Shell Investors’ Handbook 2010-2014

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Oil and gas exploration and production activities earnings

The results of operations for oil and gas producing activities are shown in the tables below. As a result of the adoption of IFRS 11 Joint Arrangements, the earnings of certain entities in Asia and the USA, which were previously presented under the Shell share of joint ventures and associates, are presented under Shell subsidiaries with effect from 2013.

Shell subsidiaries

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2014

 

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania

Africa

North America

South America

 

 

USA

Canada

Total

[A]

Includes cash-paid royalties to governments outside North America.

Revenue

 

 

 

 

 

 

 

 

Third parties

2,808

4,914

1,867

3,004

1,078

202

126

13,999

Sales between businesses

7,869

13,973

990

6,516

9,903

7,399

1,376

48,026

Total

10,677

18,887

2,857

9,520

10,981

7,601

1,502

62,025

Production costs excluding taxes

2,831

2,282

599

2,032

3,440

3,367

482

15,033

Taxes other than income tax [A]

264

948

216

836

198

–

165

2,627

Exploration

457

1,331

232

307

1,549

88

260

4,224

Depreciation, depletion and amortisation

1,772

3,341

427

2,037

6,576

1,709

475

16,337

Other costs/(income)

766

2,058

(2,123)

129

845

2,137

78

3,890

Earnings before taxation

4,587

8,927

3,506

4,179

(1,627)

300

42

19,914

Taxation charge/(credit)

3,362

6,800

2,113

2,404

(654)

60

157

14,242

Earnings after taxation

1,225

2,127

1,393

1,775

(973)

240

(115)

5,672

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$/BOE

Revenue

73.31

65.09

65.23

69.55

68.22

77.42

79.14

69.33

Production costs excluding taxes

19.44

7.86

13.68

14.85

21.37

34.29

25.40

16.80

Taxes other than income tax [A]

1.81

3.27

4.93

6.11

1.23

–

8.69

2.94

Exploration

3.14

4.59

5.30

2.24

9.62

0.90

13.70

4.72

Depreciation, depletion and amortisation

12.17

11.51

9.75

14.88

40.85

17.41

25.03

18.26

Other income/(costs)

5.26

7.09

(48.47)

0.94

5.25

21.77

4.11

4.35

Earnings before taxation

31.50

30.76

80.05

30.53

(10.11)

3.06

2.21

22.26

Taxation charge/(credit)

23.09

23.43

48.24

17.56

(4.06)

0.61

8.27

15.92

Earnings after taxation

8.41

7.33

31.80

12.97

(6.04)

2.44

(6.06)

6.34
  Download XLS

2013

 

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania

Africa

North America

South America

 

 

USA

Canada

Total

[A]

Includes cash-paid royalties to governments outside North America.

[B]

Reflects the reclassification of certain costs.

Revenue

 

 

 

 

 

 

 

 

Third parties

4,116

5,535

1,982

2,690

3,416

52

64

17,855

Sales between businesses

8,420

17,538

1,038

6,873

7,232

7,354

684

49,139

Total

12,536

23,073

3,020

9,563

10,648

7,406

748

66,994

Production costs excluding taxes

2,656

1,762

481

1,753

3,336

3,303[B]

378

13,669[B]

Taxes other than income tax [A]

328

1,254

231

963

223

–

85

3,084

Exploration

627

1,082

396

354

1,790

312

717

5,278

Depreciation, depletion and amortisation

1,400

2,268

423

1,276

7,858

2,366

160

15,751

Other costs/(income)

1,052

3,713

40

419

1,395

2,129[B]

124

8,872[B]

Earnings before taxation

6,473

12,994

1,449

4,798

(3,954)

(704)

(716)

20,340

Taxation charge/(credit)

4,843

10,251

486

3,093

(1,461)

(231)

71

17,052

Earnings after taxation

1,630

2,743

963

1,705

(2,493)

(473)

(787)

3,288

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$/BOE

Revenue

83.36

85.42

72.58

78.92

68.80

73.78

73.19

78.94

Production costs excluding taxes

17.66

6.52

11.56

14.47

21.56

32.91[B]

36.99

16.11[B]

Taxes other than income tax [A]

2.18

4.64

5.55

7.95

1.44

–

8.32

3.63

Exploration

4.17

4.01

9.52

2.92

11.57

3.11

70.16

6.22

Depreciation, depletion and amortisation

9.31

8.40

10.17

10.53

50.78

23.57

15.66

18.56

Other costs/(income)

7.00

13.75

0.96

3.46

9.01

 21.21[B]

12.13

10.45[B]

Earnings before taxation

43.04

48.11

34.82

39.59

(25.55)

(7.01)

(70.06)

23.97

Taxation charge/(credit)

32.21

37.95

11.68

25.52

(9.44)

(2.30)

6.95

20.09

Earnings after taxation

10.84

10.16

23.14

14.07

(16.11)

(4.71)

(77.01)

3.87
  Download XLS

2012

 

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania

Africa

North America

South America

 

 

USA

Canada

Total

[A]

Includes cash-paid royalties to governments outside North America.

