The Distortionary Effect of Production Sharing Contract in Upstream Petroleum Industry
Author : Fazel Moridifarimani
Publisher :
Page : pages
File Size : 44,22 MB
Release : 2018
Category :
ISBN :
Author : Fazel Moridifarimani
Publisher :
Page : pages
File Size : 44,22 MB
Release : 2018
Category :
ISBN :
Author : Thiago Neves de Campos
Publisher :
Page : 119 pages
File Size : 28,11 MB
Release : 2013
Category : Fiscal policy
ISBN :
Author : Tade Oyewunmi
Publisher :
Page : 26 pages
File Size : 19,1 MB
Release : 2016
Category :
ISBN :
OPEC's Monthly Oil Market Report (May, 2011) depicts that the price of OPEC's Reference Basket increased in April, 2011 by about $8.25 compared to March, 2011 and by $35.76 from a year earlier. The Nymex WTI and ICE Brent contracts also witnessed their highest prices since the global financial crisis of 2008. Oil producers like Nigeria are not just on the verge of a national petroleum industry 'legal revolution' in its quest to ensure maximum benefits accrue from oil and gas resource exploitation, but as overtime found itself in politically and economically unacceptable position as parties to Exploration and Production arrangements with investing Oil Companies.Russia, Venezuela, Bolivia etc. have also been earmarked as producers that consistently engage in petroleum contract reviews and nationalisation to ensure petroleum arrangements yield maximum benefits for the State. Following this background and coupled with the unique attributes of Production Sharing Contracts as a preferred option for arranging upstream petroleum operations, this paper essentially seeks to examine the assertion that- there is no absolute 'contractual security' for contracting parties. By highlighting relevant problems and issues, especially in countries like Nigeria, it points out that contractual instruments like stabilization, renegotiation and adaptation clauses can at best guide and not freeze-up relationship and cooperation inter vivos, towards contractual efficiency. This paper examines the use and legal implications of stabilisation and renegotiation clauses in production sharing contracts (PSCs) in the petroleum industry, especially as a means of guaranteeing contractual security. It identifies relevant issues and comments on problems arising from the use of these clauses in guiding the relationships of parties, especially as contractual instruments for risk management.
Author : Karl Franz Dörner
Publisher : Springer
Page : 679 pages
File Size : 15,35 MB
Release : 2017-03-07
Category : Business & Economics
ISBN : 3319429027
This book gathers a selection of refereed papers presented at the “International Conference on Operations Research OR2015,” which was held at the University of Vienna, Austria, September 1-4, 2015. Over 900 scientists and students from 50 countries attended this conference and presented more than 600 papers in parallel topic streams as well as special award sessions. Though the guiding theme of the conference was “Optimal Decision and Big Data,” this volume also includes papers addressing practically all aspects of modern Operations Research.
Author : Daniel Johnston
Publisher :
Page : 266 pages
File Size : 20,95 MB
Release : 1997
Category : Oil and gas leases
ISBN :
Author : Silvana Tordo
Publisher : World Bank Publications
Page : 86 pages
File Size : 22,37 MB
Release : 2007-01-01
Category : Technology & Engineering
ISBN : 082137267X
Although host governments and investors may share one common objective - the desire for projects to generate high levels off revenue - their other goals are not entirely aligned. Host governments aim to maximize rent for their country over time, while achieving other development and socioeconomic objectives. Investors aim to ensure that the return on investment is consistent with the risk associated with the project, and with their corporations' strategic objectives. To reconcile these often conflicting objectives, more and more countries rely on transparent institutional arrangements and flexible, nuetral fiscal regimes. This paper examines the key elements of the legal and fiscal frameworks utilized in the petroleum sector and aims to outline desirable features that should be considered in the design of fiscal policy with the objective of optimizing the host government's benefits, taking into account the effect this would have on the private sector's investment.
Author : Ms. Alpa Shah
Publisher : International Monetary Fund
Page : 36 pages
File Size : 13,49 MB
Release : 2021-10-18
Category : Business & Economics
ISBN : 1513599666
Mexico has large extractive industries and it traditionally has raised sizable fiscal revenues from the oil and gas sector. A confluence of factors—elevated commodity prices, financial challenges of the state-owned oil company Pemex, and revenue needs for financing social and public investment spending over the medium term—suggest that a review of Mexico’s taxation regimes for natural resources would be opportune, against the backdrop of a comprehensive approach to tackling Mexico’s challenges. This paper identifies opportunities for redesigning mining taxation to increase somewhat the revenue intake while maintaining the favorable investment profile of the sector. It also discusses recent reforms to the oil and gas fiscal regime and future reform considerations, with attention to the attractiveness of investment on commercial terms—an issue that should be placed in the context of an overall reform of Pemex’s business strategy and possibly of the energy sector more generally.
Author : Silvana Tordo
Publisher : World Bank Publications
Page : 128 pages
File Size : 34,61 MB
Release : 2010
Category : Business & Economics
ISBN :
The paper aims to provide practical information to policy makers on the advantages and disadvantages of various practices used by petroleum producing countries to allocate exploration, development, and production rights.
Author : Todd Moss
Publisher : CGD Books
Page : 190 pages
File Size : 31,79 MB
Release : 2015-06-10
Category : Business & Economics
ISBN : 1933286695
Oil to Cash explores one option to help countries with new oil revenue avoid the so-called resource curse: just give the money directly to citizens. A universal, transparent, and regular cash transfer would not only provide a concrete benefit to regular people, but would also create powerful incentives for citizens to hold their government accountable. Oil to Cash details how and where this idea could work and how policymakers can learn from the experiences with cash transfers in places like Mexico, Mongolia, and Alaska.
Author : Silvana Tordo
Publisher : World Bank Publications
Page : 197 pages
File Size : 28,8 MB
Release : 2013-07-22
Category : Business & Economics
ISBN : 0821399349
A number of countries have recently discovered and are developing oil and gas reserves. Policy makers in such countries are anxious to obtain the greatest benefits for their economies from the extraction of these exhaustible resources by designing appropriate policies to achieve desired goals. One important theme of such policies is the so-called local content created by the sector—the extent to which the output of the extractive industry sector generates further benefits to the economy beyond the direct contribution of its value-added, through its links to other sectors. While local content policies have the potential to stimulate broad-based economic development, their application in petroleum-rich countries has achieved mixed results. This paper describes the policies and practices meant to foster the development of economic linkages from the petroleum sector, as adopted by a number of petroleum-producing countries both in and outside the Organisation for Economic Co-operation and Development. Examples of policy objectives, implementation tools, and reporting metrics are provided to derive lessons of wider applicability. The paper presents various conclusions for policy makers about the design of local content policies.