CITYA.M.
Shell goes tax free in the North Sea after £100m government refund
CHARLIE CONCHIE: WEDNESDAY 06 APRIL 2022
Energy giant Shell paid no tax on its North Sea oil and gas production last year even as the global energy crunch saw it profits soar to more than $19bn.
The London-headquartered firm bagged tax refunds relating to the decommissioning of old oil platforms in the North Sea, meaning it received $131.8m from the UK treasury in 2021, according to details of its payments to government released yesterday.