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Assessment Criteria For Petroleum Fiscal Regimes
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Book Synopsis Fiscal Regimes for Extractive Industries—Design and Implementation by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Fiscal Regimes for Extractive Industries—Design and Implementation written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2012-08-16 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Better designed and implemented fiscal regimes for oil, gas, and mining can make a substantial contribution to the revenue needs of many developing countries while ensuring an attractive return for investors, according to a new policy paper from the International Monetary Fund. Revenues from extractive industries (EIs) have major macroeconomic implications. The EIs account for over half of government revenues in many petroleum-rich countries, and for over 20 percent in mining countries. About one-third of IMF member countries find (or could find) resource revenues “macro-critical” – especially with large numbers of recent new discoveries and planned oil, gas, and mining developments. IMF policy advice and technical assistance in the field has massively expanded in recent years – driven by demand from member countries and supported by increased donor finance. The paper sets out the analytical framework underpinning, and key elements of, the country-specific advice given. Also available in Arabic: ????? ??????? ?????? ???????? ???????????: ??????? ???????? Also available in French: Régimes fiscaux des industries extractives: conception et application Also available in Spanish: Regímenes fiscales de las industrias extractivas: Diseño y aplicación
Book Synopsis Fiscal Systems for Hydrocarbons by : Silvana Tordo
Download or read book Fiscal Systems for Hydrocarbons written by Silvana Tordo and published by World Bank Publications. This book was released on 2007-01-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Petroleum Fiscal Systems and Contracts by : Muhammed Abed Mazeel
Download or read book Petroleum Fiscal Systems and Contracts written by Muhammed Abed Mazeel and published by diplom.de. This book was released on 2014-04-11 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Introduction: The petroleum fiscal system for a country is essentially the taxation structure, including royalty payments, that has been established by legislation. More broadly, the fiscal system includes all aspects of the contractual and taxation framework that governs the relationship between the host government and an international oil company. Worldwide, there are many different fiscal systems with different taxation and contractual terms. These vary from country to country and some countries use more than one system. Countries, for example, may offer concessionary system arrangements or service and production sharing agreements. Whichever system prevails, the issue for an oil company is how can it recover costs expended and how will the profit be divided. This depends upon tax regulations and the principles of the economics of the life of a field. The focus of this book is on the mechanics of the various kinds of fiscal systems and the factors that drive exploration and development economics. The emphasis is on practical aspects of petroleum taxation and industry/government relationships. There is also fertile ground for considering the philosophy of petroleum taxation which has changed the industry. Legal and operational aspects of contract/fiscal terms are also examined to provide a foundation in the dynamics of international negotiations. Both industry and government viewpoints are addressed in this book since a complete grasp of the subject requires an understanding of the aims and concerns of both sides. There are few things more discouraging for a government s national oil company than an unsuccessful licensing round. Yet prolonged, inconclusive negotiations can be equally frustrating for oil companies. This book has been written for those interested in petroleum taxation and international negotiations, and the way to carry out successful exploration and development projects. Much of the subject has evolved years ago whilst some aspects of taxation are timeless. Examples are included to give the reader a wide perspective about the implementation of fiscal systems. The terminology has changed over the years and will continue to develop. There is little standardisation of terms in the industry and the abundance of jargon can be rather daunting. The subjects covered in this book are often simple concepts wrapped up with industry and legal jargon. A glossary is provided to help with this. Much of the material provided [...]
Book Synopsis Fiscal Analysis of Resource Industries by : Ms.Oana Luca
Download or read book Fiscal Analysis of Resource Industries written by Ms.Oana Luca and published by International Monetary Fund. This book was released on 2016-02-24 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This manual introduces key concepts and methodology used by the Fiscal Affairs Department (FAD) in its fiscal analysis of resource industries (FARI) framework. Proper evaluation of fiscal regimes for extractive industries (EI) requires economic and financial analysis at the project level, and FARI is an analytical tool that allows such fiscal regime design and evaluation. The FARI framework has been primarily used in FAD’s advisory work on fiscal regime design: it supports calibration of fiscal parameters, sensitivity analysis, and international comparisons. In parallel to that, FARI has also evolved into a revenue forecasting tool, allowing IMF economists and government officials to estimate the composition and timing of expected revenue streams from the EI sector, analyze revenue management issues (including quantification of fiscal rules), and better integrate the EI sector in the country macroeconomic frameworks. Looking forward, the model presents a useful tool for revenue administration practitioners, allowing them to compare actual, realized revenues with model results in tax gap analysis.
