Message from the Chief Financial Officer
Shell’s approach to taxes
Special topics
Our tax data
Treasury
Key figures in 2019
Support
full-time employees in 4 service centres
Treasury centres
in London and Singapore
Transacting in
currencies
Availability
through 1 global banking system
Payments and receipts
of payments and receipts per year
Global cash management
countries
Daily treasury operations include management of foreign exchange for the different currencies that are needed by Shell around the world. Treasury also advises and finances subsidiaries and joint ventures, and manages surplus funds and Shell’s bank accounts.
Financing oil and gas projects, which can take years to develop, requires significant capital. Our operating companies require a balance between equity and long-term loan funding. To provide loan financing we have capitalised lending entities in the Netherlands, Singapore and the UK. We ended our Swiss and Bermudan lending activities in 2019 and mid-2020 respectively.
Treasury reviews the funding needs of Shell’s operating companies on a case-by-case basis. Loans are made and interest is due on those loans in the same way as if those loans had been provided by an independent bank or financial institution. The loan offer and acceptance are made by the boards of the Shell lending and borrowing companies respectively.
