A shell corporation is a company which serves as a vehicle for business transactions without itself having any significant assets or operations. Some shell companies may have had operations, but those may have shrunk due to unfavorable market conditions or company mismanagement. A shell corporation may also arise when a company's operations have been wound up, for example following a takeover, but the “shell” of the original company continues to exist.
Shell companies can also be used for tax avoidance. A classic tax avoidance operation is based on the buying and selling through tax haven shell companies to disguise true profits. The firm does its international operations through this shell corporation, thus not having to report to its country the sums involved, avoiding any taxes.
This was just as the Dangote Petroleum Refinery and Petrochemicals plant yesterday, confirmed the purchase of one million barrels of crude oil of Agbami grade from Shell Trading and Shipping CompanyLimited (STASCO), one of the largest trading companies in Nigeria and globally, which trades over eight million barrels of crude oil per day.
Companies ...Show more companies ... Venezuelan PresidentNicolas Maduro wants state oil company PDVSA, and oil majors' BP (BP.L), Chevron (CVX.N) and Shell (SHEL.L) to revive an offshore project with some 8 trillion cubic feet of gas reserves ... His government and PDVSA started tapping companies to weigh their interest.
He set up the shell companies ... The committee has accused Schwerin of being the architect of “various shell companies that launder money around the world.” ... What was the purpose of the shell companies you set up for Hunter Biden and his family, who asked you to set them up, and how much money was involved?.
In Ventura County, Aera Energy (until recently the joint venture of oil giants ExxonMobil and Shell) owns 23% of those unplugged, or idle, wells ...Sierra Club’s report puts the bill to plug and remediate all 1,633 idle oil wells in Ventura at $165 million, a mere 0.2% of the 2022 profits of Aera’s parent companies, ExxonMobil and Shell.
29. First of those arrested was identified by the NBI as FrancisEric Candido, who used the aliases "Morgan C ... The NBI said the operation for the arrest of the trio was conducted based on a complaint ... (FMPTC), a shell corporation, for the sole purpose of acting as the employer of their recruits and making it appear that the company is legitimate ... .
AuthorAldous Huxley once said "you shall know the truth, and the truth shall make you mad.". Such a moment of madness has arrived in Congress as members prepare to vote on the formal approval of an impeachment inquiry ... corruption ... Millions of dollars flowed to Biden family members through a labyrinth of shell companies and accounts ... and Maurice C ... ....
Companies. Shell PLCFollow. ABUJA, Dec 7 (Reuters) - Shell (SHEL.L) sees a $5 ...Nigerian PresidentBola Tinubu held talks with Shell's Zoe Yujnovich in a move to attract capital to Africa's top energy producer, presidential spokesperson Ajuri Ngelale said in a statement.
In a closed meeting between the ShellGroup management, led by the director of Shell’s global integrated gas and upstream, Zoe Yujnovich, Nigerian PresidentBola Tinubu highlighted the company’s significant role in the country’s oil and gas sector ...RelatedCompanyProfiles ... We are confident about the unique quality of our Company Profiles.
Namely, that he received reimbursements from his son's company ... "I think the smoking gun that people missed is Comer releasing that there was a monthly stipend from one of these shell companies of Hunter's going to Joe Biden!" Marshall relayed excitedly.
Powerful companies are 'amplifying inflation' through increased profit margins ...Energy companies — like ExxonMobil and Shell — and food and commodities corporations — like KraftHeinz — saw profits that have "far" outpaced the inflation that followed the onset of Russia's invasion of Ukraine ... The company reported earnings of $55.7 billion for 2022.
These fake companies were then used to generate e-way bills (GST related receipts for transporting consignments), officials said ... Some of the shell companies had even shown import and export business on documents with companies based in Singapore, Vietnam, Taiwan, Thailand and Philippines, the police said.