | — | 3,949 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 11 | 253 | — | — | — | — | — | — | — | 264 | — | — | 264 | ||||||||||||||||||||||||||||
At December 31 | 8 | 251 | — | — | — | — | — | — | — | 259 | — | — | 259 |
Proved undeveloped reserves 2018 | Million barrels | ||||||||||||||||||||||||||||||||||||||||
North America | |||||||||||||||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | South America | Total | ||||||||||||||||||||||||||||||||||
Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | Oil and NGL | Oil and NGL | Synthetic crude oil | Bitumen | All products | |||||||||||||||||||||||||||||
Shell subsidiaries | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 106 | 118 | 86 | 90 | 330 | 1 | — | — | 295 | 1,026 | — | — | 1,026 | ||||||||||||||||||||||||||||
At December 31 | 124 | 185 | 21 | 85 | 388 | 2 | — | — | 394 | 1,199 | — | — | 1,199 | ||||||||||||||||||||||||||||
Shell share of joint ventures and associates | |||||||||||||||||||||||||||||||||||||||||
At January 1 | 1 | 48 | — | — | — | — | — | — | — | 49 | — | — | 49 | ||||||||||||||||||||||||||||
At December 31 | 1 | 30 | — | — | — | — | — | — | — | 31 | — | — | 31 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
216
|
Proved developed and undeveloped reserves 2020 | Thousand million standard cubic feet | |||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 2,998 | 10,618 | 8,360 | 2,608 | 1,868 | 1,281 | 1,259 | 28,992 | ||||||||||||||||||
Revisions and reclassifications | (209) | 249 | (3,512) | 93 | (319) | 59 | 162 | (3,477) | ||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | ||||||||||||||||||
Extensions and discoveries | — | 2 | 33 | 5 | 66 | 122 | — | 228 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Sales of minerals in place | (28) | (29) | — | — | (542) | — | — | (599) | ||||||||||||||||||
Production [A] | (319) | (913) | (705) | (343) | (272) | (167) | (293) | (3,012) | ||||||||||||||||||
At December 31 | 2,442 | 9,927 | 4,176 | 2,363 | 801 | 1,295 | 1,128 | 22,132 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 595 | 4,198 | 36 | — | — | — | — | 4,829 | ||||||||||||||||||
Revisions and reclassifications | (200) | (62) | 27 | — | — | — | 1 | (234) | ||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | ||||||||||||||||||
Extensions and discoveries | — | 1 | — | — | — | — | 1 | 2 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Sales of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Production [B] | (133) | (459) | (22) | — | — | — | (1) | (615) | ||||||||||||||||||
At December 31 | 262 | 3,678 | 41 | — | — | — | 1 | 3,982 | ||||||||||||||||||
Total
|
2,703 | 13,605 | 4,219 | 2,363 | 801 | 1,295 | 1,128 | 26,114 | ||||||||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31 | — | — | — | — | — | — | — | — |
Proved developed reserves 2020 | Thousand million standard cubic feet | |||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 2,060 | 10,091 | 5,769 | 1,523 | 1,615 | 781 | 968 | 22,807 | ||||||||||||||||||
At December 31 | 1,590 | 9,675 | 3,656 | 1,341 | 670 | 720 | 924 | 18,576 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 555 | 3,519 | 36 | — | — | — | — | 4,110 | ||||||||||||||||||
At December 31 | 227 | 3,175 | 42 | — | — | — | 1 | 3,445 |
Proved undeveloped reserves 2020 | Thousand million standard cubic feet | |||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 937 | 528 | 2,591 | 1,085 | 254 | 499 | 291 | 6,185 | ||||||||||||||||||
At December 31 | 852 | 252 | 520 | 1,022 | 132 | 575 | 203 | 3,556 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 39 | 680 | — | — | — | — | — | 719 | ||||||||||||||||||
At December 31 | 35 | 502 | — | — | — | — | — | 537 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
217
|
Proved developed and undeveloped reserves 2019 | Thousand million standard cubic feet | |||||||||||||||||||||||||
North America | South America | |||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Shell subsidiaries | ||||||||||||||||||||||||||
At January 1 | 3,600 | 10,631 | 8,427 | 2,544 | 2,147 | 989 | 1,509 | 29,847 | ||||||||||||||||||
Revisions and reclassifications | (46) | 859 | 699 | 290 | 114 | 235 | 29 | 2,180 | ||||||||||||||||||
Improved recovery | — | — | — | — | — | — | 3 | 3 | ||||||||||||||||||
Extensions and discoveries | — | 36 | — | 152 | 142 | 317 | 37 | 684 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | 5 | — | — | 5 | ||||||||||||||||||
Sales of minerals in place | (210) | — | — | — | (132) | (30) | — | (372) | ||||||||||||||||||
Production [A] | (346) | (908) | (766) | (378) | (408) | (230) | (319) | (3,355) | ||||||||||||||||||
At December 31 | 2,998 | 10,618 | 8,360 | 2,608 | 1,868 | 1,281 | 1,259 | 28,992 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 1,163 | 4,581 | 24 | — | — | — | — | 5,768 | ||||||||||||||||||
Revisions and reclassifications | (322) | 64 | 34 | — | — | — | — | (224) | ||||||||||||||||||
Improved recovery | — | 1 | — | — | — | — | — | 1 | ||||||||||||||||||
Extensions and discoveries | — | 5 | — | — | — | — | — | 5 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Sales of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Production [B] | (246) | (453) | (22) | — | — | — | — | (721) | ||||||||||||||||||
At December 31 | 595 | 4,198 | 36 | — | — | — | — | 4,829 | ||||||||||||||||||
Total | 3,593 | 14,816 | 8,396 | 2,608 | 1,868 | 1,281 | 1,259 | 33,821 | ||||||||||||||||||
Reserves attributable to non-controlling interest in shell subsidiaries at December 31 | — | — | — | — | — | — | — | — |
Proved developed reserves 2019 |
Thousand million standard cubic feet
|
|||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 2,658 | 10,092 | 5,820 | 1,573 | 1,706 | 721 | 1,238 | 23,808 | ||||||||||||||||||
At December 31 | 2,060 | 10,091 | 5,769 | 1,523 | 1,615 | 781 | 968 | 22,807 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 1,136 | 3,938 | 24 | — | — | — | — | 5,099 | ||||||||||||||||||
At December 31 | 555 | 3,519 | 36 | — | — | — | — | 4,110 |
Proved undeveloped reserves 2019 |
Thousand million standard cubic feet
|
|||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 942 | 539 | 2,607 | 971 | 441 | 268 | 271 | 6,039 | ||||||||||||||||||
At December 31 | 937 | 528 | 2,591 | 1,085 | 254 | 499 | 291 | 6,185 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 27 | 643 | — | — | — | — | — | 670 | ||||||||||||||||||
At December 31 | 39 | 680 | — | — | — | — | — | 719 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
218
|
Proved developed and undeveloped reserves 2018 |
Thousand million standard cubic feet
|
|||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 3,100 | 11,822 | 7,978 | 2,082 | 2,569 | 1,272 | 1,501 | 30,324 | ||||||||||||||||||
Revisions and reclassifications | 1,183 | (483) | 1,438 | 896 | (296) | (153) | 181 | 2,766 | ||||||||||||||||||
Improved recovery | — | — | — | — | — | — | 7 | 7 | ||||||||||||||||||
Extensions and discoveries | 3 | 354 | — | — | 283 | 131 | 65 | 836 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | 14 | 14 | ||||||||||||||||||
Sales of minerals in place | (192) | (157) | (232) | — | (32) | — | — | (613) | ||||||||||||||||||
Production [A] | (494) | (906) | (757) | (434) | (377) | (261) | (258) | (3,487) | ||||||||||||||||||
At December 31 | 3,600 | 10,631 | 8,427 | 2,544 | 2,147 | 989 | 1,509 | 29,847 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 5,125 | 4,964 | 19 | — | — | — | — | 10,108 | ||||||||||||||||||
Revisions and reclassifications | (3,653) | 62 | 25 | — | — | — | — | (3,566) | ||||||||||||||||||
Improved recovery | — | — | — | — | — | — | — | — | ||||||||||||||||||
Extensions and discoveries | — | 5 | — | — | — | — | — | 5 | ||||||||||||||||||
Purchases of minerals in place | — | — | — | — | — | — | — | — | ||||||||||||||||||
Sales of minerals in place | (37) | — | — | — | — | — | — | (37) | ||||||||||||||||||
Production [B] | (273) | (450) | (20) | — | — | — | — | (743) | ||||||||||||||||||
At December 31 | 1,163 | 4,581 | 24 | — | — | — | — | 5,768 | ||||||||||||||||||
Total
|
4,763 | 15,212 | 8,451 | 2,544 | 2,147 | 989 | 1,509 | 35,615 | ||||||||||||||||||
Reserves attributable to non-controlling interest in Shell subsidiaries at December 31 | — | — | — | — | — | — | — | — |
Proved developed reserves 2018 |
Thousand million standard cubic feet
|
|||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Shell subsidiaries
|
||||||||||||||||||||||||||
At January 1 | 2,978 | 11,460 | 5,026 | 1,493 | 1,652 | 859 | 1,225 | 24,693 | ||||||||||||||||||
At December 31 | 2,658 | 10,092 | 5,820 | 1,573 | 1,706 | 721 | 1,238 | 23,808 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 5,055 | 4,275 | 19 | — | — | — | — | 9,349 | ||||||||||||||||||
At December 31 | 1,136 | 3,938 | 24 | — | — | — | — | 5,099 |
Proved undeveloped reserves 2018 | Thousand million standard cubic feet | |||||||||||||||||||||||||
North America | South America | |||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Shell subsidiaries | ||||||||||||||||||||||||||
At January 1 | 122 | 362 | 2,952 | 589 | 917 | 413 | 276 | 5,631 | ||||||||||||||||||
At December 31 | 942 | 539 | 2,607 | 971 | 441 | 268 | 271 | 6,039 | ||||||||||||||||||
Shell share of joint ventures and associates | ||||||||||||||||||||||||||
At January 1 | 70 | 689 | — | — | — | — | — | 759 | ||||||||||||||||||
At December 31 | 27 | 643 | — | — | — | — | — | 670 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
219
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
2020 - Shell subsidiaries |
$ million
|
|||||||||||||||||||||||||
North America | South America | |||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada |
Total
|
||||||||||||||||||||
Future cash inflows | 16,581 | 75,128 | 25,970 | 19,743 | 27,891 | 22,447 | 34,502 | 222,262 | ||||||||||||||||||
Future production costs | 6,776 | 26,896 | 10,240 | 9,837 | 20,341 | 15,475 | 19,137 | 108,702 | ||||||||||||||||||
Future development costs | 4,352 | 12,416 | 7,441 | 3,354 | 7,274 | 4,559 | 7,440 | 46,836 | ||||||||||||||||||
Future tax expenses | 4,525 | 12,585 | 254 | 4,713 | 54 | 407 | 1,847 | 24,385 | ||||||||||||||||||
Future net cash flows | 928 | 23,231 | 8,035 | 1,839 | 222 | 2,006 | 6,078 | 42,339 | ||||||||||||||||||
Effect of discounting cash flows at 10% | 338 | 9,791 | 1,316 | -50 | -1,469 | 1,231 | 1,369 | 12,526 | ||||||||||||||||||
Standardised measure of discounted future net cash flows | 590 | 13,440 | 6,719 | 1,889 | 1,691 | 775 | 4,709 | 29,813 | ||||||||||||||||||
Non Controlling Interest Included | 0 | 0 | 0 | 0 | 0 | 398 | 0 | 398 |
|
|
|
|
|
|
|
|
|
||||||||||||||||||
2020 - Shell share of joint ventures and associates | $ million | |||||||||||||||||||||||||
North America | South America | |||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada |
Total
|
||||||||||||||||||||
Future cash inflows | 1,209 | 22,209 | 139 | 0 | 0 | 0 | 21 | 23,578 | ||||||||||||||||||
Future production costs | 2,801 | 11,472 | 136 | 0 | 0 | 0 | 17 | 14,426 | ||||||||||||||||||
Future development costs | 948 | 5,165 | 111 | 0 | 0 | 0 | 2 | 6,226 | ||||||||||||||||||
Future tax expenses | 0 | 3,026 | 0 | 0 | 0 | 0 | 0 | 3,026 | ||||||||||||||||||
Future net cash flows | (2,540) | 2,546 | (108) | 0 | 0 | 0 | 2 | (100) | ||||||||||||||||||
Effect of discounting cash flows at 10% | (583) | 412 | (35) | 0 | 0 | 0 | 0 | (206) | ||||||||||||||||||
Standardised measure of discounted future net cash flows | (1,957)[A] | 2,134 | (73)[A] | 0 | 0 | 0 | 2 | 106 |
2019 - Shell subsidiaries |
$ million
|
|||||||||||||||||||||||||
North America
|
South America
|
|||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Future cash inflows
|
33,762 | 111,802 | 71,775 | 31,046 | 55,800 | 31,522 | 64,957 | 400,664 | ||||||||||||||||||
Future production costs
|
11,818 | 32,581 | 21,589 | 12,158 | 30,139 | 16,651 | 32,362 | 157,298 | ||||||||||||||||||
Future development costs
|
6,047 | 13,449 | 10,103 | 4,081 | 11,137 | 4,603 | 13,219 | 62,639 | ||||||||||||||||||
Future tax expenses
|
9,285 | 25,938 | 7,016 | 10,542 | 2,397 | 2,313 | 5,429 | 62,920 | ||||||||||||||||||
Future net cash flows
|
6,612 | 39,834 | 33,067 | 4,265 | 12,127 | 7,955 | 13,947 | 117,807 | ||||||||||||||||||
Effect of discounting cash flows at 10%
|
1,917 | 17,851 | 13,328 | 377 | 1,815 | 5,571 | 4,094 | 44,953 | ||||||||||||||||||
Standardised measure of discounted future net cash flows
|
4,695 | 21,983 | 19,739 | 3,888 | 10,312 | 2,384 | 9,853 | 72,854 | ||||||||||||||||||
Non-controlling interest included
|
— | — | — | — | — | 1,371 | — | 1,371 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
220
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
2019 - Shell share of joint ventures and associates |
$ million
|
||||||||||||||||||||||||||||
|
North America | South America | |||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada |
Total
|
|||||||||||||||||||||||
Future cash inflows
|
3,615 | 38,099 | 122 | — | — | — | — | 41,836 | |||||||||||||||||||||
Future production costs
|
2,810 | 18,336 | 81 | — | — | — | — | 21,227 | |||||||||||||||||||||
Future development costs
|
935 | 6,946 | 36 | — | — | — | — | 7,917 | |||||||||||||||||||||
Future tax expenses
|
718 | 6,160 | 4 | — | — | — | — | 6,882 | |||||||||||||||||||||
Future net cash flows
|
(848) | 6,657 | 1 | — | — | — | — | 5,812 | |||||||||||||||||||||
Effect of discounting cash flows at 10%
|
(266) | 1,190 | (7) | — | — | — | — | 917 | |||||||||||||||||||||
Standardised measure of discounted future net cash flows | (582) | [A] | 5,467 | 8 | — | — | — | — | 4,893 |
2018 - Shell subsidiaries | South America |
$ million
|
||||||||||||||||||||||||
North America | ||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada |
Total
|
||||||||||||||||||||
Future cash inflows
|
50,392 | 122,037 | 72,355 | 36,080 | 68,546 | 34,719 | 74,417 | 458,545 | ||||||||||||||||||
Future production costs
|
18,400 | 32,773 | 22,219 | 13,237 | 32,533 | 17,378 | 42,301 | 178,842 | ||||||||||||||||||
Future development costs
|
8,649 | 12,301 | 11,598 | 4,672 | 11,486 | 4,674 | 6,991 | 60,370 | ||||||||||||||||||
Future tax expenses
|
12,603 | 30,994 | 5,899 | 12,805 | 1,948 | 3,257 | 7,764 | 75,271 | ||||||||||||||||||
Future net cash flows
|
10,739 | 45,969 | 32,639 | 5,366 | 22,578 | 9,411 | 17,360 | 144,062 | ||||||||||||||||||
Effect of discounting cash flows at 10%
|
3,024 | 20,957 | 12,130 | 572 | 5,039 | 6,446 | 6,048 | 54,217 | ||||||||||||||||||
Standardised measure of discounted future net cash flows
|
7,715 | 25,012 | 20,509 | 4,794 | 17,539 | 2,964 | 11,312 | 89,845 | ||||||||||||||||||
Non-controlling interest included
|
— | 1 | — | — | — | 1,638 | — | 1,639 |
2018 - Shell share of joint ventures and associates |
$ million
|
||||||||||||||||||||||||||||
North America | South America | ||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada |
Total
|
|||||||||||||||||||||||
Future cash inflows
|
5,260 | 44,327 | 104 | — | — | — | — | 49,691 | |||||||||||||||||||||
Future production costs
|
2,712 | 20,886 | 80 | — | — | — | — | 23,677 | |||||||||||||||||||||
Future development costs
|
1,083 | 6,726 | 36 | — | — | — | — | 7,844 | |||||||||||||||||||||
Future tax expenses
|
1,136 | 7,128 | 1 | — | — | — | — | 8,265 | |||||||||||||||||||||
Future net cash flows
|
329 | 9,588 | (13) | — | — | — | — | 9,904 | |||||||||||||||||||||
Effect of discounting cash flows at 10%
|
(76) | 2,759 | (8) | — | — | — | — | 2,675 | |||||||||||||||||||||
Standardised measure of discounted future net cash flows
|
405 | 6,829 | (5) | [A] | — | — | — | — | 7,229 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
221
|
|
|
|
|
||||||||
2020 | $ million | ||||||||||
Shell
subsidiaries
|
Shell share
of joint ventures
and associates
|
Total | |||||||||
At January 1 | 72,854 | 4,893 | 77,747 | ||||||||
Net changes in prices and production costs | (69,363) | (6,097) | (75,460) | ||||||||
Revisions of previous reserves estimates | 695 | 17 | 712 | ||||||||
Extensions, discoveries and improved recovery | (540) | 0 | (540) | ||||||||
Purchases and sales of minerals in place | 24 | (459) | (435) | ||||||||
Development cost related to future production | 2,906 | (426) | 2,480 | ||||||||
Sales and transfers of oil and gas, net of production costs | (16,904) | (1,954) | (18,858) | ||||||||
Development cost incurred during the year | 8,197 | 759 | 8,956 | ||||||||
Accretion of discount | 9,881 | 832 | 10,713 | ||||||||
Net change in income tax | 22,063 | 2,541 | 24,604 | ||||||||
At December 31 | 29,813 | 106 | 29,919 |
|
|
|
|
||||||||
2019 |
$ million
|
||||||||||
Shell
subsidiaries
|
Shell share
of joint ventures
and associates
|
Total
|
|||||||||
At January 1 | 89,845 | 7,229 | 97,074 | ||||||||
Net changes in prices and production costs | (18,759) | (1,017) | (19,776) | ||||||||
Revisions of previous reserves estimates | 13,777 | (293) | 13,484 | ||||||||
Extensions, discoveries and improved recovery | 5,193 | 93 | 5,286 | ||||||||
Purchases and sales of minerals in place | (2,831) | — | (2,831) | ||||||||
Development cost related to future production | (9,417) | (2) | (9,419) | ||||||||
Sales and transfers of oil and gas, net of production costs | (33,319) | (3,918) | (37,237) | ||||||||
Development cost incurred during the year | 10,430 | 702 | 11,132 | ||||||||
Accretion of discount | 12,004 | 1,133 | 13,137 | ||||||||
Net change in income tax | 5,931 | 966 | 6,897 | ||||||||
At December 31 | 72,854 | 4,893 | 77,747 |
2018 |
$ million
|
||||||||||
Shell
subsidiaries
|
Shell share
of joint ventures
and associates
|
Total
|
|||||||||
At January 1 | 50,524 | 7,109 | 57,633 | ||||||||
Net changes in prices and production costs | 58,128 | 6,156 | 64,284 | ||||||||
Revisions of previous reserves estimates | 15,265 | (1,447) | 13,818 | ||||||||
Extensions, discoveries and improved recovery | 8,936 | 532 | 9,468 | ||||||||
Purchases and sales of minerals in place | (3,401) | (20) | (3,421) | ||||||||
Development cost related to future production | (3,876) | (308) | (4,184) | ||||||||
Sales and transfers of oil and gas, net of production costs | (38,014) | (4,858) | (42,872) | ||||||||
Development cost incurred during the year | 10,724 | 666 | 11,390 | ||||||||
Accretion of discount | 7,060 | 994 | 8,054 | ||||||||
Net change in income tax | (15,501) | (1,595) | (17,096) | ||||||||
At December 31 | 89,845 | 7,229 | 97,074 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
222
|
|
|
|
|
||||||||
$ million
|
|||||||||||
2020 | 2019 | ||||||||||
Cost | |||||||||||
Proved properties [A]
|
276,762 | 265,700 | |||||||||
Unproved properties
|
14,563 | 18,669 | |||||||||
Support equipment and facilities
|
10,803 | 11,043 | |||||||||
302,128 | 295,412 | ||||||||||
Depreciation, depletion and amortisation | |||||||||||
Proved properties [A]
|
158,149 | 129,809 | |||||||||
Unproved properties
|
5,342 | 4,089 | |||||||||
Support equipment and facilities
|
5,031 | 4,078 | |||||||||
168,522 | 137,976 | ||||||||||
Net capitalised costs | 133,606 | 157,436 |
$ million
|
|||||||||||
2020 | 2019 | ||||||||||
Cost | |||||||||||
Proved properties [A]
|
50,592 | 46,895 | |||||||||
Unproved properties
|
2,512 | 2,428 | |||||||||
Support equipment and facilities
|
5,037 | 4,882 | |||||||||
58,141 | 54,205 | ||||||||||
Depreciation, depletion and amortisation | |||||||||||
Proved properties [A]
|
36,876 | 34,120 | |||||||||
Unproved properties
|
473[B]
|
— | |||||||||
Support equipment and facilities
|
3,070 | 2,817 | |||||||||
40,419 | 36,937 | ||||||||||
Net capitalised costs | 17,722 | 17,268 |
2020 |
$ million
|
||||||||||||||||||||||||||||
North America | South America | ||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] |
Total
|
|||||||||||||||||||||||
Acquisition of properties | |||||||||||||||||||||||||||||
Proved
|
4 | 156 | — | 5 | — | — | — | 165 | |||||||||||||||||||||
Unproved
|
115 | 19 | — | 48 | 80 | 6 | 180 | 448 | |||||||||||||||||||||
Exploration | 287 | 102 | 33 | 168 | 951 | 275 | 390 | 2,206 | [B] | ||||||||||||||||||||
