SHELL TUNISIA UPSTREAM LIMITED
Formerly part of the BG Group, this Shell subsidiary is engaged in the upstream extraction of crude petroleum in Tunisia.
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Cash
£7.6m
USD 10,231,000
lowest in 3 filed years
Net assets
£730m
USD 982,482,000
lowest in 3 filed years
Employees
5
Average over period
Profit before tax
£156m
USD 210,023,000
Period ending 2025-06-30
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-06-30
| Metric | Trend | 2023-12-31 | 2024-06-30 | 2025-06-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £48,914,158 | £23,486,436 | £34,270,531 | — | |
| Operating profit | -£614,641 | £10,146,414 | -£91,810,479 | — | |
| Profit before tax | £9,994,797 | £3,160,164 | £156,092,902 | — | |
| Net profit | £7,162,393 | £1,764,400 | £147,980,676 | — | |
| Cash | £279,874,396 | £282,990,710 | £7,603,865 | — | |
| Total assets less current liabilities | £1,090,031,215 | £1,097,041,249 | £1,108,512,821 | — | |
| Net assets | £743,030,100 | £744,794,500 | £730,198,439 | — | |
| Equity | £743,030,100 | £744,794,500 | £730,198,439 | — | |
| Average employees | 15 | 5 | 5 | — | |
| Wages | £3,900,409 | £561,130 | £3,278,335 | — | |
| Directors' remuneration | — | £0 | £0 | — |
Figures converted to GBP from USD at 0.743 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 12 months versus 6 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-06-30 | 2025-06-30 |
|---|---|---|---|---|
| Operating margin | -1.3% | 43.2% | — | |
| Net margin | 14.6% | 7.5% | — | |
| Return on capital employed | -0.1% | 0.9% | -8.3% | |
| Gearing (liabilities / total assets) | — | 54.6% | 48.6% | |
| Current ratio | 2.05x | 2.11x | 3.76x | |
| Interest cover | -0.06x | 1.32x | -8.65x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- SHELL TUNISIA UPSTREAM LIMITED 2016-05-10 → present
- BG TUNISIA LIMITED 2005-02-22 → 2016-05-10
- BRITISH GAS TUNISIA LIMITED 1992-09-21 → 2005-02-22
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The going concern assessment confirms that Shell Tunisia Upstream (STU) has sufficient cash resources to meet its obligations as they fall due and to maintain its presence in Tunisia throughout the going concern period.”
Group structure
- SHELL TUNISIA UPSTREAM LIMITED · parent
- Shell Hasdrubal Limited 100%
- Shell Tunisia LPG, S.A. 99.99%
- Tunisian Processing, S.A. 99.99%
Significant events
- “The full tax audit of Shell Tunisia Upstream for the years 2019-2022 has been ongoing since May 2023. A Conciliation Committee report was received in December 2025; while largely favorable to Shell Tunisia Upstream, it is non-binding for the tax authorities. In March 2026, the tax authorities have issued their final tax assessment with no changes from the initial audit report. In May 2026, the Company formally lodged an objection before the competent court in relation to the matter described above.”
- “As of June 2026 the entity is claimant in ICC arbitration proceedings against the Government of Tunisia. The entity is also a claimant against the Government of Tunisia under the UK-Tunisia Bilateral Investment Treaty but there are no formal legal proceedings afoot.”