Book Synopsis The Taxation of Petroleum and Minerals by : Philip Daniel
Download or read book The Taxation of Petroleum and Minerals written by Philip Daniel and published by Routledge. This book was released on 2010-04-15 with total page 471 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil, gas and mineral deposits are a substantial part of the wealth of many countries, not least in developing and emerging market economies. Harnessing some part of that wealth for fiscal purposes is critical for economic development: in few areas of economic life are the returns to good policy so large, or mistakes so costly.
Book Synopsis Upstream Petroleum Fiscal and Valuation Modeling in Excel by : Ken Kasriel
Download or read book Upstream Petroleum Fiscal and Valuation Modeling in Excel written by Ken Kasriel and published by John Wiley & Sons. This book was released on 2013-06-06 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please contact the authors at [email protected] for details of how to access the trial version of Crystal Ball, as well as the Excel and other files which are *not* part of the e-book version download. "This is a book no deal team should be without. It is a must for those involved in upstream oil and gas transactions, planning, budgeting, investment appraisal and portfolio management. Its step–by–step approach cuts through complexity, making it comprehensive and understandable by a wide range of users with a wide range of abilities. It can be used as a textbook, an introductory primer or as a handbook that you can dip in and out of or read cover to cover." —Michael Lynch-Bell, Senior Advisor, Oil & Gas, Ernst & Young LLP; ex-officio Chairman, UN Expert Group on Resource Classification In the upstream petroleum industry, it is the value of post–tax cashflows which matters most to companies, governments, investors, lenders, analysts, and advisors. Calculating these cashflows and understanding their “behavior,” however, is challenging, as the industry’s specialized fiscal systems can be complex, jargon–laden, and sometimes seem to be a “world of their own”. Upstream Petroleum Fiscal and Valuation Modeling in Excel: A Worked Examples Approach demystifies fiscal analysis which, unlike disciplines such as Earth sciences and engineering, can be learned from a book. Written in plain English for laymen and for experienced practitioners alike, it is a reader–friendly, clear, practical, step–by–step hands–on guide for both reference and self–paced study. The book does not catalogue the 100+ different petroleum fiscal regimes in use at the time of writing. Rather, drawing on the authors’ combined 48 years’ experience, it takes a more timeless, generic treatment, by covering the most common variants of royalties, taxation, production sharing arrangements, bonuses and abandonment funding , through a dual approach: first, showing how to model them in Excel , and then providing interactive exercises to prompt (and answer) questions that analyze impacts on cashflows. In addition to the main text, the book consists of over 120 Excel files (ranging from modular examples to full models) in Excel 2007 and 2003 formats; over 400 pages of supplementary PDF files; VBA features to enhance model functionality; and an introduction to risk modeling with exercises for the included trial version of Oracle’s Crystal Ball software. It offers both a wealth of content and models equal to or surpassing what is available from fiscal modeling courses costing several times more; and greater insights into underlying calculations than commercially available “black box” fiscal software. New US Securities and Exchange Commission (SEC) rules planned for 2013 will force petroleum companies to disclose more fiscal information on an individual country basis. This will make it more important than ever for analysts to understand how to model oil and gas terms and the potential impacts of the disclosed government payments on future oil and gas company profitability. Due to the heavy use of graphics and cross references used in this particular text, some readers might find that the printed book offers a more optimal reading experience than certain e-formats particularly with the Kindle eMobi format.
Book Synopsis Petroleum Taxation by : Carole Nakhle
Download or read book Petroleum Taxation written by Carole Nakhle and published by Routledge. This book was released on 2008-04-29 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a framework of economic analysis which both governments and the petroleum industry can draw upon in their negotiation of fiscal terms that offer a fair and just basis of wealth allocation and encourage balanced oil field development.