Development | 1,612 | 1,018 | 1,465 | 807 | 4,186 | 325 | 1,930 | 11,343 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
223
|
2019 |
$ million
|
||||||||||||||||||||||||||||
North America | South America |
|
|||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] | Total | |||||||||||||||||||||||
Acquisition of properties | |||||||||||||||||||||||||||||
Proved
|
3 | 105 | — | 10 | — | — | — | 118 | |||||||||||||||||||||
Unproved
|
— | 11 | — | 67 | 118 | 5 | 3 | 204 | |||||||||||||||||||||
Exploration | 428 | 165 | 117 | 253 | 1,723 | 402 | 500 | 3,588 | [B] | ||||||||||||||||||||
Development | 2,054 | 1,434 | 1,225 | 1,480 | 4,455 | 287 | 2,418 | 13,353 |
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
2018 | $ million | ||||||||||||||||||||||||||||
North America | South America | ||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] | Total | |||||||||||||||||||||||
Acquisition of properties | |||||||||||||||||||||||||||||
Proved
|
3 | 3 | — | 596 | 44 | — | 646 | ||||||||||||||||||||||
Unproved
|
2 | 6 | — | 76 | 44 | 310 | 486 | 924 | |||||||||||||||||||||
Exploration | 384 | 182 | 49 | 188 | 1,912 | 251 | 502 | 3,468 | [B] | ||||||||||||||||||||
Development | 1,452 | 1,102 | 1,632 | 962 | 4,052 | 505 | 2,095 | 11,800 |
|
|
|
|
|
|
|
|
|
||||||||||||||||||
2020 |
$ million
|
|||||||||||||||||||||||||
North America
|
South America | |||||||||||||||||||||||||
Europe
|
Asia
|
Oceania
|
Africa
|
USA
|
Canada
|
Total
|
||||||||||||||||||||
Acquisition of properties | ||||||||||||||||||||||||||
Unproved | — | — | — | — | — | 128 | 128 | |||||||||||||||||||
Exploration | — | 94 | 10 | — | — | — | 105 | 209 | ||||||||||||||||||
Development | 124 | 2,173 | 67 | — | — | — | 2 | 2,366 |
2019 | $ million | |||||||||||||||||||||||||
North America | South America | |||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Exploration | 1 | 116 | 12 | — | — | — | — | 129 | ||||||||||||||||||
Development | 94 | 1,400 | 65 | — | — | — | — | 1,559 |
2018 | $ million | ||||||||||||||||||||||||||||
North America |
South
America |
||||||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | |||||||||||||||||||||||
Exploration | — | 90 | 14 | — | — | — | — | 104 | |||||||||||||||||||||
Development | 229 | 1,026 | 79 | — | — | — | — | 1,334 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
224
|
2020 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] | Total | ||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||
Third parties | 767 | 2,104 | 589 | 1,540 | 1,008 | 753 | 567 | 7,328 | ||||||||||||||||||
Sales between businesses | 2,879 | 6,360 | 1,951 | 1,816 | 5,239 | 943 | 4,656 | 23,844 | ||||||||||||||||||
Total | 3,646 | 8,464 | 2,540 | 3,356 | 6,247 | 1,696 | 5,223 | 31,172 | ||||||||||||||||||
Production costs excluding taxes | 2,023 | 1,811 | 1,040 | 1,064 | 2,615 | 735 | 936 | 10,224 | ||||||||||||||||||
Taxes other than income tax | 64 | 389 | 93 | 245 | 64 | — | 1,494 | 2,349 | ||||||||||||||||||
Exploration | 256 | 149 | 234 | 202 | 325 | 108 | 473 | 1,747 | ||||||||||||||||||
Depreciation, depletion and amortisation | 3,618 | 2,120 | 10,178 | 2,589 | 7,927 | 2,147 | 6,282 | 34,861 | ||||||||||||||||||
Other costs/(income) | 553 | 1,127 | (981) | 645 | 230 | 631 | 161 | 2,366 | ||||||||||||||||||
Earnings before taxation | (2,868) | 2,868 | (8,024) | (1,389) | (4,914) | (1,925) | (4,123) | (20,375) | ||||||||||||||||||
Taxation charge/(credit) | (423) | 1,854 | (3,175) | (104) | (790) | (449) | (300) | (3,387) | ||||||||||||||||||
Earnings after taxation | (2,445) | 1,014 | (4,849) | (1,285) | (4,124) | (1,476) | (3,823) | (16,988) |
2019 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] | Total | ||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||
Third parties | 1,257 | 3,065 | 931 | 1,936 | 2,638 | 632 | 844 | 11,303 | ||||||||||||||||||
Sales between businesses | 4,911 | 10,526 | 4,719 | 3,289 | 7,786 | 1,936 | 7,647 | 40,814 | ||||||||||||||||||
Total | 6,168 | 13,591 | 5,650 | 5,225 | 10,424 | 2,568 | 8,491 | 52,117 | ||||||||||||||||||
Production costs excluding taxes | 1,582 | 2,065 | 1,178 | 1,062 | 2,807 | 983 | 1,135 | 10,812 | ||||||||||||||||||
Taxes other than income tax | 94 | 749 | 136 | 370 | 103 | — | 2,613 | 4,065 | ||||||||||||||||||
Exploration | 619 | 583 | 107 | 187 | 411 | 159 | 288 | 2,354 | ||||||||||||||||||
Depreciation, depletion and amortisation | 2,604 | 2,130 | 1,957 | 1,354 | 6,932 | 858 | 3,929 | 19,764 | ||||||||||||||||||
Other costs/(income) | (20) | 1,599 | (105) | 121 | (575) | 818 | 1,379 | 3,217 | ||||||||||||||||||
Earnings before taxation | 1,289 | 6,465 | 2,377 | 2,131 | 746 | (250) | (853) | 11,905 | ||||||||||||||||||
Taxation charge/(credit) | 848 | 4,013 | 1,094 | 1,431 | 154 | (110) | (78) | 7,352 | ||||||||||||||||||
Earnings after taxation | 441 | 2,452 | 1,283 | 700 | 592 | (140) | (775) | 4,553 |
2018 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Other [A] | Total | ||||||||||||||||||||
Revenue | ||||||||||||||||||||||||||
Third parties | 1,875 | 3,364 | 1,389 | 2,401 | 2,165 | 507 | 1,023 | 12,724 | ||||||||||||||||||
Sales between businesses | 6,705 | 11,284 | 4,683 | 3,586 | 7,716 | 1,946 | 7,154 | 43,074 | ||||||||||||||||||
Total | 8,580 | 14,648 | 6,072 | 5,987 | 9,881 | 2,453 | 8,177 | 55,798 | ||||||||||||||||||
Production costs excluding taxes | 2,262 | 2,143 | 1,073 | 1,093 | 2,573 | 1,069 | 1,401 | 11,614 | ||||||||||||||||||
Taxes other than income tax | 122 | 841 | 199 | 328 | 83 | — | 2,767 | 4,340 | ||||||||||||||||||
Exploration | 277 | 149 | 78 | 144 | 341 | 114 | 237 | 1,340 | ||||||||||||||||||
Depreciation, depletion and amortisation | 2,684 | 2,301 | 1,571 | 1,394 | 4,543 | (346) | 3,271 | 15,418 | ||||||||||||||||||
Other costs/(income) | 947 | (180) | (514) | 609 | 447 | 667 | 849 | 2,825 | ||||||||||||||||||
Earnings before taxation | 2,288 | 9,394 | 3,665 | 2,419 | 1,894 | 949 | (348) | 20,261 | ||||||||||||||||||
Taxation charge/(credit) | 2,047 | 4,851 | 893 | 902 | 550 | 236 | 1,162 | 10,641 | ||||||||||||||||||
Earnings after taxation | 241 | 4,543 | 2,772 | 1,517 | 1,344 | 713 | (1,510) | 9,620 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
225
|
2020 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Third-party revenue | 514 | 3,464 | 65 | — | — | — | 32 | 4,075 | ||||||||||||||||||
Total | 514 | 3,464 | 65 | — | — | — | 32 | 4,075 | ||||||||||||||||||
Production costs excluding taxes | 272 | 726 | 72 | — | — | — | 8 | 1,078 | ||||||||||||||||||
Taxes other than income tax | 22 | 423 | 5 | — | — | — | 4 | 454 | ||||||||||||||||||
Exploration | 2 | 97 | — | — | — | — | — | 99 | ||||||||||||||||||
Depreciation, depletion and amortisation | 366 | 1,219 | 270 | — | (7) | — | 23 | 1,871 | ||||||||||||||||||
Other costs/(income) | 296 | 365 | (14) | — | (1) | — | 12 | 658 | ||||||||||||||||||
Earnings before taxation | (444) | 634 | (268) | — | 8 | — | (15) | (85) | ||||||||||||||||||
Taxation charge | (281) | 162 | — | — | 2 | — | (9) | (126) | ||||||||||||||||||
Earnings after taxation | (163) | 472 | (268) | — | 6 | — | (6) | 41 |
2019 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Third-party revenue | 1,233 | 5,475 | 81 | — | — | — | — | 6,789 | ||||||||||||||||||
Total | 1,233 | 5,475 | 81 | — | — | — | — | 6,789 | ||||||||||||||||||
Production costs excluding taxes | 249 | 669 | 88 | — | — | — | — | 1,006 | ||||||||||||||||||
Taxes other than income tax | 75 | 1,037 | 6 | — | — | — | — | 1,118 | ||||||||||||||||||
Exploration | 4 | 51 | — | — | — | — | — | 55 | ||||||||||||||||||
Depreciation, depletion and amortisation | 217 | 949 | 415 | — | — | — | — | 1,581 | ||||||||||||||||||
Other costs/(income) | 547 | 622 | (18) | — | 1 | 1 | — | 1,153 | ||||||||||||||||||
Earnings before taxation | 141 | 2,147 | (410) | — | (1) | (1) | — | 1,876 | ||||||||||||||||||
Taxation charge | 39 | 957 | — | — | — | — | — | 996 | ||||||||||||||||||
Earnings after taxation | 102 | 1,190 | (410) | — | (1) | (1) | — | 880 |
2018 | $ million | |||||||||||||||||||||||||
North America |
South
America |
|||||||||||||||||||||||||
Europe | Asia | Oceania | Africa | USA | Canada | Total | ||||||||||||||||||||
Third-party revenue | 1,395 | 5,884 | 79 | — | — | — | — | 7,358 | ||||||||||||||||||
Total | 1,395 | 5,884 | 79 | — | — | — | — | 7,358 | ||||||||||||||||||
Production costs excluding taxes | 307 | 674 | 105 | — | — | — | — | 1,086 | ||||||||||||||||||
Taxes other than income tax | 82 | 1,259 | 4 | — | — | — | — | 1,345 | ||||||||||||||||||
Exploration | 5 | 45 | — | — | — | — | — | 50 | ||||||||||||||||||
Depreciation, depletion and amortisation | 318 | 1,016 | 163 | — | — | — | — | 1,497 | ||||||||||||||||||
Other costs/(income) | 595 | 615 | (26) | — | — | — | — | 1,184 | ||||||||||||||||||
Earnings before taxation | 88 | 2,275 | (167) | — | — | — | — | 2,196 | ||||||||||||||||||
Taxation charge | 7 | 975 | — | — | — | — | — | 982 | ||||||||||||||||||
Earnings after taxation | 81 | 1,300 | (167) | — | — | — | — | 1,214 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
226
|
Thousand acres | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Developed | Undeveloped | Developed | Undeveloped | Developed | Undeveloped | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Net | Gross | Net | Gross | Net | Gross | Net | Gross | Net | Gross | Net | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Europe [A] | 6,075 | 1,900 | 13,399 | 5,663 | 6,278 | [B] | 1,910 | [B] | 13,844 | [C] | 6,077 | [C] | 6,022 | 1,954 | 13,732 | [D] | 6,322 | [D] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Asia | 21,360 | 7,651 | 34,545 | 18,003 | 21,387 | 7,672 | 31,486 | 14,880 | 22,087 | 7,885 | 31,676 | 15,433 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oceania | 3,151 | 1,275 | 9,156 | 4,974 | 3,025 | 1,215 | 11,720 | 6,260 | 3,202 | 1,220 | 15,319 | 10,095 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Africa | 4,764 | 1,996 | 69,194 | 37,743 | 4,663 | 1,938 | 62,965 | 32,564 | 4,666 | 1,940 | 38,874 | 22,732 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North America - USA | 1,145 | 728 | 1,916 | 1,408 | 1,346 | [E] | 906 | [E] | 2,483 | [F] | 1,911 | [F] | 1,548 | [G] | 977 | [G] | 2,133 | 1,638 | [H] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
North America - Mexico | — | — | 5,178 | 3,291 | - | - | 5,178 | 3,291 | - | - | 5,178 | 3,885 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
North America - Canada | 490 | 336 | 1,689 | 1,177 | 483 | 329 | 1,783 | 1,265 | 1,108 | 752 | 1,681 | 1,193 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
South America | 1,449 | 609 | 20,147 | 11,731 | 1,393 | 595 | 16,446 | 10,214 | 1,490 | 710 | 10,352 | 6,725 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 38,434 | 14,495 | 155,224 | 83,990 | 38,575 | 14,565 | 145,905 | 76,462 | 40,123 | 15,438 | 118,945 | 68,023 |
2020 | 2019 | 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Oil | Gas | Oil | Gas | Oil | Gas | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Net | Gross | Net | Gross | Net | Gross | Net | Gross | Net | Gross | Net | |||||||||||||||||||||||||||||||||||||||||||||||||||
Europe | 814 | 197 | 1,055 | 336 | 894 | [B] | 217 | 1,095 | [C] | 345 | 1,077 | 277 | 1,205 | [D] | 379 | |||||||||||||||||||||||||||||||||||||||||||||||
Asia | 8,505 | 3,105 | 342 | 193 | 7,860 | [E] | 2,874 | [E] | 336 | 193 | 7,449 | [F] | 2,728 | 331 | 189 | |||||||||||||||||||||||||||||||||||||||||||||||
Oceania | — | — | 3,394 | 1,927 | — | — | 3,348 | [G] | 1,891 | [G] | — | — | 3,411 | 1,924 | ||||||||||||||||||||||||||||||||||||||||||||||||
Africa | 567 | 235 | 209 | 141 | 514 | 206 | 202 | 139 | 478 | 189 | 195 | 132 | ||||||||||||||||||||||||||||||||||||||||||||||||||
North America – USA | 14,505 | 7,402 | 401 | 223 | 14,953 | [H] | 7,650 | [H] | 824 | [I] | 518 | [I] | 15,238 | [J] | 7,755 | [J] | 1,481 | [K] | 674 | [K] | ||||||||||||||||||||||||||||||||||||||||||
North America – Canada | — | — | 757 | 684 | — | — | 748 | 676 | 1 | 1 | 936 | 846 | ||||||||||||||||||||||||||||||||||||||||||||||||||
South America | 179 | 82 | 63 | 37 | 137 | 63 | 58 | 36 | 117 | 52 | 63 | 41 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total | 24,570 | 11,021 | 6,221 | 3,541 | 24,358 | 11,010 | 6,611 | 3,798 | 24,360 | 11,002 | 7,622 | 4,185 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
227
|
2020 | 2019 | 2018 | |||||||||||||||||||||||||||||||||
Productive | Dry | Productive | Dry | Productive | Dry | ||||||||||||||||||||||||||||||
Exploratory [A] | |||||||||||||||||||||||||||||||||||
Europe | 0 | 1 | 0 | 4 | 1 | 2 | |||||||||||||||||||||||||||||
Asia | 10 | 8 | 25 | 17 | 22 | 11 | |||||||||||||||||||||||||||||
Oceania | 0 | 6 | [B] | 0 | 2 | 0 | 0 | ||||||||||||||||||||||||||||
Africa | 5 | 7 | 8 | 8 | 6 | 6 | |||||||||||||||||||||||||||||
North America - USA | 57 | 81 | [C] | 89 | 9 | 104 | 4 | ||||||||||||||||||||||||||||
North America - Canada | 17 | 1 | 24 | 0 | 14 | 0 | |||||||||||||||||||||||||||||
South America | 5 | 3 | 8 | 1 | 6 | 7 | |||||||||||||||||||||||||||||
Total | 94 | 107 | 154 | 41 | 153 | 30 | |||||||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||||||||||
Europe | 6 | 0 | 4 | 1 | 4 | 0 | |||||||||||||||||||||||||||||
Asia | 169 | 0 | 182 | 0 | 198 | 0 | |||||||||||||||||||||||||||||
Oceania | 22 | 0 | 16 | 0 | 54 | 0 | |||||||||||||||||||||||||||||
Africa | 19 | 0 | 34 | 0 | 24 | 1 | |||||||||||||||||||||||||||||
North America - USA | 110 | 0 | 280 | 5 | 276 | 0 | |||||||||||||||||||||||||||||
North America - Canada | 0 | 0 | 6 | 0 | 53 | 0 | |||||||||||||||||||||||||||||
South America | 14 | 0 | 10 | 1 | 5 | 0 | |||||||||||||||||||||||||||||
Total | 340 | 0 | 532 | 7 | 614 | 1 |
At January 1 | Wells in the process of drilling at January 1 and allocated proved reserves during the year | Wells in the process of drilling at January 1 and determined as dry during the year | New wells in the process of drilling at December 31 | At December 31 | ||||||||||||||||||||||||||||||||||
Gross | Net | Gross | Net | Gross | Net | Gross | Net | Gross | Net | |||||||||||||||||||||||||||||
Europe | 15 | 8 | 0 | 0 | (3) | (1) | 0 | 0 | 12 | 7 | ||||||||||||||||||||||||||||
Asia | 53 | 20 | (7) | (3) | (7) | (2) | 18 | 7 | 57 | 22 | ||||||||||||||||||||||||||||
Oceania | 44 | [B] | 17 | [B] | (1) | 0 | (11) | (6) | 0 | 0 | 32 | 11 | ||||||||||||||||||||||||||
Africa | 36 | [C] | 24 | [C] | (1) | (1) | (7) | (4) | 0 | 0 | 28 | 19 | ||||||||||||||||||||||||||
North America - USA | 219 | [D] | 132 | [D] | (101) | (38) | (90) | (79) | 64 | 28 | 92 | 43 | ||||||||||||||||||||||||||
North America - Canada | 21 | 21 | (16) | (16) | 0 | 0 | 10 | 10 | 15 | 15 | ||||||||||||||||||||||||||||
South America | 33 | 15 | [E] | (7) | (3) | (5) | (3) | 14 | 4 | 35 | 13 | |||||||||||||||||||||||||||
Total | 421 | 237 | (133) | (61) | (123) | (95) | 106 | 49 | 271 | 130 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
228
|
2020 | |||||||||||||||||||||||
At January 1 | At December 31 | ||||||||||||||||||||||
Gross | Net | Gross | Net | ||||||||||||||||||||
Europe | 9 | [A] | 3 | 7 | 2 | ||||||||||||||||||
Asia | 53 | 21 | 41 | 24 | |||||||||||||||||||
Oceania | 122 | [B] | 71 | 191 | 124 | ||||||||||||||||||
Africa | 5 | 2 | 4 | 1 | |||||||||||||||||||
North America - USA | 41 | 34 | 30 | 20 | |||||||||||||||||||
North America - Canada | — | — | — | — | |||||||||||||||||||
South America | 12 | 8 | 30 | 21 | |||||||||||||||||||
Total | 242 | 139 | 303 | 192 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
229
|
Report of Independent Registered Public Accounting Firm | |||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
230
|
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
231
|
ROYAL DUTCH SHELL DIVIDEND ACCESS TRUST FINANCIAL STATEMENTS
|
|||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
232
|
STATEMENT OF INCOME
|
£ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Dividend income | 2,777 | 5,484 | 5,328 | ||||||||
Income before taxation and for the period | 2,777 | 5,484 | 5,328 |
STATEMENT OF COMPREHENSIVE INCOME
|
£ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Income for the period | 2,777 | 5,484 | 5,328 | ||||||||
Comprehensive income for the period | 2,777 | 5,484 | 5,328 |
BALANCE SHEET
|
£ million | ||||||||||
Notes | Dec 31, 2020 | Dec 31, 2019 | |||||||||
Assets | |||||||||||
Other current assets | 7 | — | |||||||||
Cash and cash equivalents | — | 3 | |||||||||
Total assets | 7 | 3 | |||||||||
Liabilities | |||||||||||
Unclaimed dividends | 4 | 7 | 3 | ||||||||
Total liabilities | 7 | 3 | |||||||||
Equity | |||||||||||
Capital account | 5 | — | — | ||||||||
Revenue account | — | — | |||||||||
Total equity | — | — | |||||||||
Total liabilities and equity | 7 | 3 |
Signed on behalf of Computershare Trustees (Jersey) Limited
as Trustee of the Royal Dutch Shell Dividend Access Trust
|
||||||||
/s/John Le Marquand | /s/ Martin Fish | |||||||
John Le Marquand | Martin Fish | |||||||
March 10, 2021 |
STATEMENT OF CHANGES IN EQUITY
|
£ million | |||||||||||||
Notes |
Capital
account |
Revenue
account |
Total
equity |
|||||||||||
At January 1, 2020 | — | — | — | |||||||||||
Comprehensive income for the period | — | 2,777 | 2,777 | |||||||||||
Distributions made | 6 | — | (2,777) | (2,777) | ||||||||||
At December 31, 2020 | — | — | — | |||||||||||
At January 1, 2019 | — | — | — | |||||||||||
Comprehensive income for the period | — | 5,484 | 5,484 | |||||||||||
Distributions made | 6 | — | (5,484) | (5,484) | ||||||||||
At December 31, 2019 | — | — | — | |||||||||||
At January 1, 2018 | — | — | — | |||||||||||
Comprehensive income for the period | — | 5,328 | 5,328 | |||||||||||
Distributions made | 6 | — | (5,328) | (5,328) | ||||||||||
At December 31, 2018 | — | — | — |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
233
|
STATEMENT OF CASH FLOWS
|
£ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Income for the period | 2,777 | 5,484 | 5,328 | ||||||||
Adjustment for: | |||||||||||
Dividends received | (2,777) | (5,484) | (5,328) | ||||||||
Cash flow from operating activities | — | — | — | ||||||||
Dividends received | 2,772 | 5,484 | 5,328 | ||||||||
Cash flow from investing activities | 2,772 | 5,484 | 5,328 | ||||||||
Cash distributions made | (2,775) | (5,484) | (5,327) | ||||||||
Cash flow from financing activities | (2,775) | (5,484) | (5,327) | ||||||||
Change in cash and cash equivalents | (3) | — | 1 | ||||||||
Cash and cash equivalents at January 1 | 3 | 3 | 2 | ||||||||
Cash and cash equivalents at December 31 | — | 3 | 3 |
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
234
|
NOTES TO THE ROYAL DUTCH SHELL DIVIDEND ACCESS TRUST FINANCIAL STATEMENTS | ||||||||||||||
FINANCIAL STATEMENTS AND SUPPLEMENTS SHELL ANNUAL REPORT AND FORM 20-F 2020 |
235
|
SHAREHOLDER INFORMATION
|
|||||
Listing information
|
||||||||
A shares | B shares | |||||||
Ticker symbol London | RDSA | RDSB | ||||||
Ticker symbol Amsterdam | RDSA | RDSB | ||||||
Ticker symbol New York (ADS [A]) | RDS.A | RDS.B | ||||||
ISIN for shares | GB00B03MLX29 | GB00B03MM408 | ||||||
ISIN for ADS | US7802592060 | US7802591070 | ||||||
CUSIP | G7690A100 | G7690A118 | ||||||
SEDOL Number Amsterdam | B09CBL4 | B09CBN6 | ||||||
SEDOL Number London | B03MLX2 | B03MM40 | ||||||
SEDOL Number New York | B03MM62 | B03MM73 | ||||||
Weighting on FTSE 100 at 31/12/20 | 3.09 | % | 2.71 | % | ||||
Weighting on AEX at 31/12/20 | 10.58 | % | not included |
Issued and fully paid | ||||||||
Number | Nominal value | |||||||
Ordinary shares of €0.07 each | ||||||||
A shares | 4,101,239,499 | €287,086,765 | ||||||
B shares | 3,706,183,836 | €259,432,869 | ||||||
Sterling deferred shares of £1 each | 50,000 | £50,000 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
236
|
A shares | B shares | Total | ||||||||||||||||||||||||
Number | % | Number | % | Number | % | |||||||||||||||||||||
BlackRock Inc. [A] | 308,886,474 | 7.50 | 284,692,962 | 7.70 | 593,579,436 | 7.60 | ||||||||||||||||||||
The Capital Group Companies, Inc.
