Iraq Constitution Petroleum Resources Legislation And International Policy

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Iraq Constitution - Petroleum Resources Legislation and International Policy

Author : Muhammed Abed Mazeel
Publisher : diplom.de
ISBN 13 : 3836649411
Total Pages : 225 pages
Book Rating : 4.8/5 (366 download)

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Book Synopsis Iraq Constitution - Petroleum Resources Legislation and International Policy by : Muhammed Abed Mazeel

Download or read book Iraq Constitution - Petroleum Resources Legislation and International Policy written by Muhammed Abed Mazeel and published by diplom.de. This book was released on 2014-04-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Introduction: This book covers policy proposals and interim contracts, assesses the positions of various Iraqi political actors and examines the potential significance for international foreign policy goals in Iraq. Despite a lack of progress in reaching agreements on the hydro-carbon sector and revenue sharing legislation to set new conditions for the management of the country s significant oil and gas resources, development in Iraq s oil and gas sector is moving forward. The passage of the oil and gas sector framework and revenue sharing legislation will be seen as significant milestones by International governments and International Oil Companies (IOC ́s). This would provide evidence of the Iraqi government s dedication to promoting political reconciliation and providing a solid foundation for long term economic development in Iraq. Interim revenue sharing mechanisms have been introduced due to the lack of new legislation. Additionally, both the Federal Government (the Federal Oil Ministry-MoO) and the Kurdistan Regional Government (KRG) (the Regional Ministry of Natural Resources and Energy) have made oil and gas development deals with foreign firms. The MoO is working with existing regulation from the previous political and administrational regime, while the Regional Ministry of Resource and Energy Kurdistan-Iraq has designed its own laws and regulations, which the Federal Government has not yet recognized. There is wide recognition among Iraqis of the importance of oil and gas revenue for the Iraqi economy. Most groups see the need for new legal and policy guidelines for the development of the country s oil and natural gas resources. However, Iraq s Council of Rrepresentatives (parliament) has not yet considered the proposed legislation due to ongoing political discord and general political instability. There are strong differences on key issues between Iraqi critics and supporters of various proposed solutions. These include the appropriate role and powers of federal and regional authorities in regulating oil and gas development; the conditions and degree of potential foreign participation in the oil and gas sectors; and proposed formulas and mechanisms for equitably sharing oil and gas revenue. Simultaneously, there are strong disagreements on related discussions about the administrative status of the city of Kirkuk and proposed amendments to articles of Iraq s constitution that outline federal and regional oil and gas [...]

Iraq

Author : Christopher M. Blanchard
Publisher : DIANE Publishing
ISBN 13 : 1437922066
Total Pages : 33 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Iraq by : Christopher M. Blanchard

Download or read book Iraq written by Christopher M. Blanchard and published by DIANE Publishing. This book was released on 2010-06 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development in Iraq¿s oil and natural gas sector is proceeding, in spite of continuing delays in agreeing to hydrocarbon sector and revenue sharing legislation to define new terms for the mgmt. of the country¿s significant oil and natural gas resources. Both the Bush Admin. and the 110th Congress considered the passage of oil and gas sector framework and revenue sharing legislation as important benchmarks that would indicate the Iraqi government¿s commitment to promoting political reconciliation and providing a solid foundation for long term economic development in Iraq. This report reviews policy proposals and interim contracts, analyzes the positions of various Iraqi political actors, and discusses potential implications for U.S. foreign policy goals in Iraq. Illus.

The Legal Dimensions of Oil and Gas in Iraq

Author : Rex J. Zedalis
Publisher : Cambridge University Press
ISBN 13 : 1139480383
Total Pages : 361 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis The Legal Dimensions of Oil and Gas in Iraq by : Rex J. Zedalis

Download or read book The Legal Dimensions of Oil and Gas in Iraq written by Rex J. Zedalis and published by Cambridge University Press. This book was released on 2009-09-14 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is the first and only comprehensive examination of current and future legal principles designed to govern oil and gas activity in Iraq. This study provides a thorough-going review of every conceivable angle on Iraqi oil and gas law, from relevant provisions of the Iraqi Constitution of 2005; to legislative measures comprising the oil and gas framework law, the revenue sharing law, and the laws to reconstitute the Iraq National Oil Company and reorganize the Ministry of Oil; to the Kurdistan Regional Government's 2007 Oil and Gas Law No. (22) and its accompanying Model Production Sharing Contract; and to the apposite rules of international law distilled from both controlling UN resolutions addressing Iraq and more generally applicable principles of international law. This text is essential to the reading collection of every practitioner, business executive, government official, academic, public policy maven, and individual citizen with an interest in the details and controversial aspects of Iraqi energy law.

