v3.25.2
Joint ventures and associates
12 Months Ended
Dec. 31, 2023
Interests In Other Entities [Abstract]  
Joint Ventures and Associates Joint ventures and associates
Shell share of comprehensive income of joint ventures and associates
$ million
202320222021
Joint
ventures
AssociatesTotalJoint
ventures
AssociatesTotalJoint
ventures
AssociatesTotal
Income for the period1,6192,1063,725

2,5891,383
[A]
3,9721,9552,1424,097
Other comprehensive
(loss)/income for the period
(183)(183)2121(106)(106)
Comprehensive income for the period1,4362,1063,5422,6101,3833,9931,8492,1423,991
[A]Includes an impairment charge of $1,614 million related to Sakhalin-2. (See Note 14).
Carrying amount of interests in joint ventures and associates
$ million
Dec 31, 2023Dec 31, 2022
Joint
ventures
AssociatesTotalJoint
ventures
AssociatesTotal
Net assets17,3827,07524,45717,0566,80823,864
Transactions with joint ventures and associates [A]
$ million
202320222021
Sales and charges to joint ventures and associates10,22312,2308,509
Purchases and charges from joint ventures and associates15,08422,28613,584
[A]Includes 25% (2022: 29%) of sales and 19% (2022: 16%) purchases in transactions with one joint venture operating in the oil trading business.
These transactions principally comprise sales and purchases of goods and services in the ordinary course of business. Related balances outstanding at December 31, 2023, and 2022, are presented in Notes 15 and 19.
Other arrangements in respect of joint ventures and associates
$ million
Dec 31, 2023Dec 31, 2022
Commitments to make purchases from joint ventures and associates [A]1,3971,234
Commitments to provide debt or equity funding to joint ventures and associates405567
[A]Commitments to make purchases from joint ventures and associates mainly relate to contracts associated with LNG processing fees and transportation capacity. Shell has other purchase obligations related to joint ventures and associates that are not fixed or determinable and are principally intended to be resold in a short period of time through sales agreements with third parties. These include long-term LNG and natural gas purchase commitments and commitments to purchase refined products or crude oil at market prices.