|
42,482,002 | 1.04 | 349,161,475 | 9.42 | 391,643,477 | 5.00 | ||||||||||||||||||||
Norges Bank (The Central Bank of Norway) [B]
|
— | — | 239,413,729 | 6.50 | 239,413,729 | 3.10 |
A and B shares
|
$ | ||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Q1 | 0.16 | 0.47 | 0.47 | 0.47 | 0.47 | ||||||||||||
Q2 | 0.16 | 0.47 | 0.47 | 0.47 | 0.47 | ||||||||||||
Q3 | 0.17 | 0.47 | 0.47 | 0.47 | 0.47 | ||||||||||||
Q4 | 0.17 | 0.47 | 0.47 | 0.47 | 0.47 | ||||||||||||
Total announced in respect of the year | 0.65 | 1.88 | 1.88 | 1.88 | 1.88 |
A shares
|
€ [A] | ||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Q1 | 0.14 | 0.42 | 0.40 | 0.42 | 0.42 | ||||||||||||
Q2 | 0.14 | 0.43 | 0.40 | 0.39 | 0.42 | ||||||||||||
Q3 | 0.14 | 0.42 | 0.41 | 0.40 | 0.44 | ||||||||||||
Q4 [B] | TBA | 0.42 | 0.42 | 0.38 | 0.44 | ||||||||||||
Total announced in respect of the year [B] | TBA | 1.68 | 1.64 | 1.59 | 1.72 | ||||||||||||
Amount paid during the year | 0.84 | 1.68 | 1.60 | 1.65 | 1.70 |
B shares
|
Pence [A] | ||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Q1 | 12.68 | 36.97 | 35.18 | 37.12 | 32.98 | ||||||||||||
Q2 | 12.09 | 38.01 | 36.50 | 36.28 | 35.27 | ||||||||||||
Q3 | 12.48 | 35.73 | 36.77 | 35.02 | 37.16 | ||||||||||||
Q4 [B] | TBA | 36.40 | 35.94 | 33.91 | 38.64 | ||||||||||||
Total announced in respect of the year [B] | TBA | 147.11 | 144.39 | 142.33 | 144.05 | ||||||||||||
Amount paid during the year | 73.65 | 146.65 | 142.36 | 147.06 | 138.19 |
A and B ADSs
|
$ | ||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||
Q1 | 0.32 | 0.94 | 0.94 | 0.94 | 0.94 | ||||||||||||
Q2 | 0.32 | 0.94 | 0.94 | 0.94 | 0.94 | ||||||||||||
Q3 | 0.33 | 0.94 | 0.94 | 0.94 | 0.94 | ||||||||||||
Q4 | 0.33 | 0.94 | 0.94 | 0.94 | 0.94 | ||||||||||||
Total announced in respect of the year | 1.31 | 3.76 | 3.76 | 3.76 | 3.76 | ||||||||||||
Amount paid during the year | 1.91 | 3.76 | 3.76 | 3.76 | 3.76 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
237
|
Persons depositing or withdrawing shares must pay: | For: | ||||
$5.00 or less per 100 ADSs (or portion of 100 ADSs) |
Issuance of ADSs, including those resulting from a distribution of shares, rights or other property;
Cancellation of ADSs for the purpose of their withdrawal, including if the deposit agreement terminates; and Distribution of securities to holders of deposited securities by the Depositary to ADS registered holders. |
||||
Registration and transfer fees | Registration and transfer of shares on the share register to or from the name of the Depositary or its agent when they deposit or withdraw shares. | ||||
Expenses of the Depositary |
Cable, telex and facsimile transmissions (when expressly provided in the deposit agreement); and
Converting foreign currency into dollars.
|
||||
Taxes and other governmental charges the Depositary or the custodian has to pay on any ADS or share underlying an ADS, for example, share transfer taxes, stamp duty or withholding taxes | As necessary. |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
238
|
£ | ||||||||
March 31, 1982 | July 20, 2005 | |||||||
Royal Dutch Petroleum Company (N.V. Koninklijke Nederlandsche Petroleum Maatschappij) which ceased to exist on December 21, 2005
|
1.1349 | 17.6625 | ||||||
The “Shell” Transport and Trading Company, p.l.c. which delisted on July 19, 2005
|
1.4502 | Not applicable |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
239
|
SECTION 13(r) OF THE US SECURITIES EXCHANGE ACT OF 1934 DISCLOSURE | |||||
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
240
|
NON-GAAP MEASURES RECONCILIATION | |||||
Reconciliation of income for the period to CCS earnings
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Income/(loss) attributable to Royal Dutch Shell plc shareholders | (21,680) | 15,842 | 23,352 | ||||||||
Income/(loss) attributable to non-controlling interest | 146 | 590 | 554 | ||||||||
Income/(loss) for the period
|
(21,534) | 16,432 | 23,906 | ||||||||
Current cost of supplies adjustment | 1,833 | (605) | 458 | ||||||||
Of which: | |||||||||||
Attributable to Royal Dutch Shell plc shareholders | 1,759 | (572) | 481 | ||||||||
Attributable to non-controlling interest | 74 | (33) | (23) | ||||||||
CCS earnings | (19,701) | 15,827 | 24,364 | ||||||||
Of which: | |||||||||||
Attributable to Royal Dutch Shell plc shareholders | (19,921) | 15,270 | 23,833 | ||||||||
Attributable to non-controlling interest | 220 | 557 | 531 |
Adjusted Earnings
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Income/(loss) attributable to Royal Dutch Shell shareholders | (21,680) | 15,842 | 23,352 | ||||||||
Add: Current cost of supplies adjustment attributable to Royal Dutch Shell plc shareholders | 1,759 | (572) | 481 | ||||||||
Less: Identified items attributable to Royal Dutch Shell plc shareholders | (24,767) | (1,192) | 2,429 | ||||||||
Adjusted Earnings | 4,846 | 16,462 | 21,404 | ||||||||
Of which: | |||||||||||
Integrated Gas | 4,383 | 8,955 | 9,399 | ||||||||
Upstream | (2,852) | 4,452 | 6,472 | ||||||||
Oil Products | 5,995 | 6,231 | 5,794 | ||||||||
Chemicals | 962 | 741 | 2,076 | ||||||||
Corporate | (3,412) | (3,383) | (1,806) | ||||||||
less: Non-controlling interest | (230) | (535) | (531) |
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Adjusted Earnings | 4,846 | 16,462 | 21,404 | ||||||||
Basic weighted average number of shares | 7,795.6 | 8,058.3 | 8,282.8 | ||||||||
Adjusted EPS | 0.62 | 2.04 | 2.58 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
241
|
$ million | |||||||||||
2020 | 2019 | 2018 | |||||||||
Identified items before tax | (31,877) | (1,844) | 3,089 | ||||||||
Of which: | |||||||||||
Divestment gains/(losses) | 316 | 2,611 | 3,283 | ||||||||
Impairments | (28,061) | (4,155) | (1,020) | ||||||||
Fair value accounting of commodity derivatives and certain gas contracts | (1,151) | 602 | 1,145 | ||||||||
Redundancy and restructuring | (883) | (132) | (203) | ||||||||
Other | (2,098) | (770) | (116) | ||||||||
Total identified items before tax | (31,877) | (1,844) | 3,089 | ||||||||
Tax impact | 7,100 | 674 | (660) | ||||||||
Identified items after tax | (24,777) | (1,170) | 2,429 | ||||||||
Of which: | |||||||||||
Divestment gains/(losses) | 4 | 2,170 | 3,064 | ||||||||
Impairments | (21,267) | (3,162) | (1,112) | ||||||||
Fair value accounting of commodity derivatives and certain gas contracts | (1,034) | 650 | 863 | ||||||||
Redundancy and restructuring | (644) | (89) | (150) | ||||||||
Impact of exchange rate movements on tax balances | (240) | (69) | (338) | ||||||||
Other | (1,596) | (670) | 102 | ||||||||
Impact on CCS earnings | (24,777) | (1,170) | 2,429 | ||||||||
Of which: | |||||||||||
Identified items attributable to Royal Dutch Shell plc shareholders | (24,767) | (1,192) | 2,429 | ||||||||
Identified items attributable to Non-controlling interest | (10) | 22 | 0 |
Cash capital expenditure
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Capital expenditure [A] | 16,585 | 22,971 | 23,011 | ||||||||
Investments in joint ventures and associates [A] | 1,024 | 743 | 880 | ||||||||
Investments in equity securities [A] | 218 | 205 | 187 | ||||||||
Cash capital expenditure | 17,827 | 23,919 | 24,078 | ||||||||
Of which: | |||||||||||
Integrated Gas | 4,301 | 4,299 | 3,819 | ||||||||
Upstream | 7,296 | 10,205 | 12,134 | ||||||||
Oil Products | 3,328 | 4,907 | 4,643 | ||||||||
Chemicals | 2,640 | 4,090 | 3,212 | ||||||||
Corporate | 262 | 418 | 269 |
Operating expenses
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Production and manufacturing expenses
|
24,001 | 26,438 | 26,970 | ||||||||
Selling, distribution and administrative expenses
|
9,881 | 10,493 | 11,360 | ||||||||
Research and development | 907 | 962 | 986 | ||||||||
Total | 34,789 | 37,893 | 39,316 | ||||||||
Of which | |||||||||||
Integrated Gas
|
6,555 | 6,667 | 6,014 | ||||||||
Upstream
|
10,983 | 11,582 | 11,690 | ||||||||
Oil Products
|
13,511 | 15,730 | 17,615 | ||||||||
Chemicals
|
3,235 | 3,430 | 3,594 | ||||||||
Corporate
|
505 | 486 | 402 |
Calculation of return on average capital employed
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Income for the period | (21,534) | 16,432 | 23,906 | ||||||||
Interest expense after tax | 2,822 | 3,024 | 2,513 | ||||||||
Income before interest expense | (18,712) | 19,456 | 26,419 | ||||||||
Capital employed - opening | 286,887 | 295,398 | 283,477 | ||||||||
Capital employed - closing | 266,551 | 286,887 | 279,358 | ||||||||
Capital employed - average | 276,719 | 291,142 | 281,417 | ||||||||
ROACE | (6.8) | % | 6.7 | % | 9.4 | % |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
242
|
Free cash flow and Organic free cash flow
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Cash flow from operating activities | 34,105 | 42,178 | 53,085 | ||||||||
Cash flow from investing activities | (13,278) | (15,779) | (13,659) | ||||||||
Free cash flow | 20,828 | 26,399 | 39,426 | ||||||||
Less: Cash inflows related to divestments [A]
|
4,010 | 7,871 | 10,465 | ||||||||
Add: Tax paid on divestments | — | 187 | 482 | ||||||||
Add: Cash outflows related to inorganic capital expenditure [B]
|
817 | 1,400 | 1,740 | ||||||||
Organic free cash flow | 17,634 | 20,116 | 31,183 |
Calculation of shareholder distribution
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Cash dividends paid to Royal Dutch Shell plc shareholders | (7,424) | (15,198) | (15,675) | ||||||||
Repurchases of shares | (1,702) | (10,188) | (3,947) | ||||||||
Shareholder distribution | (9,126) | (25,386) | (19,622) |
Calculation of Divestment proceeds
|
$ million | ||||||||||
2020 | 2019 | 2018 | |||||||||
Proceeds from sale of property, plant and equipment and businesses | 2,489 | 4,803 | 4,366 | ||||||||
Proceeds from sale of joint ventures and associates [A] | 1,240 | 2,599 | 1,594 | ||||||||
Proceeds from sale of equity securities | 281 | 469 | 4,505 | ||||||||
Divestment proceeds | 4,010 | 7,871 | 10,465 | ||||||||
Of which: | |||||||||||
Integrated Gas | 503 | 723 | 3156 | ||||||||
Upstream | 1909 | 5384 | 3364 | ||||||||
Oil Products | 1368 | 1517 | 540 | ||||||||
Chemicals | 26 | 22 | 1 | ||||||||
Corporate | 205 | 225 | 3,405 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
243
|
INDEX TO EXHIBITS | |||||
Exhibit No. | Description | ||||||||||
1.1 | |||||||||||
1.2 | |||||||||||
2.1 | |||||||||||
2.2 | |||||||||||
2.3 | |||||||||||
4.1 | |||||||||||
4.2 | |||||||||||
4.3 | |||||||||||
4.4 | |||||||||||
7.1 | Calculation of Return on Average Capital Employed (ROACE) (incorporated by reference to page 241 herein). | ||||||||||
7.2 | Calculation of gearing (incorporated by reference to page 26 and Note 14 to the Consolidated Financial Statements on page 188 herein). | ||||||||||
8.1 | |||||||||||
12.1 | |||||||||||
12.2 | |||||||||||
13.1 | |||||||||||
99.1 | |||||||||||
99.2 | |||||||||||
101 | Interactive data files. |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
244
|
SIGNATURES | |||||
/s/ Ben van Beurden | |||||
Ben van Beurden | |||||
Chief Executive Officer | |||||
March 10, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
245
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
246
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
247
|
2020 Fourth quarter [A] | 2021 First quarter [B] | 2021 Second quarter [B] | 2021 Third quarter [B] | |||||||||||
Results announcements | February 4 | April 29 | July 29 | October 28 | ||||||||||
Interim dividend timetable | ||||||||||||||
Announcement date | February 4 [C] | April 29 | July 29 | October 28 | ||||||||||
Ex-dividend date [D] | February 18 | May 13 | August 12 | November 11 | ||||||||||
Record date | February 19 | May 14 | August 13 | November 12 | ||||||||||
Closing of currency election date [E] | March 5 | May 28 | August 27 | November 26 | ||||||||||
Pounds sterling and euro equivalents announcement date | March 15 | June 7 | September 6 | December 6 | ||||||||||
Payment date | March 29 | June 21 | September 20 | December 20 |
REGISTERED OFFICE
Royal Dutch Shell plc Shell Centre London SE1 7NA United Kingdom Registered in England and Wales Company number 4366849 Registered with the Dutch Trade Register under number 34179503 HEADQUARTERS Royal Dutch Shell plc Carel van Bylandtlaan 30 2596 HR The Hague The Netherlands |
SHAREHOLDER RELATIONS
Royal Dutch Shell plc Carel van Bylandtlaan 30 2596 HR The Hague The Netherlands +31 (0)70 377 1272 or Royal Dutch Shell plc Shell Centre London SE1 7NA United Kingdom +44 (0)20 7934 3363 royaldutchshell.shareholders@shell.com www.shell.com/shareholder |
INVESTOR RELATIONS
Royal Dutch Shell plc PO Box 162 2501 AN The Hague The Netherlands +31 (0)70 377 4540 or Shell Oil Company Investor Relations 150 N Dairy Ashford Houston, TX 77079 USA +1 832 337 2034 ir-europe@shell.com ir-usa@shell.com www.shell.com/investor |
||||||||||||
SHARE REGISTRATION
Equiniti Aspect House Spencer Road Lancing West Sussex BN99 6DA United Kingdom 0800 169 1679 (UK) +44 (0)121 415 7073 For online information about your holding and to change the way you receive your company documents: www.shareview.co.uk |
AMERICAN DEPOSITARY
SHARES (ADSS) JPMorgan Chase Bank, N.A. P.O. Box 64504 St. Paul, MN 55164-0504 USA Overnight correspondence to: JPMorgan Chase Bank, N.A. 1110 Centre Pointe Curve, Suite 101 Mendota Heights, MN 55120-4100 USA +1 888 737 2377 (USA only) +1 651 453 2128 (International) jpmorgan.adr@eq-us.com www.adr.com/shareholder |
REPORT ORDERING
www.shell.com/order Annual Report/20-F service for US residents +1 888 301 0504 |
Exhibit 2.3 | |||||
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
1
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
2
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
3
|
(i) | The term “Share Dispute” is defined as any action, dispute, controversy, claim or cause of action (a) between the Company and Holders and/or owners of interests in ADSs or (b) between and directly involving as named parties each of the Company, the Depositary and one or more Holders and/or owners of interests in ADSs, in each case arising out of, or relating to, this Deposit Agreement, the ADSs or the ADRs or the transactions contemplated hereby or thereby (whether in tort, in contract, under statute, including for the avoidance of doubt, any derivative claim thereunder, or otherwise), including any question regarding existence, validity, interpretation, breach or termination of the Deposit Agreement and any alleged violation of the U.S. federal securities laws. |
(ii) | Any and all Share Disputes shall be finally and exclusively resolved by arbitration under the Rules of Arbitration rules of the International Chamber of Commerce (“ICC”) (the "ICC Rules"), as amended from time to time, which ICC Rules are deemed to be incorporated by reference into this Deposit Agreement. |
(iii) | The arbitral tribunal (the "Tribunal") shall consist of three arbitrators, to be appointed in accordance with the ICC Rules. The chairman of the tribunal must have at least 20 years’ experience as a lawyer qualified to practise in a common law jurisdiction within the Commonwealth (as constituted on 12 May 2005), and each other arbitrator must have at least 20 years’ experience as a qualified lawyer. |
(iv) | If any Share Dispute raises issues which are substantially the same as or connected with issues raised in a Share Dispute which has already been referred to arbitration (an "Existing Share Dispute") or arises out of substantially the same facts as are the subject of an Existing Share Dispute (a "Related Share Dispute"), then the Tribunal appointed or to be appointed in respect of any such Existing Share Dispute shall also be appointed as the Tribunal in respect of any Related Share Dispute, save where the Tribunal considers such appointment would be inappropriate. |
(v) | Where, pursuant to the above provisions, the same Tribunal has been appointed in relation to two or more Related Share Disputes, the Tribunal may order that the whole or part of the matters at issue shall be heard together upon such terms or conditions as the Tribunal thinks fit. |
(vi) | The Tribunal shall have power to make such directions and any interim, partial or final awards as it considers just and desirable. The Tribunal, upon the request of a party to a Share Dispute, or another party which itself wishes to be joined in any reference to arbitration commenced in accordance with this Clause, may join any party to the reference to arbitration proceedings and may make a single, final award determining all Share Disputes between them. |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
4
|
(vii) | Each of the parties to the Deposit Agreement hereby agrees to be joined to any reference to arbitration proceedings in relation to any Share Dispute at the request of a party to that Share Dispute, and to accept the joinder of a party requesting to be joined pursuant to this paragraph (14). |
(viii) | The place of the arbitration shall be The Hague, The Netherlands. The language of the arbitration shall be English. |
(ix) | Each person hereby waives, as far as permitted by law: (a) any right under the laws of any jurisdiction to apply to any court of law or other judicial authority to determine any preliminary point of law, and/or (b) any right he or she may otherwise have under the laws of any jurisdiction to appeal or otherwise challenge the award, ruling or decision of the tribunal. |
(x) | The governing law applicable to such Share Dispute, including the submission to arbitration and written arbitration agreement contained in or evidenced by the Articles, shall be the substantive law of England. |
(xi) | If any court of competent jurisdiction or other competent authority including for the avoidance of doubt, a court or authority in any jurisdiction which is not a signatory to the New York Convention in any jurisdiction determines that this arbitration provision is invalid or unenforceable in relation to any Share Dispute, the Company and the Holder or owner of interests in ADSs, in each case, irrevocably agree that any related proceeding, suit or action can only be brought in the courts of England and Wales and the governing law applicable to such proceedings shall be the substantive law of England. |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
5
|
Series of Senior Debt Securities (interest rate) | Principal | Interest Payment Dates (in arrear) | Date of Issuance | Maturity Date | Prospectus Supplement | ||||||||||||
1.75% Guaranteed Notes due 2021 | $1,000,000,000 | March 12 and September 12 of each year* | September 12, 2016 | September 12, 2021 | Prospectus Supplement dated September 7, 2016 | ||||||||||||
1.875% Guaranteed Notes due 2021 | $1,500,000,000 | May 10 and November 10 of each year* | May 10, 2016 | May 10, 2021 | Prospectus Supplement dated May 5, 2016 | ||||||||||||
2.375% Guaranteed Notes due 2022 | $1,000,000,000 | February 21 and August 21 of each year* | August 21, 2012 | August 21, 2022 | Prospectus Supplement dated August 14, 2012 | ||||||||||||
0.375% Guaranteed Notes due 2023 | 1,000,000,000 | March 15 and September 15 of each year | September 15, 2020 | September 15, 2023 | Prospectus Supplement dated September 10, 2020 | ||||||||||||
2.25% Guaranteed Notes due 2023 | $1,000,000,000 | January 6 and July 6 of each year* | December 6, 2012 | January 6, 2023 | Prospectus Supplement dated November 29, 2012 | ||||||||||||
3.4% Guaranteed Notes due 2023 | $1,000,000,000 | February 12 and August 12 of each year | August 12, 2013 | August 12, 2023 | Prospectus Supplement dated August 7, 2013 | ||||||||||||
3.5% Guaranteed Notes due 2023 | $1,000,000,000 | May 13 and November 13 of each year* | November 13, 2018 | November 13, 2023 | Prospectus Supplement dated November 7, 2018 | ||||||||||||
Floating Rate Guaranteed Notes due 2023 | $500,000,000 | February 13, May 13, August 13 and November 13 of each year* | November 13, 2018 | November 13, 2023 | Prospectus Supplement dated November 7, 2018 | ||||||||||||
2% Guaranteed Notes due 2024 | $1,250,000,000 | May 7 and November 7 of each year* | November 7, 2019 | November 7, 2024 | Prospectus Supplement dated November 4, 2019 | ||||||||||||
2.375% Guaranteed Notes dues 2025 | 1,500,000,000 | April 6 and October 6 of each year | April 6, 2020 | April 6, 2025 | Prospectus Supplement dated April 1, 2020 | ||||||||||||
2.375% Guaranteed Notes dues 2025 | 750,000,000 | April 6 and October 6 of each year | September 15, 2020 | April 6, 2025 | Prospectus Supplement dated September 10, 2020 | ||||||||||||
3.25% Guaranteed Notes due 2025 | $2,750,000,000 | May 11 and November 11 of each year* | May 11, 2015 | May 11, 2025 | Prospectus Supplement dated May 6, 2015 | ||||||||||||
2.5% Guaranteed Notes due 2026 | $1,000,000,000 | March 12 and September 12 of each year* | September 12, 2016 | September 12, 2026 | Prospectus Supplement dated September 7, 2016 | ||||||||||||
2.875% Guaranteed Notes due 2026 | $1,750,000,000 | May 10 and November 10 of each year* | May 10, 2016 | May 10, 2026 | Prospectus Supplement dated May 5, 2016 | ||||||||||||
3.875% Guaranteed Notes due 2028 | $1,500,000,000 | May 13 and November 13 of each year* | November 13, 2018 | November 13, 2028 | Prospectus Supplement dated November 7, 2018 | ||||||||||||
2.375% Guaranteed Notes due 2029 | $1,500,000,000 | May 7 and November 7 of each year* | November 7, 2019 | November 7, 2029 | Prospectus Supplement dated November 4, 2019 | ||||||||||||
2.75% Guaranteed Notes due 2030 | $1,000,000,000 | April 6 and October 6 of each year | April 6, 2020 | April 6, 2030 | Prospectus Supplement dated April 1, 2020 | ||||||||||||
2.75% Guaranteed Notes due 2030 | $750,000,000 | April 6 and October 6 of each year | September 15, 2020 | April 6, 2030 | Prospectus Supplement dated September 10, 2020 | ||||||||||||
4.125% Guaranteed Notes due 2035 | $1,500,000,000 | May 11 and November 11 of each year* | May 11, 2015 | May 11, 2035 | Prospectus Supplement dated May 6, 2015 | ||||||||||||
6.375% Guaranteed Notes due 2038 | $2,750,000,000 | June 15 and December 15 | December 11, 2008 | December 15, 2038 | Prospectus Supplement dated December 8, 2008 | ||||||||||||
5.5% Guaranteed Notes due 2040 | $1,000,000,000 | March 25 and September 25 of each year* | March 25, 2010 | March 25, 2040 | Prospectus Supplement dated March 18, 2010 | ||||||||||||
3.625% Guaranteed Notes due 2042 | $500,000,000 | February 21 and August 21 of each year* | August 21, 2012 | August 21, 2042 | Prospectus Supplement dated August 14, 2012 | ||||||||||||
