Shell’s Government Payments Drop as Brazil Overtakes Nigeria

Shell Plc’s payments to countries where it has upstream operations fell sharply in 2025, with Brazil overtaking Nigeria as the company’s biggest state beneficiary.

Payments to governments totaled $23.8 billion last year, down 15% from the previous year, the London-based energy giant said in disclosures published Thursday. The decline was driven largely by Nigeria, where payments more than halved to about $2 billion as Shell retreated from onshore production.