Book Synopsis Governance of the Petroleum Sector in an Emerging Developing Economy by : Kwaku Appiah-Adu
Download or read book Governance of the Petroleum Sector in an Emerging Developing Economy written by Kwaku Appiah-Adu and published by Routledge. This book was released on 2016-04-22 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil exploration in the developing world has been and continues to be a high profile and high risk activity attracting media coverage and stimulating much debate. In Governance of the Petroleum Sector in an Emerging Developing Economy, Professor Kwaku Appiah-Adu has assembled an edited volume that provides insight into critical aspects of this highly sensitive activity. Professor Appiah-Adu’s starting point is Ghana, where he has been closely involved in national policy-making. The book makes comparisons between that African country and others as diverse as Trinidad and Tobago, and Norway. The contributors, global experts in their respective fields, explore five critical themes and propose strategies for progress in each. You will find an in-depth analysis relating to: turning oil and gas wealth into sustainable and equitable development; entrenching transparency and stakeholder engagement; effective management of the oil and gas sector; and safeguarding security and the environment. Finally, country specific models and lessons, particularly for Ghana and other African oil producing nations, are offered. This book serves as reference for business practitioners, policy makers, scholars, students and anyone interested in gaining insight into the oil and gas sector, particularly as it pertains to Ghana and other African petroleum producing nations, with lessons drawn from the global arena and international best practice.
Book Synopsis Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform by : Ms.Daria Zakharova
Download or read book Evaluation of the Oil Fiscal Regime in Russia and Proposals for Reform written by Ms.Daria Zakharova and published by International Monetary Fund. This book was released on 2010-02-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil revenue plays a central role in Russia's economic development. Thus, the recent decline in oil production and investment, and the possible contribution of the current fiscal regime to these developments, have prompted a reassessment of the oil tax system in Russia. Some important changes have already been made, while others are underway. This paper uses a simulation model to evaluate Russia's current oil fiscal regime. Based on these simulations, the paper proposes ways to make the fiscal regime more supportive of investment, while ensuring an appropriate share of oil sector profits for the government.
Book Synopsis Balancing Petroleum Policy by : Alexander Huurdeman
Download or read book Balancing Petroleum Policy written by Alexander Huurdeman and published by World Bank Publications. This book was released on 2019-05-16 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: Petroleum discovery in a country presents its policy makers with a challenging and complex task: formulating and agreeing on policies that will shape the country’s petroleum sector and guide the translation of the newly discovered resources into equitable and sustainable economic and social growth for the nation over the long term. Balancing Petroleum Policy provides policy makers and other stakeholders with the basic sector-related knowledge they need to embark on this task. It introduces a number of topics: the petroleum value chain and pivotal factors affecting value creation, a consultative process for developing a nation’s common vision on key petroleum development objectives, design of a legislative and contractual framework, petroleum fiscal regimes and their administration, prudent fiscal management, transparency and governance, environmental and social safeguards, and economic diversification through industrial linkages. Although much of the material is relevant to designing policies for the development of the petroleum sector in general, the book gives special focus to developing countries, countries in a federal or devolved setting, and countries that have experienced or are still experiencing civil conflict. With this focus in mind, the book examines three questions—ownership, management, and revenue sharing of petroleum resources—that are central to petroleum policy in any federal or devolved state. It also offers important perspectives on how to prevent violent conflicts related to such resources. Petroleum policies tend to vary significantly from country to country, as do the objectives that such policies aim to achieve in the specific context of each particular country. Although there is no one-size-fits-all policy and there are no clear-cut answers to the many potential policy dilemmas associated with the discovery of petroleum resources, this publication may help policy makers find the right balance among the chosen objectives—and the right policy choices to achieve these objectives.
Book Synopsis International Petroleum Fiscal Systems and Production Sharing Contracts by : Daniel Johnston
Download or read book International Petroleum Fiscal Systems and Production Sharing Contracts written by Daniel Johnston and published by . This book was released on 1997 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Administering Fiscal Regimes for Extractive Industries by : Mr.Jack Calder
Download or read book Administering Fiscal Regimes for Extractive Industries written by Mr.Jack Calder and published by International Monetary Fund. This book was released on 2014-07-18 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies with practical guidelines to establish a robust legal framework, organization, and procedures for administering revenue from these industries. It discusses transparency and how to promote it in the face of increasing demands for clarity and how developing countries can strengthen their managerial and technical capacity to administer these revenues.