Iraq’s Oil and Gas Industry

Author : Janan Al-Asady
Publisher : Routledge
ISBN 13 : 0429623461
Total Pages : 237 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Iraq’s Oil and Gas Industry by : Janan Al-Asady

Download or read book Iraq’s Oil and Gas Industry written by Janan Al-Asady and published by Routledge. This book was released on 2019-06-11 with total page 237 pages. Available in PDF, EPUB and Kindle. Book excerpt: Oil, an integral part of the contemporary global economy, is considered a driving force behind the 2003 invasion of Iraq. Hydrocarbon reserves in Iraq have a significant role to play in global supply, with oil revenue accounting for more than 90% of Iraqi government income. This book provides a comprehensive insight into the key foundations of Iraq’s oil industry and assists in the development of a core area of domestic law to promote economic recovery following years of instability. It addresses the development of oil legislation and the formation of contracts since the US and allied occupation of Iraq in 2003. Legislation is assessed against the framework of the constitution along with the different types of oil agreements and their terms. The book looks at three main aspects of oil legislation, beginning with the validity and interpretation of the constitution as any subsequent legislation governing oil policy will be based upon this. The work then discusses whether the draft oil and gas law of 2007 and any subsequent oil legislation, including the law implemented by the Kurdish Regional Government in 2007, is valid. Finally, the book analyses the legitimacy of oil agreements entered into by the central and regional governments and whether these contain terms beneficial to the state and contracting party. Providing an in-depth analysis of the origins and development of the legal framework of the oil industry in Iraq, the book acts as both a reference source and a springboard for future research across a range of legal, economic and policy perspectives. It will appeal to practitioners and academics working in energy law and international investment law, as well as policy-makers, legal advisors and those working in governments and energy companies.

Iraq: Oil and Gas Legislation, Revenue Sharing, and U.S. Policy

Author :
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (155 download)

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Book Synopsis Iraq: Oil and Gas Legislation, Revenue Sharing, and U.S. Policy by :

Download or read book Iraq: Oil and Gas Legislation, Revenue Sharing, and U.S. Policy written by and published by . This book was released on 2007 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Iraqi leaders continue to debate a package of hydrocarbon sector and revenue sharing legislation that would define the terms for the future management and development of the country's significant oil and natural gas resources. A group of four proposed laws includes an oil and gas sector framework law and three supporting laws that would outline revenue sharing, restructure Iraq's Ministry of Oil, and create an Iraqi National Oil Company. Both the Bush Administration and Congress consider the passage of oil and gas sector framework and revenue sharing legislation as important benchmarks that would indicate the current Iraqi government's commitment to promoting political reconciliation and long term economic development in Iraq. In the absence of new legislation, revenue sharing mechanisms have been implemented and both the Iraqi national government and the Kurdistan Regional Government have signed oil and natural gas development contracts with foreign firms. The central importance of oil and gas revenue for the Iraqi economy is widely recognized by Iraqis, and most groups accept the need to create new legal and policy guidelines for the development of the country's oil and natural gas. However, Iraq's Council of Representatives (parliament) has not taken action to consider the proposed legislation to date because of ongoing political disputes. Iraqi critics and supporters of the proposed legislation differ strongly on a number of key issues, including the proper role and powers of federal and regional authorities in regulating oil and gas development; the terms and extent of potential foreign participation in the oil and gas sectors; and proposed formulas and mechanisms for equitably sharing oil and gas revenue. Concurrent, related discussions about the city of Kirkuk and proposed amendments to articles of Iraq's constitution that outline federal and regional oil and gas rights also are highly contentious.