[B]

Reflects the reclassification of certain costs.

Revenue

 

 

 

 

 

 

 

 

Third parties

4,705

3,981

1,941

2,807

3,573

207

23

17,237

Sales between businesses

10,275

16,450

1,129

10,364

3,906

6,443

1,431

49,998

Total

14,980

20,431

3,070

13,171

7,479

6,650

1,454

67,235

Production costs excluding taxes

2,516

1,582

395

1,540

2,486

3,130[B]

255

11,904[B]

Taxes other than income tax [A]

350

410

322

1,248

39

–

145

2,514

Exploration

398

461

175

699

801

372

198

3,104

Depreciation, depletion and amortisation

1,531

1,222

304

1,261

3,837

2,037

315

10,507

Other costs/(income)

1,420

3,157

(1,769)

(322)

421

1,963[B]

63

4,933[B]

Earnings before taxation

8,765

13,599

3,643

8,745

(105)

(852)

478

34,273

Taxation charge/(credit)

6,310

10,733

1,104

5,358

(65)

(413)

137

23,164

Earnings after taxation

2,455

2,866

2,539

3,387

(40)

(439)

341

11,109

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$/BOE

Revenue

86.58

97.52

70.68

81.64

60.62

68.49

92.64

81.65

Production costs excluding taxes

14.54

7.55

9.09

9.55

20.15

32.24[B]

16.25

14.46[B]

Taxes other than income tax [A]

2.02

1.96

7.41

7.74

0.32

–

9.24

3.05

Exploration

2.30

2.20

4.03

4.33

6.49

3.83

12.62

3.77

Depreciation, depletion and amortisation

8.85

5.83

7.00

7.82

31.10

20.98

20.07

12.76

Other costs/(income)

8.21

15.07

(40.73)

(2.00)

3.41

20.22[B]

4.01

5.99[B]

Earnings before taxation

50.66

64.91

83.87

54.21

(0.85)

(8.78)

30.46

41.62

Taxation charge/(credit)

36.47

51.23

25.42

33.21

(0.53)

(4.25)

8.73

28.13

Earnings after taxation

14.19

13.68

58.46

20.99

(0.32)

(4.52)

21.73

13.49
  Download XLS

2011

 

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania

Africa

North America

South America

 

 

USA

Canada

Total

[A]

Includes cash-paid royalties to governments outside North America.

[B]

Reflects the reclassification of certain costs.

Revenue

 

 

 

 

 

 

 

 

Third parties

5,038

4,227

1,823

3,143

3,369

342

96

18,038

Sales between businesses

10,379

14,495

1,160

10,986

4,016

6,710

1,570

49,316

Total

15,417

18,722

2,983

14,129

7,385

7,052

1,666

67,354

Production costs excluding taxes

2,243

1,301

386

1,453

2,005

3,104[B]

250

10,742[B]

Taxes other than income tax [A]

390

588

300

1,499

59

–

180

3,016

Exploration

313

326

178

493

745

85

126

2,266

Depreciation, depletion and amortisation

1,473

1,008

351

1,181

2,427

1,575

352

8,367

Other costs/(income)

1,726

3,243

331

(1,071)

(842)

 1,921[B]

(504)

4,804[B]

Earnings before taxation

9,272

12,256

1,437

10,574

2,991

367

1,262

38,159

Taxation charge/(credit)

6,034

9,748

(15)

6,511

731

174

471

23,654

Earnings after taxation

3,238

2,508

1,452

4,063

2,260

193

791

14,505

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$/BOE

Revenue

83.64

99.60

65.91

82.19

65.91

78.54

82.99

83.01

Production costs excluding taxes

12.17

6.92

8.53

8.45

17.89

34.57[B]

12.45

13.24[B]

Taxes other than income tax [A]