4.55% Guaranteed Notes due 2043 | $1,250,000,000 | February 12 and August 12 of each year | August 12, 2013 | August 12, 2043 | Prospectus Supplement dated August 7, 2013 | ||||||||||||
4.375% Guaranteed Notes due 2045 | $3,000,000,000 | May 11 and November 11 of each year* | May 11, 2015 | May 11, 2045 | Prospectus Supplement dated May 6, 2015 | ||||||||||||
3.75% Guaranteed Notes due 2046 | $1,250,000,000 | March 12 and September 12 of each year* | September 12, 2016 | September 12, 2046 | Prospectus Supplement dated September 7, 2016 | ||||||||||||
4.00% Guaranteed Notes due 2046 | $2,250,000,000 | May 10 and November 10 of each year* | May 10, 2016 | May 10, 2046 | Prospectus Supplement dated May 5, 2016 | ||||||||||||
3.125% Guaranteed Notes due 2049 | $1,250,000,000 | May 7 and November 7 of each year* | November 7, 2019 | November 7, 2049 | Prospectus Supplement dated November 4, 2019 | ||||||||||||
3.25% Guaranteed Notes dues 2050 | $1,250,000,000 | April 6 and October 6 of each year | April 6, 2020 | April 6, 2050 | Prospectus Supplement dated April 1, 2020 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
6
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
7
|
it is the continuing corporation; or |
if it is not the continuing corporation, the resulting entity or transferee assumes the performance of its covenants and obligations under the 2006 Indenture and, in the case of the Company or Shell Finance as issuer, the due and punctual payments on the Senior Debt Securities or, in the case of the Company with respect to the Senior Debt Securities of Shell Finance, the performance of the related guarantee. |
failure to pay interest or any additional amounts on that series of Senior Debt Securities for 30 days when due; |
failure to pay principal of or any premium on that series of Senior Debt Securities for 14 days when due; |
failure to redeem or purchase Senior Debt Securities of that series for 14 days when required; |
failure to comply with any covenant or agreement in that series of Senior Debt Securities for 90 days after written notice by the trustee or by the holders of at least 25% in principal amount of the outstanding Senior Debt Securities issued under that indenture that are affected by that failure; |
specified events involving bankruptcy, insolvency or reorganization of the Company and, with respect to Shell Finance’s Senior Debt Securities, the Company or Shell Finance; and |
any other event of default provided for that series of Senior Debt Securities in the applicable prospectus supplement. |
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the holder gives the trustee written notice of a continuing event of default for that series; |
the holders of at least 25% in principal amount of the outstanding Senior Debt Securities of that series make a written request to Deutsche Bank Trust Company Americas to pursue the remedy; |
the holders offer to Deutsche Bank Trust Company Americas indemnity satisfactory to it; |
Deutsche Bank Trust Company Americas fails to act for a period of 60 days after receipt of the request and offer of indemnity; and |
during that 60-day period, the holders of a majority in principal amount of the Senior Debt Securities of that series do not give the trustee a direction inconsistent with the request. |
conducting any proceeding for any remedy available to Deutsche Bank Trust Company Americas; and |
exercising any trust or power conferred on Deutsche Bank Trust Company Americas relating to or arising as a result of an event of default. |
reduce the amount of Senior Debt Securities whose holders must consent to an amendment, supplement or waiver; |
reduce the rate of or change the time for payment of interest on the Senior Debt Security; |
reduce the principal of the Senior Debt Security or change its stated maturity; |
reduce any premium payable on the redemption of the Senior Debt Security or change the time at which the Senior Debt Security may or must be redeemed; |
change any obligation to pay additional amounts on the Senior Debt Security; |
make payments on or with respect to the Senior Debt Security payable in currency other than as originally stated in the Senior Debt Security, except as permitted under “Redenomination” below; |
impair the holder’s right to institute suit for the enforcement of any payment on or with respect to the Senior Debt Security; |
make any change in the percentage of principal amount of Senior Debt Securities necessary to waive compliance with certain provisions of the 2006 Indenture or to make any change in the provision related to modification; |
modify the provisions relating to the subordination of any of the Senior Debt Securities in a manner adverse to the rights of holder of that security in any material respect; or |
waive a continuing default or event of default regarding any payment on or with respect to the Senior Debt Securities. |
to cure any ambiguity, omission, defect or inconsistency; |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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to comply with the sections of the 2006 Indenture governing when the Company or Shell Finance may merge (or consummate a similar transaction), transfer their assets or substitute obligors, including any assumption of the obligations of Shell Finance under any series of Senior Debt Securities by the Company or any other subsidiary of the Company or any Voluntary Assumption; |
to provide for uncertificated Senior Debt Securities in addition to or in place of certificated Senior Debt Securities; provided, however, that the uncertificated Senior Debt Securities are issued in a registered form for purposes of Section 163(f) of the Internal Revenue Code of 1986, as amended (the “Code”) or in such a manner that such uncertificated Senior Debt Securities are described in Section 163(f)(2)(B) of the Code; |
to provide any security for, any guarantees of or any additional obligors on any series of Senior Debt Securities or the related guarantees; |
to comply with any requirement to effect or maintain the qualification of the 2006 Indenture under the Trust Indenture Act of 1939, as amended; |
to add covenants that would benefit the holders of any Senior Debt Securities or to surrender any rights the Company or Shell Finance have under the 2006 Indenture; |
to add events of default with respect to any Senior Debt Securities; |
to establish the form or terms of securities of any series as permitted by the 2006 Indenture; |
to supplement any of the provisions of the 2006 Indenture to such extent as shall be necessary to permit or facilitate the defeasance and discharge of any series of securities pursuant to the indenture; provided, however, that any such action shall not adversely affect the interest of the holders of securities of such series or any other series of securities in any material respect; |
to provide for the appointment of a successor trustee with respect of the securities of one or more series or to provide for the administration of the trusts under the 2006 Indenture by more than one trustee; and |
to make any change that does not adversely affect the rights of holders of any outstanding Senior Debt Securities of any series issued under that indenture. |
The Company and Shell Finance will be discharged from its or their obligations with respect to the Senior Debt Securities of that series and, if applicable, the related guarantees (“legal defeasance”); or |
The Company and Shell Finance will no longer have any obligation to comply with the merger covenant and other specified covenants under the 2006 Indenture, and the related events of default will no longer apply (“covenant defeasance”). |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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The Company or Shell Finance are required to pay additional amounts as described later under “Payment of Additional Amounts”; or |
The Company or any of its subsidiaries would have to deduct or withhold tax on any payment to any of the issuers to enable them to make a payment of principal or interest on a Senior Debt Security. |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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Exhibit 8.1
|
|||||
Company by country of incorporation | Address of registered office | % | ||||||
ARGENTINA | ||||||||
Bandurria Sur Investments S.A. | Avenida Pte. Roque Sáenz Pena 788, 2nd Floor, Ciudad de Buenos Aires, 1035 | 50 | ||||||
Shell Argentina S.A. | Avenida Pte. Roque Sáenz Pena 788, 2nd Floor, Ciudad de Buenos Aires, 1035 | 100 | ||||||
AUSTRALIA | ||||||||
1st Energy Pty Ltd | Level 4, 459 Little Collins Street, Melbourne, VIC 3000 | 30 | ||||||
Alliance Automation Pty Ltd | c/o Alands Accountants, Level 1/293 Queen Street, Brisbane, QLD 4000 | 50 | ||||||
Arrow Energy Holdings Pty Ltd | Level 39, 111 Eagle Street, Brisbane, QLD 4000 | 50 | ||||||
Austen & Butta Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
BC 789 Holdings Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
BG CPS Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
BNG (Surat) Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Braemar 3 Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
CCM Energy Solutions Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Condamine 1 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Condamine 2 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Condamine 3 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Condamine 4 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Condamine Power Station Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
E.R.M. Oakey Power Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Braemar 3 Power Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Braemar 3 Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Employee Share Plan Administrator Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Energy Solutions Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Financial Services Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Gas Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Gas WA01 Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Innovation Labs Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Land Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Neerabup Power Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Neerabup Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Oakey Power Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Developments Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Engineering Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Generation Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power International Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Investments Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Projects Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Retail Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Services Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Power Utility Systems Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ERM Wellington 1 Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
ESCO Pacific Holdings Pty Ltd | Level 4, 13 Cremorne Street, Richmond, VIC 3121 | 49 | ||||||
Greensense Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Lumaled Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
New South Oil Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
NewGen Neerabup Pty Ltd [b] | Infrastructure Capital Group, Level 15 Martin Place, Sydney, NSW 2000 | 50 | ||||||
NewGen Power Neerabup Pty Ltd [b] | Infrastructure Capital Group, Level 15 Martin Place, Sydney, NSW 2000 | 50 | ||||||
North West Shelf LNG Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Oakey Power Holdings Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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OME Resources Australia Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Out Performers Trading Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Petroleum Resources (Thailand) Pty. Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Powermetric Metering Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Pure Energy Resources Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QCLNG Operating Company Pty Ltd [g] | Level 30, 275 George Street, Brisbane, QLD 4000 | 75 | ||||||
QCLNG Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC (B7) Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC (Exploration) Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC (Infrastructure) Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Common Facilities Company Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 2 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 3 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 4 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 5 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 6 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 7 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 8 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Holdings 9 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Midstream Holdings Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Midstream Investments Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Midstream Land Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Midstream Limited Partnership | Level 42, Bourke Place, 600 Bourke Street, Melbourne, VIC 3000 | 100 | ||||||
QGC Midstream Services Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Northern Forestry Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Sales Qld Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 1 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 1 Tolling Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 1 UJV Manager Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 2 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 2 Tolling No.2 Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 2 Tolling Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Train 2 UJV Manager Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Upstream Finance Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Upstream Holdings Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Upstream Investments Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
QGC Upstream Limited Partnership | Level 42, Bourke Place, 600 Bourke Street, Melbourne, VIC 3000 | 100 | ||||||
Queensland Electricity Investors Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Queensland Gas Company Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Richmond Valley Solar Thermal Pty Ltd | Level 52, 111 Eagle Street, Brisbane, QLD 4000 | 100 | ||||||
Roma Petroleum Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
SASF Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Select Carbon Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
SGA (Queensland) Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
SGAI Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Shell Australia FLNG Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Australia Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Australia Services Company Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Development (PSC19) Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Development (PSC20) Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Energy Australia Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Shell Energy Holdings Australia Limited | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Energy Investments Australia Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell Global Solutions Australia Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Shell New Energies Australia Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Shell QGC Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Shell Tankers Australia Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Solpod Pty Ltd | c/o Jeffery Zivin, Unit 4, 4 George Street, Camberwell, VIC 3124 | 24 | ||||||
Sonnen Australia Pty Limited | Tenancy 6, Lionsgate Business Park, 180 Philip Highway, Elizabeth South, SA 5112 | 100 | ||||||
Starzap Pty Ltd | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 | ||||||
Sunshine 685 Pty Limited | Level 30, 275 George Street, Brisbane, QLD 4000 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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Trident LNG Shipping Services Pty Ltd | Shell House, 562 Wellington Street, Perth, WA 6000 | 100 | ||||||
Walloons Coal Seam Gas Company Pty Limited [g] | Level 30, 275 George Street, Brisbane, QLD 4000 | 75 | ||||||
AUSTRIA | ||||||||
Salzburg Fuelling GmbH | Innsbrucker Bundesstrasse 95, Salzburg, 5020 | 33 | ||||||
Shell Austria Gesellschaft mbH | Tech Gate, Donau-City-Str. 1, Vienna, 1220 | 100 | ||||||
Shell Brazil Holding GmbH | Tech Gate, Donau-City-Str. 1, Vienna, 1220 | 100 | ||||||
Shell China Holding GmbH | Schulhof 6/1, Vienna, 1010 | 100 | ||||||
TBG Tanklager Betriebsgesellschaft m.b.H. | Rettenlackstrasse 3, Salzburg, 5020 | 50 | ||||||
Transalpine Ölleitung in Österreich GmbH | Kienburg 11, Matrei in Osttirol, 9971 | 19 | ||||||
BAHAMAS | ||||||||
Shell Bahamas Power Company Inc. | P.O. Box N4805, St. Andrew's Court, Frederick Street Steps, Nassau | 100 | ||||||
Shell Western Supply and Trading Limited | GTC Corporate Services Limited, Sassoon House, Shirley Street & Victoria Avenue, Nassau | 100 | ||||||
BARBADOS | ||||||||
Shell Trinidad and Tobago Resources SRL | One Welches, Welches, St. Thomas, BB22025 | 100 | ||||||
BELGIUM | ||||||||
Belgian Shell S.A. | Cantersteen 47, Brussels, 1000 | 100 | ||||||
New Market Belgium S.A. | Cantersteen 47, Brussels, 1000 | 100 | ||||||
Shell Catalysts & Technologies Belgium N.V. | Pantserschipstraat 331, Gent, 9000 | 100 | ||||||
The New Motion Belgium BV | Borsbeeksebrug 34/1, Antwerpen, 2600 | 100 | ||||||
BERMUDA | ||||||||
Egypt LNG Shipping Limited | Clarendon House, 2 Church Street, Hamilton, HM 11 | 25 | ||||||
Gas Investments & Services Company Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 85 | ||||||
Pecten Somalia Company Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Qatar Shell GTL Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Sakhalin Energy Investment Company Ltd | Clarendon House, 2 Church Street, Hamilton, HM 11 | 28 | ||||||
Shell Australia Natural Gas Shipping Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Bermuda (Overseas) Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Deepwater Borneo Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell EP International Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Holdings (Bermuda) Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell International Trading Middle East Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Markets (Middle East) Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Oman Trading Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Petroleum (Malaysia) Ltd | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Saudi Arabia (Refining) Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Trading (M.E.) Private Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Shell Trust (Bermuda) Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
Solen Life Insurance Limited | 3rd Floor Continental Building, 25 Church Street, Hamilton, HM 12 | 100 | ||||||
BRAZIL | ||||||||
BG Comercio e Importacao Ltda. | Avenida das Republica do Chile 330, 23º Andar, Torre 2, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
BG Petroleo & Gas Brasil Ltda. | Avenida das Republica do Chile 330, 23º Andar (parte) - Torre 2, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
Marlim Azul Energia S.A. | Avenida Paulista, 1274, 8º andar, Conjunto 23, Sala B, Bela Vista, São Paulo, 01310-100 | 30 | ||||||
Pecten do Brasil Servicos de Petroleo Ltda. | Avenida República do Chile nº 330, Bloco 2, Sala 2301, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
Raizen Combustíveis S.A. | Avenida das Almirante Barroso, nº 81, 36º Andar, Sala 36A104, Rio de Janeiro, 20031-004 | 54 | ||||||
Raizen Energia S.A. | Avenida Brigadeiro Faria Lima, 4100, 11th floor, part V, Itaim Bibi, São Paulo, 04538-132 | 49 | ||||||
Seapos Ltda. | Avenida República do Chile nº 330, Bloco 2, Sala 2401, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
Shell Brasil Petroleo Ltda. | Avenida República do Chile nº 330, Bloco 2, Salas 2001, 2301, 2401, 2501, 3101, 3201, 3301 e 3401, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
Shell Energy do Brasil Gás Ltda. | Avenida República do Chile nº 330, Bloco 2, Sala 2001, Centro, Rio de Janeiro, 20031-170 | 100 | ||||||
Shell Energy do Brasil Ltda. | Avenida Brigadeiro Faria Lima nº 3.311, Conjunto 82, Itaim Bibi, São Paulo, 04538-133 | 100 | ||||||
BRUNEI | ||||||||
Brunei LNG Sendirian Berhad | Lumut, Seria, KC2935 | 25 | ||||||
Brunei Shell Marketing Company Sendirian Berhad | Brunei Shell Petroleum Company, Sendirian Berhad, Seria, KB2933 | 50 | ||||||
Brunei Shell Petroleum Company Sendirian Berhad | Jalan Utara, Panaga, Seria, KB2933 | 50 | ||||||
Brunei Shell Tankers Sendirian Berhad | Jalan Utara, Panaga, Seria, KB2933 | 25 | ||||||
Shell Borneo Sendirian Berhad | c/o BSP Head Office, NDCO Block, Ground Floor, Jalan Utara, Panaga Seria, KB3534 | 100 | ||||||
BULGARIA | ||||||||
Shell Bulgaria Ead | 48, Sitnyakovo Blvd., Serdika Offices, 8th floor, Sofia, 1505 | 100 | ||||||
CAMBODIA | ||||||||
Angkor Resources Company Limited | 186C, Street No. 155, N/A - Tuol Tumpung Muoy, Chamkar Mon, Phnom Penh | 49 | ||||||
CANADA | ||||||||
10084751 Canada Limited | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
1745844 Alberta Ltd. | 2100, 855 - 2nd Street S.W., Calgary, Alberta, T2P 4J8 | 50 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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7026609 Canada Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
7645929 Canada Limited | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Alberta Products Pipe Line Ltd. | 5305 McCall Way N.E., Calgary, Alberta, T2E 7N7 | 20 | ||||||
Cansolv Technologies Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Coral Cibola Canada Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
FP Solutions Corporation | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 33 | ||||||
LNG Canada Development Inc. [b] | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 40 | ||||||
Sable Offshore Energy Inc. | 1701 Hollis Street, Suite 1400, Halifax, Nova Scotia, B3J 3M8 | 33 | ||||||
SCL Pipeline Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