Restructuring and Re-organization of the Iraqi Oil Ministry and State-owned Oil Companies for Maximum Economic Growth and National Development

Download Restructuring and Re-organization of the Iraqi Oil Ministry and State-owned Oil Companies for Maximum Economic Growth and National Development PDF Online Free

Author : Muhammed Abed Mazeel
Publisher : disserta Verlag
ISBN 13 : 3954250047
Total Pages : 97 pages
Book Rating : 4.9/5 (542 download)

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Book Synopsis Restructuring and Re-organization of the Iraqi Oil Ministry and State-owned Oil Companies for Maximum Economic Growth and National Development by : Muhammed Abed Mazeel

Download or read book Restructuring and Re-organization of the Iraqi Oil Ministry and State-owned Oil Companies for Maximum Economic Growth and National Development written by Muhammed Abed Mazeel and published by disserta Verlag. This book was released on 2012 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first steps towards restructuring and reorganizing the institutions and legislation of the Iraqi oil and gas industry must include taking ownership of resources, allocating acreages to Iraqi Kurdistan and neighbour states, improving the transparency as well as governmental participation and fiscal principles. It is important to provide an institutional framework that governs the operations of the industry, including its functions, structure, powers and funding. Operations in the upstream of the industry comprise licenses, leases and contracts. Other considerations covered are award processes, right of governmental participation, marginal fields, indigenous companies, termination and revocation of both licenses and leases, matters on fees, rents and royalties and, finally, provisions on Associated Natural Gas. The legislation in the downstream sector focuses on licensing, refining, marketing and pricing of oil products, transport logistics and facility management companies, pipelines and depots. The operating stocks and Iraq strategic stocks are also necessary. The needs of the downstream natural gas include both technical and commercial licensing regulations and conditions, as the network, gas supply licenses, transportation pipelines licenses and the whole sale market in addition to the possibility of third party access, customer protection, the pricing regime, public service obligations, competition and market regulation. The legislation is an amendment to the existing Iraqi Technical Service Contracts (TSC) and Production Sharing Contracts Agreements (PSC) in Iraqi Kurdistan based on the need to create a new fiscal framework that takes various compelling issues into consideration. It needs to capture the full gas value chain for taxation purposes in order to develop a fiscal regime for gas removed from oil and to create thereby a level playing field for all investors in gas and promoting the effective management of costs across the industry, which in turn will maximize the government's take. Other considerations revolve around the requirement to develop a fiscal system, which responds to changes in price, and to clarify inconsistencies or conflicts in the application of fiscal terms for oil and gas; and, finally, to develop a fiscal rule of general application based on a body of expected fiscal laws. Quality, health, safety and environment are missing elements in Iraq. During the restructuring and reorganization of the institutions the QHSE should take on a major role in working with the aforementioned departments in the Oil Ministry and the operating companies. The obligations of the state and international oil companies towards the state environmental regulations and public rules must be upheld according to the licensees, lessees and contractors considering matters of abandonment, decommissioning and disposal and their funding. The various actors in the oil and gas production are obligated towards various communities in the oil-producing region of the country, with supporting community development, providing employment opportunities, compensation, infrastructure, protection and management of the environment as essential components. The Ministry of Oil remains a civil service outfit that is ill-equipped to conceive and enact the required policies for such a complex and sophisticated industry. Hence, there is a strong need for principal and basic interaction between Federal Oil Ministry, existing directorial and state oil companies, Kurdistan Ministry of Energy and Natural Resources, and private sector operatives. This applies also to the reorganization and restructuring of Federal Oil Ministry, existing directorial and state oil companies, Iraqi National Oil Company and Iraqi National Gas Company.

Systems for Collecting and Preparation of Oil and Gas and Criteria for Their Selection

Author : Muhammed Abed Mazeel
Publisher : Diplomarbeiten Agentur
ISBN 13 : 3838612329
Total Pages : 110 pages
Book Rating : 4.8/5 (386 download)

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Book Synopsis Systems for Collecting and Preparation of Oil and Gas and Criteria for Their Selection by : Muhammed Abed Mazeel

