Shell has revealed it will pay about $2bn (£1.7bn) in UK and EU windfall taxes for the last quarter of 2022.
It comes after bosses at the London-listed oil company said in October they had not paid any UK windfall taxes because of heavy investment in the North Sea.
The firm told investors on Friday that it would face a hit to earnings for the final quarter of 2022 because of the increased UK energy profits levy and additional EU taxes.
In May, the government announced the windfall tax on the profit of oil and gas companies, with the chancellor, Jeremy Hunt, announcing in November this would be increased from an original 25% to 35%.
In the third quarter, Shell benefited from an 80% investment allowance linked to the UK windfall tax. This allowance was also significantly reduced as part of the autumn budget.
In the previous quarter, it said its adjusted earnings more than doubled to $9.5bn in the three months to the end of September when compared with the year before.
Nevertheless, this represented a fall against the previous quarter.
In total, Shell said it now expects to have paid between $4.3bn and $4.7bn in global taxes over the fourth quarter.
On Friday, the oil firm also revealed that trading in its chemicals business is expected to have been “significantly lower” in the final quarter of 2022 compared with the previous quarter.
It added that its liquefied natural gas production over the quarter was affected by major outages at two plants in Australia.
The group is due to publish its full results for the 2022 financial year on 2 February.