- “The conflict in the Middle East has led to significant and ongoing disruption across global energy markets, creating uncertainty around supply, pricing and operational stability. Stakeholders are increasingly focused on potential impacts on people, operations, contractual performance and the availability of key products.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 77 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PECTEN SECRETARIES LIMITED | Corporate Secretary | 2022-11-01 | — | — |
| ABU AITAH, Hind | Director | 2023-01-01 | Jun 1971 | Dutch |
| SIDDIQUI, Muhammad Hisham | Director | 2026-03-01 | Feb 1978 | Pakistani |
| SUNDARAM, Manavala Kalyana | Director | 2026-03-01 | May 1972 | British |
Show 77 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARRY, Chloe Silvana | Secretary | 2013-07-22 | 2016-07-31 |
| DUNN, Rebecca Louise | Secretary | 2010-09-22 | 2016-05-31 |
| ENNETT, Cayley Louise | Secretary | 2015-10-01 | 2016-07-31 |
| GRIFFIN, John Edward Henry | Secretary | — | 2003-04-22 |
| INMAN, Carol Susan | Secretary | 2003-04-22 | 2013-07-22 |
| MARKHAM, Una | Secretary | 1996-10-03 | 2001-09-07 |
| MCCULLOCH, Alan William | Secretary | 2007-09-14 | 2012-04-27 |
| MOORE, Paul Anthony | Secretary | 2005-09-26 | 2007-09-14 |
| THOMAS, Luke | Secretary | 1998-08-25 | 1999-01-14 |
| SHELL CORPORATE SECRETARY LIMITED | Corporate Secretary | 2016-07-31 | 2022-11-01 |
| ALEXANDER, Michael Richard | Director | 1993-08-03 | 1993-12-31 |
| ATALLAH, Ahmad | Director | 2019-04-22 | 2023-10-20 |
| BEALL, Arthur Oren, Dr | Director | — | 1993-10-31 |
| BERGET, Jorn Arild | Director | 2005-02-14 | 2010-04-22 |
| BLAND, Charles Riviere | Director | 2005-03-22 | 2009-09-04 |
| BRADSHAW, Ian Jonathan | Director | 2011-11-10 | 2014-12-19 |
| BRAY, Ken, Dr | Director | — | 1993-08-03 |
| BROCK, Peter John | Director | 2010-04-22 | 2011-10-24 |
| BROWN, Malcolm Archibald Halliday | Director | 1996-03-01 | 1999-11-01 |
| BURRARD-LUCAS, Stephen Charles | Director | 1994-07-25 | 1998-11-30 |
| CHAPMAN, Frank Joseph | Director | 1996-11-26 | 2004-12-30 |
| COE, Roger Patrick | Director | 2015-01-01 | 2016-05-09 |
| COE, Roger Patrick | Director | 2005-03-22 | 2009-12-18 |
| COLLINGWOOD, Jonathan Mark | Director | 2012-04-04 | 2014-10-03 |
| COLLINS, Paul Anthony, Dr | Director | — | 1993-08-03 |
| DALTON, Howard William | Director | — | 1995-12-31 |
| DHOUIB, Mohamed | Director | 2011-06-01 | 2016-07-01 |
| DOUGHTY, Donald Glenwood | Director | 1997-10-15 | 2000-08-31 |
| ELLIS, Paul William | Director | 1993-09-23 | 1996-03-01 |
| FISHER, Alan Derek | Director | 2004-07-14 | 2008-09-29 |
| FLOWERS, John Peter | Director | 2007-10-31 | 2008-09-29 |
| FORBES, Timothy John | Director | 1995-10-24 | 1999-11-01 |
| FREEMAN, David Peter, Dr | Director | 2014-10-03 | 2016-07-31 |
| FRIEDLANDER, Colin David | Director | 1993-08-03 | 1997-06-02 |
| FRIEDRICH, William Michael | Director | 1999-11-01 | 2005-03-17 |
| FYSH, Stuart Alfred, Dr | Director | 2004-07-14 | 2008-11-24 |
| GALLOWAY, Ian Edward | Director | 2008-09-29 | 2011-10-14 |
| HAWKER, Cecil Robert | Director | 1993-09-23 | 1996-03-31 |
| HAYNES, Peter David Morley | Director | 2002-01-01 | 2002-11-04 |
| HEWITT, Ian | Director | 2008-09-29 | 2010-08-31 |
| HOPKINSON, Simon Christopher | Director | 2010-11-01 | 2011-04-08 |
| HOUSTON, Martin Joseph | Director | 1999-11-01 | 2004-07-14 |
