Mexico

Shell has been active in Mexico since 1954 when it started as a chemicals business. In 2019, Shell’s activities included nine deep-water blocks, two shallow-water blocks and 198 retail sites. They also included the import and supply of gasoline/diesel, the sale of petrochemicals and lubricants through macro-distributors, the trading of natural gas by pipeline and the supply of liquefied natural gas.

Shell also has 100% capacity at the Altamira regasification plant and supplies Comisión Federal de Electricidad, the state-owned electric utility of Mexico, through the Manzanillo terminal. Shell is also active in strategic sourcing and supplier development, providing goods and services to Shell’s operations locally and worldwide.

Country Financial Analysis

The statutory corporate income tax rate in Mexico is 30%.

Tax paid during the year reflects Mexican tax payable on profits made predominantly from downstream activities.
The overall loss is due to investments made in upstream and downstream activities during the year.
Our Payments to Governments Report for 2019 also shows that Shell paid around $38.4 million in fees.