SFJ Inc. | 199 Bay Street, Suite 5300, Commerce Court West, Toronto, Ontario, M5L 1B9 | 50 | ||||||
Shell Americas Funding (Canada) Limited | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada BROS Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada Energy [c] | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada Limited | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada OP Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada Products | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada Resources [c] | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Canada Services Limited | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Catalysts & Technologies Canada Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Chemicals Canada [c] | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Energy Merchants Canada Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Energy North America (Canada) Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Global Solutions Canada Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Quebec Limitée | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Shell Trading Canada [c] | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
Sun-Canadian Pipe Line Company Limited | 830 Highway No. 6 North, Flamborough, Ontario, L0R 2H0 | 45 | ||||||
Trans-Northern Pipelines Inc. | 45 Vogel Road, Suite 310, Richmond Hill, Ontario, L4B 3P6 | 33 | ||||||
Zeco Systems (Canada) Inc. | 400 4th Avenue S.W., Calgary, Alberta, T2P 0J4 | 100 | ||||||
CAYMAN ISLANDS | ||||||||
Beryl North Sea Limited | Sterling Trust (Cayman) Limited, Whitehall House, 238 North Church Street, P.O. Box 1043, George Town, Grand Cayman, KY1-1102 | 100 | ||||||
BG Egypt S.A. | Piccadilly Centre, 28 Elgin Avenue, Suite 201, P.O. Box 2570, George Town, Grand Cayman, KY1-1103 | 100 | ||||||
BG Exploration and Production India Limited | Campbells, Floor 4, Willow House, Cricket Square, George Town, Grand Cayman, KY1-9010 | 100 | ||||||
Gas Resources Limited | Piccadilly Centre, 28 Elgin Avenue, Suite 201, P.O. Box 2570, George Town, Grand Cayman, KY1-1103 | 100 | ||||||
KE Namibia Company | c/o Appleby Global Services (Cayman) Limited, 71 Fort Street, P.O. Box 500, George Town, Grand Cayman, KY1-1106 | 100 | ||||||
KE STP Company | c/o Appleby Global Services (Cayman) Limited, 71 Fort Street, P.O. Box 500, George Town, Grand Cayman, KY1-1106 | 100 | ||||||
KE Suriname Company | c/o Appleby Global Services (Cayman) Limited, 71 Fort Street, P.O. Box 500, George Town, Grand Cayman, KY1-1106 | 100 | ||||||
Portfolio Holdings | c/o Appleby Global Services (Cayman) Limited, 71 Fort Street, P.O. Box 500, George Town, Grand Cayman, KY1-1106 | 100 | ||||||
Schiehallion Oil & Gas Limited | Caledonian Trust (Cayman) Limited, Caledonian House, 69 Dr Roy's Drive P.O. Box 1043, George Town, Grand Cayman, KY1-1102 | 100 | ||||||
Shell Bolivia Corporation | Piccadilly Centre, 28 Elgin Avenue, Suite 201, P.O. Box 2570, George Town, Grand Cayman, KY1-1103 | 100 | ||||||
Shell North Sea Holdings Limited | Maples Corporate Services Limited, Ugland House, P.O. Box 309, George Town, Grand Cayman, KY1-1104 | 100 | ||||||
CHILE | ||||||||
Shell Chile S.A. | c/o Carey y Cia Abogados, Miraflores 222, Piso 28, Santiago | 100 | ||||||
CHINA | ||||||||
Anhui Shell Energy Company Limited | Room 2519-2522, 25/F, Greenland Center, Cross-area of Susong Rd and Changqin St, South Erhuan, Baohe District, Hefei, Anhui, 230000 | 100 | ||||||
Beijing Shell Petroleum Company Ltd. | Unit 1101-1104, level 11, Building 1, No. 19 Chaoyang Park Road, Chaoyang District, Beijing, 100125 | 49 | ||||||
Cansolv Technologies (Beijing) Company Limited | Unit 09, Level 31, No. 16 Building, No. 1 Jian Guo Men Wai Avenue, Chaoyang District, Beijing, 100004 | 100 | ||||||
Chongqing Shell Energy Company Limited | No. 196, Shuang Yuan Street, Beibei Zone, Chongqing, 400700 | 100 | ||||||
Climate Bridge (Shanghai) Ltd. | Room 609, building No. 1, No. 388 North Mu Hua Road, Fengxian Dist, Shanghai, 200120 | 49 | ||||||
CNOOC and Shell Petrochemicals Company Limited | Dayawan Petrochemical Industrial Park, Huizhou, Guangdong, 516086 | 50 | ||||||
Fujian Xiangyu and Shell Petroleum Company Limited | Unit 604, 6/F, Building C, No. 3 Yunan Fourth Road, FTPZ Xiamen Sub-zone (Tariff-free Zone), Xiamen, 361000 | 49 | ||||||
Hubei Shell Energy Company Limited | No. 4, 5, 12/F, Unit A, Oceanwide International Center Office, 187 Yunxia Road, CBD, Jianhan District, Wuhan, 430000 | 100 | ||||||
Hunan Shell Energy Company Limited | Room 2407-2409, Building 15, Fangmaoyuan (Phase II), No. 1177 Huanhu Road, Yuelu District, Changsha, 410006 | 100 | ||||||
Infineum (China) Co. Ltd. | No. 1 Dongxin Road, Jiangsu Yangtze River International, Chemical Industry Park, Zhangjiagang, Jiangsu, 215600 | 50 | ||||||
Jiangsu Shell Energy Company Limited | Room 1801, Building 1, International Finance Center, No. 347, Jiangdong Middle Road, Jianye District, Nanjing, Jiangsu, 210019 | 100 | ||||||
Shell (Beijing) Real Estate Consulting Ltd. | Unit 01, 32/F, No. 16 Building, No. 1 Courtyard, Jian Guo Men Wai Avenue, Chaoyang District, Beijing, 100004 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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Shell (China) Limited | 30/F Unit 01-02, No. 16 Building, No. 1 Courtyard, Jian Guo Men Wai Avenue, Chaoyang District, Beijing, 100004 | 100 | ||||||
Shell (China) Projects & Technology Limited | Unit 01-08, Level 31, No. 16 Building, No. 1 Jian Guo Men Wai Avenue, Chaoyang District, Beijing, 100004 | 100 | ||||||
Shell (Shanghai) Petroleum Company Limited | Room 522, The British Road No. 38, China (Shanghai) Pilot Free Trade Zone, Shanghai, 200131 | 100 | ||||||
Shell (Shanghai) Technology Limited | Building 4, Jin Chuang Building, No. 4560, Jin Ke Road, Pilot Free Trade Zone, Shanghai | 100 | ||||||
Shell (Tianjin) Lubricants Company Limited | North to Gang Bei Road and East to Hai Gang Road, Nangang Industrial Zone, Tianjin Economic-Technological Development Area, Tianjin, 300280 | 100 | ||||||
Shell (Tianjin) Oil and Petrochemical Company Limited | No. 286 Nansan Road, Tianjin Harbour Nanjiang Dev. Zone, Tanggu, Binhai NewDistrict, Tianjin, 300452 | 100 | ||||||
Shell (Zhejiang) Petroleum Trading Limited | No. 1 Wangjiaba, Xinmiaozhi Village, Puyuan Town, Tongxiang, Jiaxing, Zhejiang, 314502 | 100 | ||||||
Shell (Zhuhai) Lubricants Company Limited | Nanjin Wan, Gaolan Dao, Gaolan Harbour Economic Zone, Zhuhai, 519050 | 100 | ||||||
Shell Energy (China) Limited | Room 530, 5th Floor, Building 1, No. 239 Gang'ao Road, China (Shanghai) Free Trade Zone, Shanghai, 200137 | 100 | ||||||
Shell Management and Consulting Company Limited | 8/F, Building 1, No. 818 Shenchang Road, Minhang District, Shanghai, 201106 | 100 | ||||||
Shell North China Petroleum Group Co., Ltd. | Room 518, 5th Floor, Office Building, Tianjin Food Group Company Ltd, No. 96, Qixiangtai Road, Hexi District, Tianjin, 300074 | 49 | ||||||
Shell Road Solutions (Zhenjiang) Co. Ltd | No. 68 Xianiejia, Dagang, Zhenjiang New District, Zhenjiang, 212132 | 100 | ||||||
Shell Road Solutions Xinyue (Foshan) Co. Ltd. | Baisha, Hekou, Sanshui District, Foshan, Guangdong, 528133 | 60 | ||||||
Shell Ventures Company Limited | 8/F, Building 1, No. 818 Shenchang Road, Minhang District, Shanghai, 201106 | 100 | ||||||
Sinopec and Shell (Jiangsu) Petroleum Marketing Company Limited | No. 100, Xingang Dadao, Nanjing Economic and Technological Development Zone, Nanjing, Jiangsu, 210000 | 40 | ||||||
Suzhou Liyuan Retail Site Management Co., Ltd. | No. 358 Zhuhui Road, Suzhou, 215000 | 50 | ||||||
Yanchang and Shell (Guangdong) Petroleum Co., Ltd. | 39th Floor as Planning-designed (41st Floor as Self-designated), Leatop Plaza, No. 32 East Zhujiang Road, Zhujiang New Town, Tianhe District, Guangzhou | 49 | ||||||
Yanchang and Shell (Sichuan) Petroleum Company Limited | 23F, Yanlord Square, Section 2, Renmin South Road, Chengdu, Sichuan, 610016 | 45 | ||||||
Yanchang and Shell Petroleum Company Limited | 18th Floor, Tower 1, Yongli International Finance Centre, Jinye No. 1 Road, High-tech District, Xi'an, 710075 | 45 | ||||||
Zhangjiakou City Transport and Shell New Energy Co., Ltd | Building No. 2, Hebei Guokong Northern Silicon Valley Hi, No. 28 East Zhanqian Street, Qiaodong Di, Zhangjiakou, 075000 | 48 | ||||||
Zhejiang Shell Fuels Company Limited | Room 2103, North Tower, Yefeng Modern Center, No. 161, Shaoxing Road, Xiacheng District, Hangzhou, Zhejiang, 310004 | 49 | ||||||
Zhejiang Shell Oil and Petrochemical Company Limited | The Port of Zhapu, Jiaxing Municipality, Zhejiang, 314201 | 100 | ||||||
Zhejiang Transfar and Shell Energy Company Limited | Rm 1503, Building 2, Plaza of ZBA, No. 939 Minhe Road, Ningwei Street, Xiaoshan, Hangzhou, Zhejiang, 311215 | 49 | ||||||
COLOMBIA | ||||||||
Shell Colombia S.A. | Calle 90 No. 19 - 41, Oficina 702- Edificio Quantum, Bogotá, 452 | 100 | ||||||
COOK ISLANDS | ||||||||
Branstone (International) Limited [g] | Bermuda House, Tutakimoa Road, Rarotonga | 100 | ||||||
CÔTE D'IVOIRE | ||||||||
Cote d'Ivoire GNL | 14, Blvd Carde, Imm. Les Heveas, Plateau, Abidjan, BP V 194 | 13 | ||||||
CYPRUS | ||||||||
Rosneft-Shell Caspian Ventures Limited | Metochiou str, 37, Agios Andreas, Nicosia, CY-1101 | 49 | ||||||
CZECH REPUBLIC | ||||||||
Shell Czech Republic a.s. | Antala Staška 2027/77, Praha 4, 140 00 | 100 | ||||||
DENMARK | ||||||||
A/S Dansk Shell | Egeskovvej 265, Fredericia, 7000 | 100 | ||||||
DCC & Shell Aviation Denmark A/S | Nærum Hovedgade 8, Naerum, 2850 | 49 | ||||||
Shell EP Holdingselskab Danmark ApS | Egeskovvej 265, Fredericia, 7000 | 100 | ||||||
TetraSpar Demonstrator ApS | Bredgade 30, København K, 1260 | 66 | ||||||
EGYPT | ||||||||
Alam El Shawish Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 20 | ||||||
Badr Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
Burullus Gas Company S.A.E. [b] | 28 Road 270, Maadi, Cairo | 25 | ||||||
El Behera Natural Gas Liquefaction Company S.A.E. | City of Rashid, El Behera Governorate | 36 | ||||||
IDKU Natural Gas Liquefaction Company S.A.E. | City of Rashid, El Behera Governorate | 38 | ||||||
North Alam El-Shawish Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
North Um Baraka Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
Obaiyed Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
Rashid Petroleum Company S.A.E. [b] | 38 Street No. 270, Maadi, Cairo | 50 | ||||||
Shell Egypt Trading | Business View Building, No. 79, 90 Street (South), Fifth Settlement- New Cairo, Cairo, 11835 | 100 | ||||||
Shell Lubricants Egypt | Business View Building, No. 79, 90 Street (South), Fifth Settlement- New Cairo, Cairo, 11835 | 100 | ||||||
Sitra Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
The Egyptian LNG Company S.A.E. | City of Rashid, El Behera Governorate | 36 | ||||||
The Egyptian Operating Company for Natural Gas Liquefaction Projects S.A.E. | City of Rashid, El Behera Governorate | 36 | ||||||
Tiba Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 26 | ||||||
West Sitra Petroleum Company [b] | 127 Abdel Aziz Fahmy St., Heliopolis, P.O. Box 5958, Cairo, 5958 | 50 | ||||||
FINLAND | ||||||||
Shell Aviation Finland Oy | Teknobulevardi 3-5, Vantaa, 01530 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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FRANCE | ||||||||
Accurasea | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Airefsol Energies | 10 place de Catalogne, Paris, 75014 | 67 | ||||||
Airefsol Energies 2 | 10 place de Catalogne, Paris, 75014 | 67 | ||||||
Airefsol Energies 8 | 10 place de Catalogne, Paris, 75014 | 67 | ||||||
Airefsol Energies 9 | 10 place de Catalogne, Paris, 75014 | 67 | ||||||
Avitair SAS | Tour Pacific, 11/13 Cours Valmy - La Défense, Puteaux, 92800 | 100 | ||||||
Centrale Photovoltaïque Bouches-du-Rhône 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Centrale Photovoltaïque Haute-Vienne 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Centrale Photovoltaïque Landes 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Centrale Photovoltaïque Var 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Eolfi Offshore France | 10 place de Catalogne, Paris, 75014 | 10 | ||||||
Eolfi SAS | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Eoliennes du Gentilhomme | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Ferme Eolienne Flottante de Groix & Belle-Ile | 10 place de Catalogne, Paris, 75014 | 30 | ||||||
Ferme Eolienne Flottante Stenella Rhône | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Groupement Pétrolier Aviation SNC | Aéroport Roissy Charles de Gaulle, Zone de Frêt 1, 3 Rue des Vignes, Tremblay-en-France, 93290 | 20 | ||||||
Infineum France | Chemin départemental 54, Berre-L'Etang, 13130 | 50 | ||||||
Parc Eolien Aisne 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Corrèze 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Côtes Armor 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien de la Vrine | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien De Mervent | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Haute-Saône 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien HM1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Jura 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Marne 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Oise 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Oise 2 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Somme 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Somme 2 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Parc Eolien Yonne 1 | 10 place de Catalogne, Paris, 75014 | 100 | ||||||
Service Aviation Paris SNC | Orly Sud No. 144 - Bat. 438, Orly Aerogares, 94541 | 33 | ||||||
Shell Retraites SAS | Tour Pacific, 11/13 Cours Valmy - La Défense, Puteaux, 92800 | 100 | ||||||
Société de Gestion Mobilière et Immobilière SAS | Tour Pacific, 11/13 Cours Valmy - La Défense, Puteaux, 92800 | 100 | ||||||
Société des Pétroles Shell SAS | Tour Pacific, 11/13 Cours Valmy - La Défense, Puteaux, 92800 | 100 | ||||||
Ste du Pipeline Sud Européen S.A. | route d'Arles, La Fenouillère, Fos-sur-Mer, 13270 | 22 | ||||||
The New Motion France SAS | 92 Avenue Charles de Gaulle, CS 30082, Neuilly sur Seine, 92522 | 100 | ||||||
GERMANY | ||||||||
AGES Maut System GmbH & Co. KG | Berghausener Straße 96, Langenfeld, 40764 | 25 | ||||||
BEB Erdgas und Erdoel GmbH & Co. KG [b] | Riethorst 12, Hannover, 30659 | 50 | ||||||
BEB Holding GmbH [b] | Caffamacherreihe 5, Hamburg, 20355 | 50 | ||||||
Carissa Einzelhandel- und Tankstellenservice GmbH & Co. KG | Willinghusener Weg 5 D-E, Oststeinbek, 22113 | 100 | ||||||
Carissa Verwaltungsgesellschaft mbH | Suhrenkamp 71 - 77, Hamburg, 22335 | 100 | ||||||
CRI Deutschland GmbH | Am Haupttor, Bau 8322, Leuna, 06237 | 100 | ||||||
Deutsche Infineum GmbH & Co. KG | Neusser Landstraße 16, Köln, 50735 | 50 | ||||||
Deutsche Shell GmbH | Suhrenkamp 71 - 77, Hamburg, 22335 | 100 | ||||||
Deutsche Shell Holding GmbH | Suhrenkamp 71 - 77, Hamburg, 22335 | 100 | ||||||
Deutsche Transalpine Oelleitung GmbH | Paul Wassermann Str. 3, Munich, 81829 | 19 | ||||||
Energeticum Energiesysteme GmbH | St.-Leonhard-Straße 26, Balzhausen, 86483 | 100 | ||||||
Enersol GmbH | Einsteinstr. 47, Vaihingen an der Enz, 71665 | 100 | ||||||
Erdoel-Raffinerie Deurag-Nerag GmbH | Riethorst 12, Hannover, 30659 | 50 | ||||||
euroShell Deutschland GmbH & Co. KG | Suhrenkamp 71 - 77, Hamburg, 22335 | 100 | ||||||
euroShell Deutschland Verwaltungsgesellschaft mbH | Suhrenkamp 71 - 77, Hamburg, 22335 | 100 | ||||||
H2 Mobility Deutschland GmbH and Co. KG | EUREF-Campus 10-11, Berlin, 10829 | 28 | ||||||
Mineraloelraffinerie Oberrhein Verwaltungs GmbH | DEA-Scholven-Str., Karlsruhe, 76187 | 32 | ||||||
Nord-West Oelleitung GmbH [b] | Zum Oelhafen 207, Wilhelmshaven, 26384 | 20 | ||||||
Oberrheinische Mineraloelwerke GmbH [b] | DEA-Scholven-Str., Karlsruhe, 76187 | 42 | ||||||
OLF Deutschland GmbH | WeWork Europapassage, Hermannstraße 13, Hamburg, 20095 | 50 | ||||||
PCK Raffinerie GmbH [b] | Passower Chaussee 111, Schwedt/Oder, 16303 | 38 | ||||||
Rheinland Kraftstoff GmbH | Auf dem Schollbruch 24-26, Gelsenkirchen, 45899 | 100 | ||||||
Rhein-Main-Rohrleitungstransportgesellschaft mbH [b] | Godorfer Hauptstrasse 186, Köln, 50997 | 63 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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PT. Shell Indonesia | Talavera Office Park 22-26th Floor, Jl. Letjen. TB Simatupang Kav. 22-26, Jakarta Selatan, Jakarta, 12430 | 100 | ||||||
PT. Shell Manufacturing Indonesia | Talavera Office Park 22-26th Floor, Jl. Letjen. TB Simatupang Kav. 22-26, Jakarta Selatan, Jakarta, 12430 | 100 | ||||||
IRAQ | ||||||||
Basrah Gas Company | Khor Al Zubair, Basrah | 44 | ||||||
IRELAND | ||||||||
Asiatic Petroleum Company (Dublin) Limited | 1st Floor, Temple Hall, Temple Road, Blackrock, Co. Dublin, A94 K3K0 | 100 | ||||||
Irish Shell Trust Designated Activity Company | 1st Floor, Temple Hall, Temple Road, Blackrock, Co. Dublin, A94 K3K0 | 100 | ||||||
Shell and Topaz Aviation Ireland Limited | Suite 7 Northwood House, Northwood Business Park, Santry, Dublin, 9 | 50 | ||||||
ISLE OF MAN | ||||||||
Petrolon Europe Limited | First Names House, Victoria Road, Douglas, IM2 4DF | 100 | ||||||
Petrolon International Limited | First Names House, Victoria Road, Douglas, IM2 4DF | 100 | ||||||
Shell Marine Personnel (I.O.M.) Limited | Euromanx House, Freeport, Ballasalla, IM9 2AP | 100 | ||||||
Shell Ship Management Limited | Euromanx House, Freeport, Ballasalla, IM9 2AP | 100 | ||||||
ISRAEL | ||||||||
Ravin AI Ltd. | Derech Aba Hilel 16, Ramat Gan, 5250608 | 36 | ||||||
ITALY | ||||||||
Alle S.R.L. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Aquila S.p.A. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
BG Italia Power S.r.l | Via Tortona 25, Milano, 20144 | 100 | ||||||
Brindisi LNG S.r.l. | Via Tortona 25, Milano, 20144 | 100 | ||||||
Development S.R.L. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Infineum Italia S.R.L. | Strada di Scorrimento 2, Vado Ligure, Savona, 17047 | 50 | ||||||
Marco Polo Solar S.R.L. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Ramacca Solar S.R.L | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Shell Energy Italia S.R.L. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Shell Fleet Solutions Consorzio | Via Susa 40, Torino, 10138 | 100 | ||||||
Shell International Exploration and Development Italia S.p.A. | Piazza San Silvestro 8, Rome, 00187 | 100 | ||||||
Shell Italia E&P S.p.A. | Piazza San Silvestro 8, Rome, 00187 | 100 | ||||||
Shell Italia Holding S.p.A. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Shell Italia Oil Products S.R.L. | Via Vittor Pisani 16, Milano, 20124 | 100 | ||||||
Societa Italiana per l'Oleodotto Transalpino S.p.A. | Via Muggia #1, San Dorligo della Valle, Trieste, 34147 | 19 | ||||||
Societa' Oleodotti Meridionali S.p.A. | Via Giorgio Ribotta 51, Rome, 00144 | 30 | ||||||
Sonnen eServices Italia S.R.L. | Via Autostrada 32, Bergamo, 24126 | 100 | ||||||
Sonnen S.R.L. | Via Autostrada 32, Bergamo, 24126 | 100 | ||||||
JAPAN | ||||||||
K.K. Red and Yellow | Daiba Frontier Building. 2-3-2, Daiba, Minato-ku, Tokyo, 135-8074 | 100 | ||||||
K.K. SVC Tokyo | 4052-2 Nakatsu, Aikawa-cho, Aiko-gun, Kanagawa, 243-0303 | 100 | ||||||
Sakhalin LNG Services Company Ltd. | 2-3, Kanda, Awaji-cho, Chiyoda-ku, Tokyo, 101-0063 | 50 | ||||||
Shell Japan Limited | 16F Pacific Century Place Marunouchi, 1-11-1, Marunouchi, Chiyoda-Ku, Tokyo, 100-6216 | 100 | ||||||
Shell Lubricants Japan K.K. | Daiba Frontier Building. 2-3-2, Daiba, Minato-ku, Tokyo, 135-8074 | 100 | ||||||
Sonnen Japan Kabushiki Kaisha | 16F Pacific Century Place Marunouchi, 1-11-1, Marunouchi, Chiyoda-Ku, Tokyo, 100-6216 | 100 | ||||||
Y.K. Nishi-Kobe Bosai Center | 1-1-5 Wakamiya-cho, Suma-ku, Kobe-shi, Hyogo, 654-0049 | 33 | ||||||
JERSEY | ||||||||
Shell Service Station Properties Limited | 13 Castle Street, St. Helier, JE1 1ES | 100 | ||||||
LUXEMBOURG | ||||||||
Denham International Power SCSp [d] | 412F, route d'Esch, Luxembourg, L-2086 | 32 | ||||||
Shell Finance Luxembourg Sarl | 7, Rue de l'Industrie, Bertrange, Luxembourg, L-8069 | 100 | ||||||
Shell Luxembourgeoise Sarl | 7, Rue de l'Industrie, Bertrange, Luxembourg, L-8005 | 100 | ||||||
Shell Treasury Luxembourg Sarl | 7, Rue de l'Industrie, Bertrange, Luxembourg, L-8069 | 100 | ||||||
MACAU | ||||||||
Shell Macau Petroleum Company Limited | 876 Avenida da Amizade, Edificio Marina Gardens, Room 310, 3rd Floor | 100 | ||||||
MALAYSIA | ||||||||
Bonuskad Loyalty Sdn. Bhd. [g] | Level 8, Symphony House, Block D13, Pusat Dagangan Dana 1, Jalan PJU 1A/46, Petaling Jaya/Selangor Darul Ehsan, 47301 | 33 | ||||||
IOT Management Sdn. Bhd. | Lot 7689 and Lot 7690, Section 64, Kuching Town Land District, Jalan Pending, Kuching, Sarawak, 93450 | 7 | ||||||
Kebabangan Petroleum Operating Company Sdn. Bhd. [b] | Suite 13.03, 13 Floor, Menara Tan & Tan, 207 Tun Razak, Kuala Lumpur/Federal Territory, 50400 | 30 | ||||||
P S Pipeline Sendirian Berhad | Level 30, Tower 1, Petronas Twin Towers, KLCC, Kuala Lumpur/Federal Territory, 50088 | 50 | ||||||
P S Terminal Sendirian Berhad | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 35 | ||||||
Pertini Vista Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Provista Ventures Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Sarawak Shell Berhad | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
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Shell Business Service Centre Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell Global Solutions (Malaysia) Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell Malaysia Trading Sendirian Berhad | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell MDS (Malaysia) Sendirian Berhad | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 72 | ||||||
Shell New Ventures Malaysia Sdn. Bhd. [g] | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell People Services Asia Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell Sabah Selatan Sendirian Berhad | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 100 | ||||||
Shell Timur Sdn. Bhd. | 12th Floor, Menara Symphony, No. 5, Jalan Prof. Khoo Kay Kim, Seksyen 13, Petaling Jaya/Selangor Darul Ehsan, 46200 | 70 | ||||||
Shell Treasury Malaysia (L) Limited | Kensington Gardens, No. U1317, Lot 7616, Jalan Jumidar Buyong, Labuan F.T., 87000 | 100 | ||||||