Book Synopsis Redesigning Petroleum Taxation by : Emre Üşenmez
Download or read book Redesigning Petroleum Taxation written by Emre Üşenmez and published by Routledge. This book was released on 2018-10-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since its inception some 40 years ago, petroleum-specific taxation in the UK has been subject to numerous modifications. Often these modifications were brought into place not only to sufficiently incentivise the investors but also to capture a fair share for the government. However, it is evident from the frequency of changes that finding the right balance between these two aims is no easy matter. Such a balance, and the consequent fiscal stability, is necessary for the long-term relationship between the parties to endure to their mutual benefit. Still, it does not take much for one or other party to feel that they are out of balance. As a consequence, one party feels that the other party is taking an undue proportion of the value generated and that they are losing out. Yet achieving that balance and fiscal stability is possible. To understand this possibility, this book first clarifies what is meant by sufficient incentivisation and fair share before developing a new fiscal system that manages this balance and stability. Such clarification yields objective criteria against which to assess not only the existing regime, but also the newly proposed regime. This approach is further complemented by the critical analysis of the fiscal legislative framework and the evaluation of the legal positions of specific contractual elements and mechanisms found within that framework. This latter analysis is important in order to reduce the legal uncertainty such elements may create, which can otherwise lead to further reactive amendments and revisions to the fiscal regime in the future.
Book Synopsis Petroleum Resource Management in Africa by : Theophilus Acheampong
Download or read book Petroleum Resource Management in Africa written by Theophilus Acheampong and published by Springer Nature. This book was released on 2022-05-03 with total page 661 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores Ghana’s newfound oil wealth and how the revenues it generates can be used to produce inclusive economic growth and development. Comparisons are made with neighboring countries, including Nigeria, Angola, and Equatorial Guinea, to highlight how petroleum resources can create jobs, increase research and development skills, and generate government revenue to invest in local services and infrastructure. The impact of global developments, such as the 2014-16 oil slump and innovation within the industry, are also covered. Petroleum Resource Management in Africa to provide policy suggestions and an operational framework for other petroleum producing countries. It will be of interest to academics and policymakers interested in resource and development economics.
Book Synopsis Petroleum Exploration and Production Rights by : Silvana Tordo
Download or read book Petroleum Exploration and Production Rights written by Silvana Tordo and published by World Bank Publications. This book was released on 2010 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Republic of Mozambique by : International Monetary Fund
Download or read book Republic of Mozambique written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-01-14 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The strong macroeconomic performance and the implementation of prudent fiscal and monetary policies and a flexible exchange rate regime have helped Mozambique to perform well under the Policy Support Instrument (PSI). Executive Directors advised to maintain macroeconomic stability and accelerate structural reforms to sustain rapid growth. Directors stressed the need for fiscal transparency and adopting regulations to the Mining and Petroleum Fiscal Regime laws. Directors appreciated the principles of the Extractive Industries Transparency Initiative, welcomed its monetary policy stance, and encouraged authorities to embark on revenue efforts to achieve the MDGs.
Book Synopsis The Future of Petroleum in Lebanon by : Sami Atallah
Download or read book The Future of Petroleum in Lebanon written by Sami Atallah and published by Bloomsbury Publishing. This book was released on 2019-09-19 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the future of the oil and gas sector in Lebanon? Following the recent discovery of these valuable resources in the southern Mediterranean, including in the Cypriot and Israeli offshore reserves, the possibility of Lebanon also becoming a petroleum-producing country has been raised. This collection of essays addresses the major challenges and opportunities that accompany the country's hope to join the petroleum club. Covering the key policy issues - from Lebanon's susceptibility to the oil curse, to the environmental risks of production - this book brings together expert analysis to offer answers at the institutional level. Of central importance, the contributors argue, is that for Lebanon to benefit from the discovery of petroleum, it must first reform its institutions with the full support of the voting public and civil society. Combining rigorous quantitative and qualitative research, the Lebanese Center for Policy Studies has produced here an essential book that puts petroleum in Lebanon, and the important questions that come with it, within a global perspective.