Download or read book Systems for Collecting and Preparation of Oil and Gas and Criteria for Their Selection written by Muhammed Abed Mazeel and published by Diplomarbeiten Agentur. This book was released on 2010 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The production of oil is a complex technological procedure consisting of several equally important segments. One of the most important phases is the collection and preparation of oil, which affects the process of production from technical as well as from economical aspects. The choice and method of designing systems for oil collection and preparation is a very complex task that depends on the number of concrete parameters; this carries with it, above all, the difficulty in finding technology that will enable optimal work of wells as well as finding the continually and quality functioning of the entire production process. It is important to mention that each well is a case in itself; there are no broad or typical solutions for oil collection and preparation. Each production project on a field is involves individual solutions dependent upon situation-specific conditions. The most important factors in finding the best solutions are experience and knowledge of problem-solving methods in similar fields worldwide. As this is the case, this thesis is based on analysis of a selection of different fields from around the worlds that, combined, represent one system of oil collection and preparation and should satisfy even the strictest criteria. The task is: At oil-gas field (X), 27 wells are drilled and prepared in the development phase for oil and gas production. The average production of peripheral wells involves around 20 m3/24h of oil, 10 m3/24h water, 800 m3 s/24h gas; while central wells involve the production of 35 m3/24h oil 1000 m3 s/24h of gas. Pressure at the well head of the well is 30 [bar], and the temperature is 30 C. The shape of the field and layout of wells are shown in diagram (1). The following are needed to define the design: 1) optimal scheme for collection of production fluids, 2) optimal technological scheme for collective station with basic elements, 3) basic parameters of all elements for collective station. When defining the collection scheme, it

Petroleum Fiscal Systems and Contracts

Author : Muhammed Mazeel
Publisher : Diplomica Verlag
ISBN 13 : 3836688522
Total Pages : 453 pages
Book Rating : 4.8/5 (366 download)

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Book Synopsis Petroleum Fiscal Systems and Contracts by : Muhammed Mazeel

Download or read book Petroleum Fiscal Systems and Contracts written by Muhammed Mazeel and published by Diplomica Verlag. This book was released on 2010-06 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 it can 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. Exam

The Iraqi Federation

Author : Farah Shakir
Publisher : Routledge
ISBN 13 : 131547459X
Total Pages : 210 pages
Book Rating : 4.3/5 (154 download)

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Book Synopsis The Iraqi Federation by : Farah Shakir

Download or read book The Iraqi Federation written by Farah Shakir and published by Routledge. This book was released on 2017-02-17 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political instability has characterised the modern history of Iraq, which has proven itself as a complex state to govern. However, the creation of a federal system in 2005 offers the potential for change and a deviation from a past characterised by authoritarian government, brutality and war. The Iraqi Federation explores why and how Iraq became a federal state, and analyses how the process of formation impacts on the operation of the Iraqi federal system. It argues that the different approaches taken by various federal theorists in the past, particularly William H. Riker’s bargain theory, are insufficient to explain the formation of the Iraqi federation completely. The process of the establishment of a federal Iraq must be understood in the context of its unique history and cultural specificity, as well as in the context of the other new federal models that have appeared since the end of the Cold War, including Belgium, the Russian Federation, Ethiopia, Bosnia and Herzegovina and Nigeria. Drawing on interviews with contemporary political players in Iraq, this book helps to deepen our understanding of how one of the newest federal states operates in a practical sense. By linking the new federal models to the classic federal theory, it also provides a unique contribution to theories on federal state formation. It will therefore be of great interest to students and scholars of Middle East Politics, as well as those studying Federalism.

Iraq Energy Policy, Laws and Regulations Handbook: Strategic Information and Regulations

Author : IBP USA
Publisher : Lulu.com
ISBN 13 : 1438724179
Total Pages : 287 pages
Book Rating : 4.4/5 (387 download)

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Book Synopsis Iraq Energy Policy, Laws and Regulations Handbook: Strategic Information and Regulations by : IBP USA

Download or read book Iraq Energy Policy, Laws and Regulations Handbook: Strategic Information and Regulations written by IBP USA and published by Lulu.com. This book was released on 2009-03-20 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2011 Updated Reprint. Updated Annually. Iraq Energy Policy, Laws and Regulations Handbook

Yearbook on International Investment Law & Policy 2008-2009

Author : Karl P Sauvant
Publisher : Oxford University Press
ISBN 13 : 0195341570
Total Pages : 727 pages
Book Rating : 4.1/5 (953 download)

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Book Synopsis Yearbook on International Investment Law & Policy 2008-2009 by : Karl P Sauvant

Download or read book Yearbook on International Investment Law & Policy 2008-2009 written by Karl P Sauvant and published by Oxford University Press. This book was released on 2009-07-02 with total page 727 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, international investment law consists of a network of multifaceted, multilayered international treaties that, in one way or another, involve virtually every country of the world. The evolution of this network continues, raising a host of issues regarding international investment law and policy, especially in the area of international investment disputes. This Yearbook monitors current developments in international investment law and policy, focusing (in Part One) on trends in foreign direct investment (FDI), international investment agreements, and investment disputes, with a special look at developments in the oil and gas sector. Part Two, then, looks at central issues in the contemporary discussions on international investment law and policy. With contributions by leading experts in the field, this title provides timely, authoritative information on FDI that can be used by a wide audience, including practitioners, academics, researchers, and policy makers.