| ISKANDER, Sami Monir Amin | Director | 2010-04-22 | 2010-11-01 |
| JUNGLES, Pierre Jean Marie, Dr | Director | 1995-12-19 | 1996-09-24 |
| KACEM, Khaled | Director | 2016-05-09 | 2019-04-22 |
| KARAME, Raed Hamade | Director | 2016-07-01 | 2019-09-30 |
| LENK, Karl Eugene | Director | 2022-06-01 | 2023-11-16 |
| LIDDELL, Richard Thomas | Director | 1997-09-04 | 1999-06-01 |
| MARTEN, Stephen | Director | 2007-10-31 | 2010-05-13 |
| MARTIN-DAVIS, Andrew | Director | 2015-03-02 | 2016-05-31 |
| MCMANUS, David | Director | 2000-05-23 | 2004-09-30 |
| METWALLY, Sherene | Director | 2019-10-01 | 2023-01-01 |
| MURPHY, Brian Peter | Director | — | 1994-03-18 |
| NIJSSE, Erwin | Director | 2016-05-09 | 2017-10-01 |
| NUGENT, Paul Michael | Director | 2023-11-23 | 2026-03-01 |
| NUGENT, Paul Michael | Director | 2017-09-14 | 2018-10-05 |
| O'SHEA, Christopher Michael | Director | 2010-05-11 | 2012-10-10 |
| PERKS, Ian Anthony | Director | 2008-09-29 | 2011-10-17 |
| PRESTON, David | Director | 1996-03-31 | 1999-08-27 |
| RAHMAN, Rozimi Bin Abdul | Director | 2018-11-14 | 2022-06-01 |
| REED, Geoffrey Edward | Director | 1995-11-21 | 1996-03-01 |
| REES, Lovat Michael Graham | Director | 2011-11-10 | 2014-12-31 |
| ROBERTS, David E | Director | 2005-03-22 | 2006-03-10 |
| SCHWARZ, Peter Heinz | Director | 1996-03-01 | 1998-12-31 |
| SEATON, James Gareth | Director | 2015-01-27 | 2016-10-31 |
| SMITH, James Edward | Director | 2015-02-02 | 2016-08-31 |
| SURRALL, Stephen John | Director | 2002-11-04 | 2004-07-14 |
| SUTCLIFFE, Sean George Cronin | Director | 1998-06-30 | 2001-01-01 |
| TAYLOR, William Emil | Director | 2011-06-01 | 2013-12-31 |
| THORNLEY, Brian Ralph | Director | 1995-10-24 | 1999-11-01 |
| TOUGH, Mark Kenneth | Director | 2017-09-14 | 2026-03-01 |
| TRAFFORD, Edward Le Marchant | Director | 1998-09-29 | 2000-08-31 |
| WALSHE, Edward Thomas, Dr | Director | 1996-10-03 | 1999-11-01 |
| WALSHE, Edward Thomas | Director | 1994-03-01 | 1996-03-04 |
| WEBB, Adrian Rawdon | Director | — | 1996-03-04 |
| WOOLLACOTT, Paul Nicholas | Director | 1996-07-30 | 1999-05-10 |
| WORMLEY, Jon Clarke | Director | 1998-12-01 | 2004-12-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bg General Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 296 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-09 | AA | accounts | Accounts with accounts type full | |
| 2026-06-05 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2026-06-03 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-03-03 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-31 | AA | accounts | Accounts with accounts type full | |
| 2025-11-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-26 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-02-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-17 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-12-17 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-17 | CAP-SS | insolvency | Legacy | |
| 2024-12-17 | SH20 | capital | Legacy | |
| 2024-09-27 | AA | accounts | Accounts with accounts type full | |
| 2024-02-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-15 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-28 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-28 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 2
- Officers appointed
- 2
- Officers resigned
- 2
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.