Tanjung Manis Oil Terminal Management Sdn. Bhd. | Lot 7689 and Lot 7690, Section 64, Kuching Town Land District, Jalan Pending, Kuching, Sarawak, 93450 | 14 | ||||||
MAURITIUS | ||||||||
BG Mauritius LNG Holdings Ltd | 6th Floor, Tower A, 1 Cybercity, Ebene, 72201 | 100 | ||||||
BG Mumbai Holdings Limited | 6th Floor, Tower A, 1 Cybercity, Ebene, 72201 | 100 | ||||||
Pennzoil Products International Company | 33 Edith Cavell Street, Port Louis, 11324 | 100 | ||||||
MEXICO | ||||||||
Comercial Importadora S.A. De C.V. | Guillermo González Camarena No. 400, Santa Fé, Alvaro Obregón, Ciudad de México, 01210 | 50 | ||||||
Concilia Asesores y Servicios, S.A. de C.V. | Guillermo González Camarena No. 400, Santa Fé, Alvaro Obregón, Ciudad de México, 01210 | 50 | ||||||
Gas Del Litoral, S. de R.L. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 75 | ||||||
Mega Gasolineras SA de CV | Avenida Cerro Gordo del Campestre, number 201, interior 202, of Colonia Las Quintas, León, Guanajuato, 37125 | 50 | ||||||
Shell Energy Mexico, S.A. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell Exploración y Extracción de México, S.A. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell México Gas Natural, S. de R.L. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell México, S.A. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell Servicios México, S.A. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell Solutions Mexico S.A. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
Shell Trading México, S. de R.L. de C.V. | Avenida Paseo de las Palmas 340, 1st floor, Colonia Lomas de Chapultepec, Delegación Miguel Hidalgo, Ciudad de México, 11000 | 100 | ||||||
NETHERLANDS | ||||||||
Amsterdam Schiphol Pijpleiding Beheer B.V. | Amsterdamseweg 55, 1182 GP Amstelveen, P.O. Box 75650, Luchthaven Schiphol, 1118 ZS | 40 | ||||||
Attiki Gas B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
B.R.E. B.V. | Henri Berssenbruggestraat 9, Deventer, 7425 SB | 100 | ||||||
B.V. Dordtsche Petroleum Maatschappij | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
B.V. Petroleum Assurantie Maatschappij | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas Brazil E&P 12 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas Brazil Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas International B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas International Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas Netherlands Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BG Gas Sao Paulo Investments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
BJS Oil Operations B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 80 | ||||||
BJSA Exploration and Production B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Blauwwind II C.V. [d] | Weena 70, Rotterdam, 3012 CM | 20 | ||||||
Blauwwind Management II B.V. | Weena 70, Rotterdam, 3012 CM | 20 | ||||||
Bogstone Holding B.V. | Herikerbergweg 238, Amsterdam, 1101 CM | 51 | ||||||
Caspi Meruerty Operating Company B.V. [b] | Muiderstraat 1, Amsterdam, 1011 PZ | 40 | ||||||
Chosun Shell B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Cicerone Holding B.V. | Herikerbergweg 238, Amsterdam, 1101 CM | 51 | ||||||
CrossWind Beheer B.V. [b] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 80 | ||||||
Crosswind C.V. [b] [d] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 80 | ||||||
Ellba B.V. [b] | Vondelingenweg 601, Vondelingenplaat, Rotterdam, 3196 KK | 50 | ||||||
Ellba C.V. [b] [d] | Vondelingenweg 601, Vondelingenplaat, Rotterdam, 3196 KK | 50 | ||||||
Energiepark Pottendijk B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Euroshell Cards B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Fitzroy C.V. [d] | Stationsplein 45, Rotterdam, 3013 AK | 20 | ||||||
Gasterra B.V. | P.O. Box 477, Groningen, 9700 AL | 25 | ||||||
Geocombinatie Leeuwarden B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 30 | ||||||
Guara B.V. | Weena 762, 9e verdieping, Rotterdam, 3014 DA | 30 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E9
|
HKN LP 1 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
HKN LP 2 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
HKN LP 3 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
HKN LP 4 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
HKN LP 5 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
HKN LP 6 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Hkz Lp 18 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Hkz Lp 19 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Hkz Lp 20 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Hkz Lp 21 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Hkz Lp 22 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Iara B.V. | Weena 762, 9e verdieping, Rotterdam, 3014 DA | 4 | ||||||
Infineum Holdings B.V. | Herikerbergweg 238, Amsterdam, 1101 CM | 50 | ||||||
Integral Investments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Jordan Oil Shale Company B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Karachaganak Petroleum Operating B.V. [b] | Strawinskylaan 1345, Amsterdam, 1077 XX | 29 | ||||||
Lapa Oil & Gas B.V. | Weena 762, 9e verdieping, Rotterdam, 3014 DA | 30 | ||||||
Libra Oil & Gas B.V. | Weena 762, 9e verdieping, Rotterdam, 3014 DA | 20 | ||||||
LNG Shipping Operation Services Netherlands B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Loyalty Management Netherlands B.V. | Polaris Avenue 81, P.O. Box 2047, 2130 GE, Hoofddorp, 2132 JH | 40 | ||||||
Maasvlakte Olie Terminal C.V. [d] | Europaweg 975, Maasvlakte, Rotterdam, 3199 LC | 16 | ||||||
Multi Tank Card B.V. | Antareslaan 39, P.O. Box 3068, 2130 KB, Hoofddorp, 2132 JE | 30 | ||||||
N.V. Rotterdam-Rijn Pijpleiding Maatschappij [b] | Butaanweg 215, Vondelingplaat, Rotterdam, 3196 KC | 56 | ||||||
Nederlandse Aardolie Maatschappij B.V. | Schepersmaat 2, Assen, 9405 TA | 50 | ||||||
Netherlands Alng Holding Company B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Noordzeewind B.V. | 2e Havenstraat 5b, Ijmuiden, 1976 CE | 50 | ||||||
Noordzeewind C.V. [d] | 2e Havenstraat 5b, Ijmuiden, 1976 CE | 50 | ||||||
North Caspian Operating Company N.V. [b] | Oostduinlaan 2, The Hague, 2596 JM | 17 | ||||||
Paqell B.V. | Reactorweg 301, unit 1.3, Utrecht, 3542 AD | 50 | ||||||
Pottendijk Energie B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Pottendijk Wind B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Pottendijk Zon B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Raffinaderij Shell Mersin N.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
RESCO B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Rotterdam Hydrogen Company B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Salym Petroleum Development N.V. [b] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 50 | ||||||
Salym Petroleum Services B.V. [b] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 50 | ||||||
Shell & AMG Recycling B.V [d] | Strawinskylaan 1343, Amsterdam, 1077 XX | 50 | ||||||
Shell Abu Dhabi B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Additives Holdings (I) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Additives Holdings (II) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Albania Block 4 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell and Vivo Lubricants B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 50 | ||||||
Shell Brazil Holding B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Business Development Central Asia B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Caspian B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Caspian Pipeline Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Chemicals Europe B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Shell China B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell China Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Deepwater Tanzania B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Development Iran B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Downstream Services International B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Shell E and P Offshore Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Egypt N.V. [e] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Energy Europe B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Holdings (EE&ME) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Middle East Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Oman B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Russia Investments (III) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Russia Investments (V) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E10
|
Shell EP Somalia B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell EP Wells Equipment Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (100) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (101) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (102) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (103) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (105) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (106) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (107) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (82) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (84) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (89) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (90) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (91) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (92) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (93) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (94) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (96) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (99) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LI) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LVIII) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXI) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXII) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXV) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXVI) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXXI) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (LXXV) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production (XL) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Brunei B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Investments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Mauritania (C10) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Mauritania (C19) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Services (RF) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production South Africa B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Ukraine I B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Ukraine Investments (I) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production Ukraine Investments (II) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration and Production West-Siberia B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration Company (RF) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration Company (West) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration Company B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Exploration Venture Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Finance (Netherlands) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas & Power Developments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas (LPG) Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas Iraq B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas Nigeria B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Gas Venezuela B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Generating (Holding) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Geothermal B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Global Solutions (Eastern Europe) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Global Solutions International B.V. | Lange Kleiweg 40, Rijswijk, 2288 GK | 100 | ||||||
Shell Global Solutions Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Hydrogen Operations & Production BV | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Information Technology International B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Integrated Gas Oman B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell International B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell International Exploration and Production B.V. | Carel van Bylandtlaan 16, The Hague, 2596 HR | 100 | ||||||
Shell International Finance B.V. [a] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E11
|
Shell Internationale Research Maatschappij B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Internet Ventures B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Iraq Petroleum Development B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Iraq Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Kazakhstan B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Kazakhstan Development B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Kuwait Exploration and Production B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell LNG Bunkering B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell LNG Port Spain B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Lubricants Supply Company B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Shell Manufacturing Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Mozambique B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell MSPO 2 Holding B.V. | Vondelingenweg 601, Vondelingenplaat, Rotterdam, 3196 KK | 100 | ||||||
Shell Namibia Upstream B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Nanhai B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Nederland B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Nederland Chemie B.V. [g] | Chemieweg 25, P.O. Box 6060, Moerdijk, 4780 LN | 100 | ||||||
Shell Nederland Raffinaderij B.V. | Vondelingenweg 601, Vondelingenplaat, Rotterdam, 3196 KK | 100 | ||||||
Shell Nederland Verkoopmaatschappij B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Shell Netherlands Canada Financing B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell New Energies Holding Europe B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell New Energies NL B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Offshore (Personnel) Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Offshore Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Offshore Upstream South Africa B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell OKLNG Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Olie OG Gas Holding B.V. [i] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Oman Exploration and Production B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Overseas Holdings (Oman) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Overseas Investments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Pensioenbureau Nederland B.V. | Postbus 157, The Hague, 2501 CD | 100 | ||||||
Shell Petroleum N.V. [a] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Philippines Exploration B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Project Development (VIII) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell RDS Holding B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Sakhalin Holdings B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Sakhalin Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Salym Development B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Sao Tome and Principe B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Services Oman B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Shared Services (Asia) B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell South Syria Exploration B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell TapUp B.V. | Hofplein 20, Rotterdam, 3032 AC | 100 | ||||||
Shell Technology Ventures Fund 1 B.V. | Strawinskylaan 3127 8e etage, Amsterdam, 1077 ZX | 52 | ||||||
Shell Trademark Management B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Trading Rotterdam B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Shell Trading Russia B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Upstream Albania B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Upstream Development B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Upstream Indonesia Services B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Upstream Turkey B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Ventures B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Ventures Investments B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Western LNG B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Windenergy Netherlands B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Shell Windenergy NZW I B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
Snijders Olie B.V. | Weena 70, Rotterdam, 3012 CM | 100 | ||||||
Solar-EW II B.V. | Winthontlaan 200, Utrecht, 3526 KV | 100 | ||||||
SolarNow B.V. | Zeelandsestraat 1, Millingen aan de Rijn, 6566 DE | 23 | ||||||
Syria Shell Petroleum Development B.V. [h] | Carel van Bylandtlaan 30, The Hague, 2596 HR | 65 | ||||||
Tamba B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 50 | ||||||
Tankstation Exploitatie Maatschappij Holding B.V. | Weena 70, Rotterdam, 3012 CM | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E12
|
The Green Near Future 5 B.V. | Carel van Bylandtlaan 30, The Hague, 2596 HR | 100 | ||||||
The New Motion B.V. | Rigakade 20, Amsterdam, 1013 BC | 100 | ||||||
Travis Road Services International B.V. | Dr. Hub van Doorneweg 183, Tilburg, 5026 RD | 34 | ||||||
Tupi B.V. | Weena 762, 9e verdieping, Rotterdam, 3014 DA | 23 | ||||||
W2C GP B.V. | Stationsplein 45, Rotterdam, 3013 AK | 20 | ||||||
Waalbrug Exploitatie Maatschappij B.V. | Henri Berssenbruggestraat 9, Deventer, 7425 SB | 100 | ||||||
Zeolyst C.V. | Oosterhorn 36, Farmsum, 9936 HD | 50 | ||||||
NEW ZEALAND | ||||||||
Energy Finance NZ Limited | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
Energy Holdings Offshore Limited | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
Shell (Petroleum Mining) Company Limited | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
Shell Energy Asia Limited | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
Shell Investments NZ Limited | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
Shell New Zealand Pensions Limited | Mercer (N.Z.) Limited, Floor 2, 20 Customhouse Quay, Wellington, 6011 | 100 | ||||||
Southern Petroleum No Liability | c/o Baker Tilly Staples Rodway Taranaki Limited, 109-113 Powderham Street, P.O. Box 146, New Plymouth, Taranaki, 4340 | 100 | ||||||
NIGERIA | ||||||||
BG Exploration and Production Nigeria Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
BG Upstream A Nigeria Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Delta Business Development Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Nigeria LNG Limited | Corporate Office, Intels Aba Road Estate, Km16 Aba Expressway, Port Harcourt, 500211 | 26 | ||||||
NLNG Shipping Management Limited | Corporate Office, Intels Aba Road Estate, Km16 Aba Expressway, Port Harcourt, 500211 | 20 | ||||||
Shell Exploration and Production Africa Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Business Operations Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Closed Pension Fund Administrator Ltd | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Exploration and Production Company Ltd | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Exploration and Production Echo Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Exploration Properties Alpha Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Exploration Properties Beta Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Exploration Properties Charlie Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Gas Ltd (SNG) | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Infrastructure Development Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Offshore Prospecting Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Ultra Deep Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Nigeria Upstream Ventures Limited | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 100 | ||||||
Shell Thrift & Loan Fund Trustees Nig Ltd | Freeman House, 21/22 Marina, P.M.B. 2418, Lagos | 99 | ||||||
The Shell Petroleum Development Company of Nigeria Limited | Shell Industrial Area, P.O. Box 263, Rivers State, Port Harcourt, 500272 | 100 | ||||||
NORWAY | ||||||||
A/S Norske Shell | Tankvegen 1, Tananger, 4056 | 100 | ||||||
Aviation Fuelling Services Norway AS | Bygg 6, Drammensveien 134, Oslo, 0277 | 50 | ||||||
Enhanced Well Technologies Group AS | Kongsgårdbakken 1, Stavanger, 4005 | 22 | ||||||
Gasnor AS | Helganesvegen 59, Avaldsnes, Karmøy, 4262 | 100 | ||||||
Ormen Lange Eiendom DA | Nyhamna, Aukra, 6480 | 18 | ||||||
Shell New Energies Norway AS | Karenslyst Allé 2, Oslo, 0278 | 100 | ||||||
Technology Centre Mongstad DA | Mongstad 71A, Mongstad, 5954 | 9 | ||||||
OMAN | ||||||||
Oman LNG LLC | P.O. Box 560, Mina Al Fahal, Muscat, 116 | 30 | ||||||
Petroleum Development Oman LLC | P.O. Box 81, Mina Al Fahal, Muscat, 113 | 34 | ||||||
Shell Development Oman LLC | P.O. Box 74, Mina Al Fahal, Muscat, 116 | 100 | ||||||
Shell Oman Marketing Company SAOG | P.O. Box 38, Mina Al Fahal, Muscat, 116 | 49 | ||||||
Sohar Solar Qabas (FZC) LLC | P.O. Box 398, Sohar Free Zone, North Al Batinah Governorate, Sohar, 322 | 100 | ||||||
PAKISTAN | ||||||||
Pak Arab Pipeline Company Limited | House No. 2-B, Nazimuddin Road, F-8/1, Islamabad, 75400 | 20 | ||||||
Pakistan Energy Gateway Limited | E110, Khayaban e Jinnah, Lahore Cantonement, Punjab, Cantonement, 54810 | 33 | ||||||
Shell Energy Pakistan (smc-private) Limited | Shell House, 6 Ch. Khaliquzzaman Road, Karachi, 75530 | 100 | ||||||
Shell Pakistan Limited | Shell House, 6 Ch. Khaliquzzaman Road, Karachi, 75530 | 76 | ||||||
PERU | ||||||||
Shell GNL Peru S.A.C. | Calle Dean Valdivia 111, Oficina 802, San Isidro, Lima, Lima 27 | 100 | ||||||
Shell Operaciones Peru S.A.C. | Calle Dean Valdivia 111, Oficina 802, San Isidro, Lima, Lima 27 | 100 | ||||||
PHILIPPINES | ||||||||
Bonifacio Gas Corporation | 2nd Floor, Bonifacio Technology Center, 31st Street corner 2nd Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 24 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E13
|