2.12

3.13

6.63

8.72

0.53

–

8.97

3.72

Exploration

1.70

1.73

3.93

2.87

6.65

0.95

6.28

2.79

Depreciation, depletion and amortisation

7.99

5.36

7.76

6.87

21.66

17.54

17.53

10.31

Other costs/(income)

9.36

17.25

7.31

(6.23)

(7.51)

 21.39[B]

(25.11)

5.92[B]

Earnings before taxation

50.30

65.20

31.75

61.51

26.69

4.09

62.86

47.03

Taxation charge/(credit)

32.74

51.86

(0.33)

37.87

6.52

1.94

23.46

29.15

Earnings after taxation

17.57

13.34

32.08

23.63

20.17

2.15

39.40

17.88
  Download XLS

2010

 

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania

Africa

North America

South America

 

 

USA

Canada

Total

[A]

Includes cash-paid royalties to governments outside North America.

[B]

Reflects the reclassification of certain costs.

Revenue

 

 

 

 

 

 

 

 

Third parties

4,100

2,755

1,674

2,215

3,547

487

121

14,899

Sales between businesses

8,572

10,672

980

8,225

3,153

4,101

1,356

37,059

Total

12,672

13,427

2,654

10,440

6,700

4,588

1,477

51,958

Production costs excluding taxes

2,186

1,106

287

1,244

1,700

2,276[B]

209

9,008[B]

Taxes other than income tax [A]

303

333

284

1,019

100

–

154

2,193

Exploration

335

275

110

294

730

167

125

2,036

Depreciation, depletion and amortisation

2,690

748

436

1,192

1,858

3,178

636

10,738

Other costs/(income)

1,144

2,748

(2,479)

(497)

528

1,305[B]

(72)

 2,677[B]

Earnings before taxation

6,014

8,217

4,016

7,188

1,784

(2,338)

425

25,306

Taxation charge/(credit)

2,915

6,752

524

4,564

542

(614)

132

14,815

Earnings after taxation

3,099

1,465

3,492

2,624

1,242

(1,724)

293

10,491

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$/BOE

Revenue

58.55

73.72

53.86

59.47

50.85

60.72

62.26

60.81

Production costs excluding taxes

10.10

6.07

5.82

7.09

12.90

30.12[B]

8.81

10.54[B]

Taxes other than income tax [A]

1.40

1.83

5.76

5.80

0.76

–

6.49

2.57

Exploration

1.55

1.51

2.23

1.67

5.54

2.21

5.27

2.38

Depreciation, depletion and amortisation

12.43

4.11

8.85

6.79

14.10

42.06

26.81

12.57

Other costs/(income)

5.28

15.09

(50.30)

(2.82)

4.01

17.27[B]

(3.03)

3.13[B]

Earnings before taxation

27.79

45.11

81.50

40.94

13.54

(30.94)

17.91

29.62

Taxation charge/(credit)

13.47

37.07

10.63

25.99

4.11

(8.12)

5.56

17.34

Earnings after taxation

14.32

8.04

70.87

14.95

9.43

(22.82)

12.35

12.28

Shell share of joint-venture investments

  Download XLS

2014–2010

 

 

 

 

 

 

$ MILLION

 

Europe

Asia

Oceania[A]

Africa

North America

South America

Total

2014

USA

Canada

[A]

Includes Shell’s 14% share of Woodside as from June 2014 (previously: 23% as from April 2012; 24% as from November 2010; 34% before that date), a publicly listed company on the Australian Securities Exchange. We have limited access to data; accordingly, the numbers are estimated.

[B]

Includes cash-paid royalties to governments outside North America.

Third-party revenue

4,966

8,811

1,292

–

–

–

–

15,069

Production costs excluding taxes

434

829

272

–

–

–

–

1,535

Taxes other than income tax [B]

2,634

2,518

24

–

–

–

–

5,176

Exploration

22

83

66

–

–

–

18

189

Depreciation, depletion and amortisation

198

1,117

373

–

–

–

–

1,688

Other costs/(income)

(6)

643

96

–

–

–

258

991

Earnings before taxation

1,684

3,621

461

–

–

–

(276)

5,490

Taxation charge/(credit)

608

1,256

190

–

–

–

–

2,054

Earnings after taxation

1,076

2,365

271

–

–

–

(276)

3,436

2013

1,453

2,329

117

–

–

–

(14)

3,885

2012

1,658

2,979

412

–

1,155

–

(137)

6,067

2011

1,504

2,408

300

–

1,342

–

–

5,554

2010

1,394

1,085

518

–

818

–

–

3,815
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