The Iraq Study Group Report

Author : Iraq Study Group (U.S.)
Publisher : Vintage
ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis The Iraq Study Group Report by : Iraq Study Group (U.S.)

Download or read book The Iraq Study Group Report written by Iraq Study Group (U.S.) and published by Vintage. This book was released on 2006-12-06 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the findings of the bipartisan Iraq Study Group, which was formed in 2006 to examine the situation in Iraq and offer suggestions for the American military's future involvement in the region.

Congressional Record

Author : United States. Congress
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Congressional Record by : United States. Congress

Download or read book Congressional Record written by United States. Congress and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Record is the official record of the proceedings and debates of the United States Congress. It is published daily when Congress is in session. The Congressional Record began publication in 1873. Debates for sessions prior to 1873 are recorded in The Debates and Proceedings in the Congress of the United States (1789-1824), the Register of Debates in Congress (1824-1837), and the Congressional Globe (1833-1873)

Oil and Gas in the Disputed Kurdish Territories

Author : Rex J. Zedalis
Publisher : Routledge
ISBN 13 : 1136300252
Total Pages : 320 pages
Book Rating : 4.1/5 (363 download)

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Book Synopsis Oil and Gas in the Disputed Kurdish Territories by : Rex J. Zedalis

Download or read book Oil and Gas in the Disputed Kurdish Territories written by Rex J. Zedalis and published by Routledge. This book was released on 2012-05-16 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the historical and contextual background to the oil and gas resources in the Kurdish territories, placing particular emphasis on the reserves situated in the disputed provinces. The volume is singularly unique in focusing on an examination of the rules reflected in both the national and the regional constitutional, legislative, and contractual measures and documents relevant to the question of whether the central government in Baghdad or the Kurdish Regional Government (KRG) in Erbil has a stronger claim to legal control over the oil and gas resources in the disputed Kurdish territories. As a subsidiary focus, the author also draws attention to how the basic thrust of the volume connects to broader jurisprudential issues regarding the nature and purpose of law, the matter of claims by native peoples to natural resources on traditional lands, and the place of regional minorities operating in a federal system. Since the law examined is domestic or municipal in origin, additional reference is made to the role that such law can play in the "bottom up" (as opposed to more conventional "top down") development of international law. The book’s opening chapters provide a valuable contextual introduction, followed by a number of substantive chapters providing an analytical and critical assessment of the controlling legal rules. Written in a scholarly, yet accessible style, and covering matters of basic importance to academics, lawyers, political scientists, government representatives, and students of energy and natural resources, as well as those of developing legal structures, Oil and Gas in the Disputed Kurdish Territories is an essential addition to any collection.

Journal of the House of Representatives of the United States

Author : United States. Congress. House
Publisher :
ISBN 13 :
Total Pages : 1952 pages
Book Rating : 4.A/5 ( download)

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Book Synopsis Journal of the House of Representatives of the United States by : United States. Congress. House

Download or read book Journal of the House of Representatives of the United States written by United States. Congress. House and published by . This book was released on 2003 with total page 1952 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some vols. include supplemental journals of "such proceedings of the sessions, as, during the time they were depending, were ordered to be kept secret, and respecting which the injunction of secrecy was afterwards taken off by the order of the House".

Securing America's Interest in Iraq

Author : United States. Congress. Senate. Committee on Foreign Relations
Publisher :
ISBN 13 :
Total Pages : 828 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Securing America's Interest in Iraq by : United States. Congress. Senate. Committee on Foreign Relations

Download or read book Securing America's Interest in Iraq written by United States. Congress. Senate. Committee on Foreign Relations and published by . This book was released on 2007 with total page 828 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Petroleum Fiscal Systems and Contracts

Author : Muhammed Abed Mazeel
Publisher : diplom.de
ISBN 13 : 3836638215
Total Pages : 449 pages
Book Rating : 4.8/5 (366 download)

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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 449 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 [...]