Connected Freight Solutions Philippines, Inc. | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 80 | ||||||
Kamayan Realty Corporation | NDC Bldg., 116 Tordesillas St., Salcedo Village, Makati City, Metro Manila, 1227 | 22 | ||||||
Pilipinas Shell Petroleum Corporation | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 55 | ||||||
Shell Chemicals Philippines, Inc. | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 100 | ||||||
Shell Energy Philippines Inc | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 100 | ||||||
Shell Gas and Energy Philippines Corporation | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 100 | ||||||
Shell Gas Trading (Asia Pacific), Inc. | Subic Bay Free Port Zone, Olangapo City, 2200 | 100 | ||||||
Shell Solar Philippines Corporation | 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig, Metro Manila, 1635 | 100 | ||||||
Tabangao Realty, Inc. | Unit D 9th Floor Inoza Tower, 40th Street, North Bonifacio, Bonifacio Global City, Taguig, Metro Manila, 1634 | 40 | ||||||
POLAND | ||||||||
Shell Energy Retail Poland Sp. z o.o. | ul. Pawia 21, Krakow, 31-154 | 100 | ||||||
Shell Mobility Polska Sp. z o.o. | Ul. Bitwy Warszawskiej 1920r. 7a, Warszawa, 02-366 | 100 | ||||||
Shell Polska Sp. z o.o. | ul. Bitwy Warszawskiej 1920 r. nr 7A, Warsaw, 02-366 | 100 | ||||||
PUERTO RICO | ||||||||
Station Managers of Puerto Rico, Inc. | P.O. Box 186, Yabucoa, PR 00767-0186 | 100 | ||||||
QATAR | ||||||||
Marine LNG Solutions LLC [b] | 1st Floor, Al-Mirqab Tower, Doha | 50 | ||||||
Qatar Liquefied Gas Company Limited (4) | P.O. Box 22666, Doha | 30 | ||||||
Qatar Shell Research & Technology Centre QSTP-LLC | Qatar Science & Technology Park Tech1, Office 101, P.O. Box 3747, Doha | 100 | ||||||
Qatar Shell Service Company W.L.L. | Al Mirqab Tower, West Bay, P.O. Box 3747, Doha | 100 | ||||||
RUSSIA | ||||||||
Gazpromneft-Aero Bryansk LLC [b] | Sinopskaya Naberezhnaya, 22 A, office 811, Sankt-Peterburg, 191167 | 50 | ||||||
Khanty-Mansiysk Petroleum Alliance Closed Joint Stock Company [b] | 24 A Yakubovicha ul., Saint Petersburg, 190000 | 50 | ||||||
Limited Liability Company "Shell Neft" | 9 Lesnaya street, floor 3, Moscow, 125196 | 100 | ||||||
Limited Liability Company "Shell Neftegaz Development (V)" | 9 Lesnaya street, floor 4, Moscow, 125196 | 100 | ||||||
LLC Shell NefteGaz Development | 9 Lesnaya street, floor 4, Moscow, 125196 | 100 | ||||||
Syriaga Neftegaz Development LLC | 9 Lesnaya street, floor 4, Moscow, 125196 | 100 | ||||||
SAINT KITTS AND NEVIS | ||||||||
Shell Oil & Gas (Malaysia) LLC | Morning Star Holdings Limited, Main Street, Suite 556, Charlestown, Nevis, West Indies | 90 | ||||||
SAINT LUCIA | ||||||||
BG Atlantic 1 Holdings Limited | Mercury Court, Choc Estate, Castries | 100 | ||||||
BG Atlantic 2/3 Holdings Limited | Mercury Court, Choc Estate, Castries | 100 | ||||||
BG Atlantic 4 Holdings Limited | Mercury Court, Choc Estate, Castries | 100 | ||||||
BG Central Holdings Ltd. | Mercury Court, Choc Estate, Castries | 100 | ||||||
BG West Indies No. 2 Limited | Mercury Court, Choc Estate, Castries | 100 | ||||||
SAUDI ARABIA | ||||||||
Al Jomaih and Shell Lubricating Oil Co.Ltd. | P.O. Box 41467, Riyadh, 11521 | 50 | ||||||
SINGAPORE | ||||||||
BG Asia Pacific Holdings Pte. Limited | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
BG Asia Pacific Services Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
BG Exploration & Production Myanmar Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
BG Insurance Company (Singapore) Pte Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
BG Myanmar Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Changi Airport Fuel Hydrant Installation Pte. Ltd. | 15, Airline Road, Singapore, 819828 | 11 | ||||||
Cleantech Renewable Assets Pte Ltd | 25 Church Street, 03-04 Capital Square three, Singapore, 049482 | 49 | ||||||
Connected Freight Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 80 | ||||||
Ellba Eastern (Pte) Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Fuelng Pte. Ltd [b] | 50 Gul Road, Singapore, 629351 | 50 | ||||||
Infineum Singapore LLP | 1 Harbourfront Avenue, #08-01/08, Keppel Bay Tower, Singapore, 098632 | 50 | ||||||
Orb Energy Pte Ltd. | 50 Raffles Place #06-00, Singapore Land Tower, Singapore, 048623 | 24 | ||||||
QPI and Shell Petrochemicals (Singapore) Pte Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 51 | ||||||
Shell Catalysts & Technologies Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Chemicals Seraya Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Eastern Petroleum (Pte) Ltd [g] | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Eastern Trading (Pte) Ltd [g] | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Gas Marketing Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Integrated Gas Thailand Pte.Limited | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Myanmar Energy Pte. Ltd. | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E14
|
Shell Pulau Moa Pte Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Seraya Pioneer (Pte) Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Tankers (Singapore) Private Limited | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Shell Treasury Centre East (Pte) Ltd | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 100 | ||||||
Singapore Lube Park Pte. Ltd. [b] | 160 Tuas South Avenue 5, Singapore, 637364 | 44 | ||||||
Sirius Well Manufacturing Services Pte. Ltd. [b] | The Metropolis Tower 1, 9 North Buona Vista Drive, #07-01, Singapore, 138588 | 50 | ||||||
Zeco Systems Pte. Ltd. | 1 Commonwealth Lane, #09-30, One Commonwealth, Singapore, 149544 | 99 | ||||||
SLOVAKIA | ||||||||
SHELL Slovakia s.r.o. | Einsteinova 23, Bratislava, 851 01 | 100 | ||||||
SLOVENIA | ||||||||
Shell Adria d.o.o. | Bravnicarjeva ulica 13, Ljubljana, 1000 | 100 | ||||||
SOUTH AFRICA | ||||||||
Bituguard Southern Africa (Pty) Ltd | Twickenham, The Campus, 57 Sloan Street, Epsom Downs, Bryanston, 2021 | 36 | ||||||
Blendcor (Pty) Ltd. [b] | Honshu Road, Durban, 4001 | 36 | ||||||
Sekelo Oil Trading (Pty) Limited | 1st Floor Oxford Parks, 199 Oxford Road, Dunkeld, Gauteng, 2196 | 43 | ||||||
Shell & BP South African Petroleum Refineries (Pty) Limited [b] | Reunion, Durban, 4001 | 36 | ||||||
Shell Downstream South Africa (Pty) Ltd | Twickenham, The Campus, 57 Sloan Street, Epsom Downs, Bryanston, 2021 | 72 | ||||||
Shell South Africa Energy (Pty) Ltd | Twickenham, The Campus, 57 Sloan Street, Epsom Downs, Bryanston, 2021 | 100 | ||||||
Shell South Africa Exploration (Pty) Limited | Twickenham, The Campus, 57 Sloan Street, Epsom Downs, Bryanston, 2021 | 100 | ||||||
Shell South Africa Holdings (Pty) Ltd | Twickenham, The Campus, 57 Sloan Street, Epsom Downs, Bryanston, 2021 | 100 | ||||||
STISA (Pty) Limited | Suite OE/2, The Nautica, The Waterclub, Beach Road, Granger Bay, Cape Town, 8001 | 72 | ||||||
SOUTH KOREA | ||||||||
Hankook Shell Oil Company | No. 250, Sinsun-ro, Nam-gu, Busan, 48561 | 54 | ||||||
Hyundai and Shell Base Oil Co., Ltd | 640-6, Daejuk-ri, Daesan-eup, Seosan-shi, Chungchongnam-do, 356-713 | 40 | ||||||
Korea Impact Carbon Corporation | #704-3, Tower B. Hyundai Knowledge Industrial Center, 70 Dusan-ro, Geumcheon-gu, Seoul, 08584 | 40 | ||||||
SPAIN | ||||||||
BG Energy Iberian Holdings, S.L. | Paseo de la Castellana, 257-6º, Madrid, 28046 | 100 | ||||||
Shell & Disa Aviation España, S.L. | Rio Bullaque, 2, Madrid, 28034 | 50 | ||||||
Shell España, S.A. | Paseo de la Castellana, 257-6º, Madrid, 28046 | 100 | ||||||
Shell Spain LNG, S.A.U. | Paseo de la Castellana, 257-6º, Madrid, 28046 | 100 | ||||||
SUDAN | ||||||||
Shell (Sudan) Petroleum Development Company Limited | Shell House, P.O. Box 320, Khartoum | 100 | ||||||
SWEDEN | ||||||||
A Flygbränslehantering Aktiebolag | P.O. Box 135, Stockholm-Arlanda, 190 46 | 25 | ||||||
BG International Services AB | Deloitte, P.O. Box 450, Östersund, 831 26 | 100 | ||||||
Gothenburg Fuelling Company AB | P.O. Box 2154, Gothenburg, 438 14 | 33 | ||||||
Malmö Fuelling Services AB | Sturup Flygplats, P.O. Box 22, Malmö, 230 32 | 33 | ||||||
Shell Aviation Sweden AB | Gustavslundsvägen 22, Bromma, 16751 | 100 | ||||||
Stockholm Fuelling Services AB | P.O. Box 85, Stockholm-Arlanda, 190 45 | 25 | ||||||
SWITZERLAND | ||||||||
Saraco SA | Route de Pré-Bois 17, Cointrin, 1216 | 20 | ||||||
Shell (Switzerland) AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Brands International AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Corporate Services Switzerland AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Finance Switzerland AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Holdings Switzerland AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Lubricants Switzerland AG | Steigerhubelstrasse 8, Bern, 3008 | 100 | ||||||
Shell Trading Switzerland AG | Baarermatte, Baar, 6340 | 100 | ||||||
Shell Treasury Company Switzerland AG | Baarermatte, Baar, 6340 | 100 | ||||||
SOGEP Sociéte Genevoise des Pétroles SA | Route de Vernier 132, Vernier, 1214 | 34 | ||||||
Solen Versicherungen AG | Baarermatte, Baar, 6340 | 100 | ||||||
Stazioni Autostradali Bellinzona SA | Autostrada A2 (direzione Gottardo), Hotel Bellinzona Sud, Monte Carasso, 6513 | 50 | ||||||
UBAG - Unterflurbetankungsanlage Flughafen Zürich AG | Zwüscheteich, Rümlang, 8153 | 20 | ||||||
SYRIA | ||||||||
Al Badiah Petroleum Company | Damascus New Sham Western Dummar, Island No. 1 - Property 2299, P.O. Box 7660, Damascus | 22 | ||||||
Al Furat Petroleum Company | Damascus New Sham Western Dummar, Island No. 1 - Property 2299, P.O. Box 7660, Damascus | 20 | ||||||
TAIWAN | ||||||||
CPC Shell Lubricants Co. Ltd | No. 2, Tso-Nan Road, Nan-Tze District, P.O. Box 25-30, Kaohsiung, 811 | 51 | ||||||
Shell Taiwan Limited | International Trade Building, Room 2001, 20th Floor, 333, Keelung Road Section 1, Taipei, 110 | 100 | ||||||
TANZANIA | ||||||||
Fahari Gas Marketing Company Limited | 1st Floor Kilwa House, Plot 369, Toure Drive, Oyster Bay, P.O. Box 105833, Dar es Salaam | 53 | ||||||
Mzalendo Gas Processing Company Limited | 1st Floor Kilwa House, Plot 369, Toure Drive, Oyster Bay, P.O. Box 105833, Dar es Salaam | 53 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E15
|
Ruvuma Pipeline Company Limited | 1st Floor Kilwa House, Plot 369, Toure Drive, Oyster Bay, P.O. Box 105833, Dar es Salaam | 53 | ||||||
Tanzania LNG Limited | 1st Floor Kilwa House, Plot 369, Toure Drive, Oyster Bay, P.O. Box 105833, Dar es Salaam | 100 | ||||||
THAILAND | ||||||||
Pattanadhorn Company Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 42 | ||||||
Sahapanichkijphun Company Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 42 | ||||||
Shell Global Solutions (Thailand) Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 100 | ||||||
Shell Global Solutions Holdings (Thailand) Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 100 | ||||||
Shell Global Solutions Service (Thailand) Company Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 100 | ||||||
Thai Energy Company Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 100 | ||||||
Unitas Company Limited | 10 Soonthornkosa Road, Klongtoey, Bangkok, 10110 | 42 | ||||||
TRINIDAD AND TOBAGO | ||||||||
BG 2/3 Investments Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
Point Fortin LNG Exports Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 81 | ||||||
Shell Gas Supply Trinidad Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
Shell LNG T&T Ltd | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
Shell Manatee Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
Shell Trinidad Central Block Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
Shell Trinidad Ltd | Shell Energy House, 5 St. Clair Avenue, Port of Spain | 100 | ||||||
Shell Trinidad North Coast Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
The International School of Port of Spain Limited | 1 International Drive, Westmoorings | 25 | ||||||
TRINLING Limited | 5 Saint Clair Avenue, Saint Clair, Port of Spain | 100 | ||||||
TUNISIA | ||||||||
Amilcar Petroleum Operations S.A. | Immeuble Mezghenni, Rue du Lac Windermere, Les Berges du Lac, Tunis, 1053 - BP 36 | 50 | ||||||
Shell Tunisia LPG S.A. | Immeuble Le Tanit du Lac, Rue du Lac Windermere, Les Berges du Lac, Tunis, 1053 | 100 | ||||||
Tunisian Processing S.A. | Immeuble Le Tanit du Lac, Rue du Lac Windermere, Les Berges du Lac, Tunis, 1053 | 100 | ||||||
TURKEY | ||||||||
Ambarli Depolama Hizmetleri Ltd. Sti. | Yakuplu Mah. Gencosman Cad. No:7, Beylikduzu, Istanbul, 34524 | 35 | ||||||
Cekisan Depolama Hizmetleri Ltd. Sti. | Liman Mahallesi 60. Sokak No. 25, Konyaalti, Antalya, 07070 | 35 | ||||||
Marmara Depoculuk Hizmetleri A.S. | Sultankoy Mahallesi Maltepe Sokak No:66, Marmara Ereglisi, Tekirdag, 59750 | 32 | ||||||
Samsun Akaryakit VE Depolama A.S. | Dilovasi Organize Sanayi Bolgesi 1.Kisim, 1004 Sokak No:10, Dilovasi, Kocaeli | 35 | ||||||
Shell & Turcas Petrol A.S. | Gulbahar Mah.Salih Tozan Sok., Karamancilar Is Merkezi B Blok No:18, Esentepe, Sisli, Istanbul, 34394 | 70 | ||||||
Shell Enerji A.S. | Gulbahar Mah.Salih Tozan Sok., Karamancilar Is Merkezi B Blok No:18, Esentepe, Sisli, Istanbul, 34394 | 100 | ||||||
Shell Petrol A.S. | Gulbahar Mah.Salih Tozan Sok., Karamancilar Is Merkezi B Blok No:18, Esentepe, Sisli, Istanbul, 34394 | 70 | ||||||
UK | ||||||||
Angkor Shell Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Applied Blockchain Ltd | Level 39, One Canada Square, London, E14 5AB | 21 | ||||||
Autogas Limited | Athena House, Athena Drive, Tachbrook Park, Warwick, CV34 6RL | 50 | ||||||
BG Central Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Cyprus Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Delta Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Employee Shares Trustees Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Energy Capital Plc | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Energy Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Energy Marketing Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Equatorial Guinea Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Gas Services Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Gas Supply (UK) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG General Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG General Partner Limited | 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ | 100 | ||||||
BG Great Britain Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Group Employee Shares Trustees Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Group Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Group Pension Trustees Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Group Trustees Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Intellectual Property Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG International Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Karachaganak Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Kenya L10A Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Kenya L10B Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG LNG Investments Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Mongolia Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Netherlands | Shell Centre, London, SE1 7NA | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E16
|
BG Netherlands Financing Unlimited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Norge Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG North Sea Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG OKLNG Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Overseas Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Overseas Investments Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Overseas Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Pension Funding Scottish Limited Partnership [j] | 50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ | 100 | ||||||
BG Rosetta Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG South East Asia Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Subsea Well Project Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Tanzania Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG Trinidad LNG Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
BG UK Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Brazil Shipping I Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
British Pipeline Agency Limited | 5-7 Alexandra Road, Hemel Hempstead, Hertfordshire, HP2 5BS | 50 | ||||||
B-Snug Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
CRI Catalyst Company Europe Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Derivatives Trading Atlantic Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Dragon LNG Group Limited [b] | Main Road, Waterston, Milford Haven, Pembrokeshire, SA73 1DR | 50 | ||||||
Eastham Refinery Limited [b] | Shell Centre, London, SE1 7NA | 50 | ||||||
Enterprise Oil Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Enterprise Oil Middle East Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Enterprise Oil Norge Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Enterprise Oil U.K. Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Eolfi Scotland Limited | 15 Atholl Crescent, Edinburgh, EH3 8HA | 100 | ||||||
First Telecommunications Limited | Shell Energy House, Westwood Business Park, Westwood Way, Coventry, CV4 8HS | 100 | ||||||
First Utility Limited | Shell Energy House, Westwood Business Park, Westwood Way, Coventry, CV4 8HS | 100 | ||||||
Gainrace Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Gatwick Airport Storage and Hydrant Company Limited | Shell Centre, London, SE1 7NA | 13 | ||||||
Glossop Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
GOGB Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Heathrow Airport Fuel Company Limited | Building 1204, Sandringham Road, Heathrow Airport, Hounslow, Middlesex, TW6 3SH | 14 | ||||||
Heathrow Hydrant Operating Company Limited | Building 1204, Sandringham Road, Heathrow Airport, Hounslow, Middlesex, TW6 3SH | 10 | ||||||
Impello Limited | Shell Energy House, Westwood Business Park, Westwood Way, Coventry, CV4 8HS | 100 | ||||||
Khmer Shell Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Limejump Energy Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Intermediate 1 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Ltd | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 1 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 10 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 11 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 12 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 13 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 14 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 15 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 2 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 3 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 4 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 5 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 6 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 7 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 8 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Limejump Virtual 9 Limited | Canterbury Court, Kennington Park, 1-3 Brixton Road, London, SW9 6DE | 100 | ||||||
Machine Max Limited | Shell Centre, London, SE1 7NA | 38 | ||||||
Manchester Airport Storage and Hydrant Company Limited | One Bartholomew Close, London, EC1A 7BL | 25 | ||||||
Methane Services Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Murphy Schiehallion Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Private Oil Holdings Oman Limited | Shell Centre, London, SE1 7NA | 85 | ||||||
Sabah Shell Petroleum Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Saxon Oil Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Saxon Oil Miller Limited | Shell Centre, London, SE1 7NA | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E17
|
SELAP Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Aircraft Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Aviation Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Business Development Middle East Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Caribbean Investments Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Catalysts & Technologies Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Chemical Company of Eastern Africa Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Chemicals (Hellas) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Chemicals Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Chemicals U.K. Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell China Exploration and Production Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Clair UK Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Club Corringham Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Company (Hellas) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Company (Pacific Islands) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Corporate Director Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Corporate Secretary Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Distributor (Holdings) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Employee Benefits Trustee Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Energy Europe Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Energy Investments Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Energy Retail Limited | Shell Energy House, Westwood Business Park, Westwood Way, Coventry, CV4 8HS | 100 | ||||||
Shell Energy Supply UK LTD. | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Energy UK Limited | Shell Energy House, Westwood Business Park, Westwood Way, Coventry, CV4 8HS | 100 | ||||||
