Upstream
This business unit encompasses a capital-intensive activity in which most of the taxes we pay are linked to crude oil production. We paid a total of €2.726 billion in 2022.
Tax contribution
In 2022, we paid €46 million in taxes every day.
Our Company's tax contribution by country
Taxes paid by each business unit
In our business model, the investment cycle stage and performance of the activity determines a large part of our taxes paid.
The taxes paid by each business unit in 2022 are as follows:
Upstream
This business unit encompasses a capital-intensive activity in which most of the taxes we pay are linked to crude oil production. We paid a total of €2.726 billion in 2022.
Industrial
In industrial, €11.750 billion was paid in 2022, particularly including a tax on hydrocarbons, VAT, and corporation tax.
Commercial & Renewables
In this segment, €2.313 billion was paid in 2022, particularly including a tax on hydrocarbons, VAT, and corporation tax.
Corporation
This involves providing the necessary services for every business unit throughout the entire value chain. We paid €213 million in taxes in 2022 for our corporate area.
Applying transparent and general tax breaks
We ensure that the tax breaks offered by government authorities are in accordance with the regulatory framework and are accessible to all economic players. Moreover, we support that governments publish the tax incentives included in oil contracts.
Our principles of action
Effective management
of the tax costs and benefits and applying the tax incentives and benefits available.
Tax planning
based on reasonable interpretations of applicable law aligned with its economic activity, avoiding an abusive or fraudulent result.
Effective defense
of the Company's positions in the event of disputes and conflicts with the administration regarding the interpretation and application of tax regulations.
See previous Country-by-Country Reports
See previous Tax Contribution Reports