Shell EP Offshore Ventures Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Exploration and Production Tanzania Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Finance GB Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Gas Holdings (Malaysia) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Gas Marketing U.K Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Global LNG Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Hasdrubal Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Holdings (U.K.) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Information Technology International Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell International Gas Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell International Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell International Petroleum Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell International Trading and Shipping Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Malaysia Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Marine Products Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell New Energies UK Ltd | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Overseas Holdings Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Overseas Services Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Pension Reserve Company (SIPF) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Pension Reserve Company (SOCPF) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Pension Reserve Company (UK) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Pensions Trust Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Property Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell QGC Holdings Limited [g] | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell QGC Midstream 1 Limited [g] | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell QGC Midstream 2 Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell QGC Upstream 1 Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell QGC Upstream 2 Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Research Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Response Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell South Asia LNG Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Supplementary Pension Plan Trustees Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Tankers (U.K.) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Trading International Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Treasury Centre Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Treasury Dollar Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Treasury Euro Company Limited | Shell Centre, London, SE1 7NA | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E18
|
Shell Treasury UK Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Trinidad 5(A) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Trinidad and Tobago Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Trinidad Block E Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Trustee Solutions Limited | 1 Altens Farm Road, Nigg, Aberdeen, AB12 3FY | 100 | ||||||
Shell Tunisia Upstream Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell U.K. Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell U.K. North Atlantic Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell U.K. Oil Products Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Upstream Overseas Services (I) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Ventures New Zealand Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell Ventures U.K. Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Shell-Mex and B.P. Limited | Shell Centre, London, SE1 7NA | 60 | ||||||
Steama Company Limited | Pannone Corporate LLP, 378-380 Deansgate, Castlefield, Manchester, M3 4LY | 33 | ||||||
STT (Das Beneficiary) Limited [a] | Shell Centre, London, SE1 7NA | 100 | ||||||
Synthetic Chemicals (Northern) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Telegraph Service Stations Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Anglo-Saxon Petroleum Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Asiatic Petroleum Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Consolidated Petroleum Company Limited | Shell Centre, London, SE1 7NA | 50 | ||||||
The Mexican Eagle Oil Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The New Motion EVSE Limited | 4th Floor, Davidson Building, 5 Southampton Street, London, WC2E 7HA | 100 | ||||||
The Shell Company (W.I.) Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Company of Hong Kong Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Company of India Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Company of Nigeria Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Company of Thailand Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Company of The Philippines Limited | Shell Centre, London, SE1 7NA | 75 | ||||||
The Shell Company of Turkey Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Marketing Company of Borneo Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Petroleum Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
The Shell Transport and Trading Company Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
Thermocomfort Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
UK Shell Pension Plan Trust Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
United Kingdom Oil Pipelines Limited [b] | 5-7 Alexandra Road, Hemel Hempstead, Hertfordshire, HP2 5BS | 48 | ||||||
Walton-Gatwick Pipeline Company Limited [b] | 5-7 Alexandra Road, Hemel Hempstead, Hertfordshire, HP2 5BS | 52 | ||||||
West London Pipeline and Storage Limited [b] | 5-7 Alexandra Road, Hemel Hempstead, Hertfordshire, HP2 5BS | 38 | ||||||
Wonderbill Limited | Shell Centre, London, SE1 7NA | 100 | ||||||
UKRAINE | ||||||||
Alliance Holding LLC [d] | N. Grinchenko, 4, Kiev, 03038 | 51 | ||||||
Invest Region LLC [d] | N. Grinchenko, 4, Kiev, 03038 | 51 | ||||||
Shell Ukraine Exploration and Production I LLC | 4 Mykoly Grinchenka street, Kiev, 03038 | 100 | ||||||
UNITED ARAB EMIRATES | ||||||||
Abu Dhabi Gas Industries Limited (GASCO) | P.O. Box 665, Abu Dhabi | 15 | ||||||
Emdad Aviation Fuel Storage FZCO | Emdad Aviation Fuel Storage FZCO, P.O. Box 261781, Jebel Ali, Dubai | 33 | ||||||
URUGUAY | ||||||||
BG (Uruguay) S.A. | La Cumparsita, 1373 4th Floor, Montevideo, 11200 | 100 | ||||||
Dinarel S.A. | La Cumparsita, 1373 4th Floor, Montevideo, 11200 | 50 | ||||||
Gasoducto Cruz del Sur S.A. | La Cumparsita, 1373 4th Floor, Montevideo, 11200 | 40 | ||||||
USA | ||||||||
Aera Energy LLC [b] | 10000 Ming Avenue, Bakersfield, CA 93311 | 52 | ||||||
Aera Energy Services Company | 10000 Ming Avenue, Bakersfield, CA 93311 | 50 | ||||||
Airbiquity Inc. | 1191 2nd Avenue, Suite 1900, Seattle, WA 98101 | 26 | ||||||
Amberjack Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 43 | ||||||
Arizona A1 LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Arizona B1 LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Asset Management and Power Services LLC | 2441 High Timbers Drive, Suite 220, The Woodlands, TX 77380 | 50 | ||||||
Atlantic 1 Holdings LLC [c] | RL & F Service Corp, 920 N King St Floor 2, New Castle, Wilmington, DE 19801 | 46 | ||||||
Atlantic 2/3 Holdings LLC [c] | RL & F Service Corp, 920 N King St Floor 2, New Castle, Wilmington, DE 19801 | 58 | ||||||
Atlantic 4 Holdings LLC [c] | RL & F Service Corp, 920 N King St Floor 2, New Castle, Wilmington, DE 19801 | 51 | ||||||
Atlantic Shores Offshore Wind, LLC [c] | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 50 | ||||||
Au Energy, LLC | 41805 Albrae Street, Fremont, CA 94538 | 50 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E19
|
Baconton Power LLC [c] | 2237 Hatcher Hill Road, Baconton, GA 31716 | 35 | ||||||
Bengal Pipeline Company LLC | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 40 | ||||||
BG Brasilia, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG Energy Finance, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG Energy Merchants, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG Gulf Coast LNG, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG LNG Services, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG LNG Trading, LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG North America, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
BG US Services, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Bluware Headwave Ventures Inc. | 16285 Park Ten Place, Suit 300, Houston, TX 77084 | 20 | ||||||
Brazil Crude Services, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Brazos Wind Ventures, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Caesar Oil Pipeline Company, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 15 | ||||||
Colbea Enterprises, LLC | 2050 Plainfield Pike, Cranston, RI 02921 | 50 | ||||||
Colonial Pipeline Company | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 11 | ||||||
Concha Chemical Pipeline LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Crestwood Permian Basin LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 34 | ||||||
CRI Sales and Services Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
CRI Zeolites Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Cumulus Digital Systems, Inc. | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 30 | ||||||
D.Light Design Inc. | 2100 Geng Road, Suite 210, Santa Clara, Palo Alto, CA 94303 | 34 | ||||||
Deer Park Refining Limited Partnership [b] [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 50 | ||||||
Distributed Generation Solutions LLC | 2441 High Timbers Drive, Suite 220, The Woodlands, TX 77380 | 33 | ||||||
EcoSmart Solution LLC | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 35 | ||||||
Ellwood Land Holdings, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Endymion Oil Pipeline Company, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 7 | ||||||
Enterprise Oil North America Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
EPP LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
Equilon Enterprises LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Explorer Pipeline Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 26 | ||||||
Gaviota Terminal Company [d] | 150 N. Dairy Ashford, Houston, TX 77079 | 20 | ||||||
GI Energy Storage LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Husk Power Systems, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 30 | ||||||
Infineum USA Inc. | 1900 East Linden Avenue, Linden, NJ 07036 | 50 | ||||||
Infineum USA L.P. [f] | Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, DE 19808 | 50 | ||||||
J & J Lubrication, LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
Jiffy Lube International, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Lazlyng Real Estate Company, LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
LOCAP LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 28 | ||||||
LOOP LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 46 | ||||||
Maple Power Holdings LLC [b] | Bechtel Enterprises, 12011 Sunset Hills Road, Reston, VA 20190 | 68 | ||||||
Mars Oil Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 49 | ||||||
Mattox Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 54 | ||||||
Mayflower Wind Energy LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 50 | ||||||
MP2 Energy LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Energy NE LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Energy NY LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Energy Retail Holdings LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Energy Texas LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Generation LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
MP2 Mesquite Creek Wind LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
Mpower2 LLC [c] | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
Noble Assurance Company | C T Corporation System, 1999 Bryan Street, Suite 900, Dallas, TX 75201 | 100 | ||||||
Odyssey Pipeline L.L.C. [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 49 | ||||||
Oryx Caspian Pipeline, L.L.C. [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pacwest Energy, LLC. | 3450 E. Commercial Ct., Meridian, ID 83642 | 50 | ||||||
Pecten Arabian Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Brazil Exploration Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Midstream LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 69 | ||||||
Pecten Orient Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Orient Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E20
|
Pecten Producing Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Trading Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Victoria Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pecten Yemen Masila Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pennzoil-Quaker State Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pennzoil-Quaker State International Corporation | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Pennzoil-Quaker State Nominee Company | The Corporation Trust Company of Nevada, 311 South Division Street, Carson City, NV 89703 | 100 | ||||||
Peru LNG Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 20 | ||||||
Poseidon Oil Pipeline Company, LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 25 | ||||||
Positive Energies, LLC [c] | CT Corporation System, 7700 E Arapahoe Rd, Ste 220, Centennial, CO 80112-1268 | 100 | ||||||
Power Limited Partnership [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
PR Microgrids LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Premium Velocity Auto LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Proteus Oil Pipeline Company, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 7 | ||||||
Quaker State Investment Corporation | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
RDK Ventures, LLC | 4080 West Jonathan Moore Pike, Columbus, IN 47201 | 50 | ||||||
RK Caspian Shipping Company, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
S T Exchange, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Salamander Solutions Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 28 | ||||||
Sand Dollar Pipeline LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 69 | ||||||
SCOGI GP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell (US) Gas & Power M&T Holdings, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell California Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts & Technologies Americas LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts & Technologies Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts & Technologies Holdings Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts & Technologies LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts & Technologies US LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Catalysts Ventures Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Chemical Appalachia LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Chemical LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Chemicals Arabia L.L.C. [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Communications, Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Deepwater Royalties Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Downstream Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Energy Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Energy Holding GP LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Energy North America (US), L.P. [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Energy Resources Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell EP Holdings Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Expatriate Employment US Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Exploration & Production Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Exploration Company Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Frontier Oil & Gas Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Gas Gathering Corp. #2 | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Global Solutions (US) Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell GOM Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Gulf of Mexico Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Information Technology International Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell International Exploration and Production Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Lake Charles Operations, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Leasing Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Marine Products (US) Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Midstream LP Holdings LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Midstream Operating LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 69 | ||||||
Shell Midstream Partners GP LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Midstream Partners, L.P. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 69 | ||||||
Shell NA Gas & Power Holding Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell NA LNG LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell New Energies US LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell North America Gas & Power Services Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Offshore and Chemical Investments Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E21
|
Shell Offshore Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Offshore Response Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Oil Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Oil Company Investments Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Oil Products Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Onshore Ventures Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Petroleum Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Pipeline Company LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Pipeline GP LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Rail Operations Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Retail and Convenience Operations LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell RSC Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Thailand E&P Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Trademark Management Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Trading (US) Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Trading North America Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Trading Risk Management, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Trading Services Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Transportation Holdings LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Treasury Center (West) Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell US E&P Investments LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell US Gas & Power LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell US Hosting Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell Ventures LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell WindEnergy Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Shell WindEnergy Services Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Ship Shoal Pipeline Company [d] | 150 N. Dairy Ashford, Houston, TX 77079 | 43 | ||||||
Silicon Ranch Corporation | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 46 | ||||||
SOI Finance Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Sonnen Inc. | 2048 Weems Road, Bldg C, Tucker, GA 30084 | 100 | ||||||
SOPC Holdings East LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
SOPC Holdings West LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
SOPC Southeast Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Studio X LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
SWEPI LP [d] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Tejas Coral GP, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Tejas Coral Holding, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Tejas Power Generation, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Texas Petroleum Group LLC | 11111 Wilcrest Green, Suite 100, Houston, TX 77042 | 50 | ||||||
Texas-New Mexico Pipe Line Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
The Valley Camp Coal Company | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Three Wind Holdings, LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 50 | ||||||
TMR Company LLC | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Tri Star Energy LLC | 1740 Ed Temple Blvd, Nashville, TN 37208 | 33 | ||||||
Triton Diagnostics Inc. | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Triton Terminaling LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 100 | ||||||
Triton West LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 69 | ||||||
True North Energy LLC | 10346 Brecksville Rd, Brecksville, OH 44141 | 50 | ||||||
URSA Oil Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 45 | ||||||
West Shore Pipe Line Company | Corporation Service Company, 251 Little Falls Drive, Wilmington, DE 19808 | 19 | ||||||
Zeco Holdings, Inc. | 1013 Centre Road, County of New Castle, Delaware, Wilmington, DE 19805 | 100 | ||||||
Zeco Systems, Inc. | 1013 Centre Road, County of New Castle, Delaware, Wilmington, DE 19805 | 100 | ||||||
Zeolyst International | 3333 Hwy 6 South, Houston, TX 77082 | 50 | ||||||
Zydeco Pipeline Company LLC [c] | The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801 | 71 | ||||||
VENEZUELA | ||||||||
Shell Venezuela Productos, C.A. | Avenida Orinoco, Edificio Centro Empresarial Premium, Piso 2, Oficinas 2-A y 2-B, Urbanización Las Mercedes, Caracas, Distrito Capital, 1060 | 100 | ||||||
Shell Venezuela, S.A. | Avenida Orinoco, Edificio Centro Empresarial Premium, Piso 2, Oficinas 2-A y 2-B, Urbanización Las Mercedes, Caracas, Distrito Capital, 1060 | 100 | ||||||
Sucre Gas, S.A. | Avenida Leonardo Da Vinci, Edificio PDV Servicios, Caracas, Distrito Capital | 30 | ||||||
VIETNAM | ||||||||
Shell Vietnam Ltd | Go Dau Industrial Zone, Phuoc Thai Commune, Long Thanh District, Dong Nai Province | 100 | ||||||
ZIMBABWE | ||||||||
Central African Petroleum Refineries (Private) Limited | Block 1, Tendeseka Office Park, CNR Samora Machel Avenue, Renfrew Road, Harare | 21 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E22
|
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
E23
|
Exhibit 12.1
|
|||||
/s/ Ben van Beurden | |||||
Ben van Beurden | |||||
Chief Executive Officer | |||||
March 10, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
Exhibit 12.2 | |||||
/s/ Jessica Uhl | ||
Jessica Uhl | ||
Chief Financial Officer | ||
March 10, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
1
|
Exhibit 13.1 | |||||
/s/ Ben van Beurden | |||||
Ben van Beurden | |||||
Chief Executive Officer |
/s/ Jessica Uhl | |||||
Jessica Uhl | |||||
Chief Financial Officer | |||||
March 10, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
1
|
Exhibit 99.1 | |||||
/s/ Ernst & Young LLP | |||||
Ernst & Young LLP | |||||
London, United Kingdom | |||||
March 10, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020
|
1
|
Exhibit 99.2 | |||||
/s/ Ernst & Young LLP | |||||
Ernst & Young LLP | |||||
London, United Kingdom | |||||
March 11, 2021 |
ADDITIONAL INFORMATION SHELL FORM 20-F 2020 |
1
|