The Stability of the UK Tax Regime for Offshore Oil and Gas

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Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Stability of the UK Tax Regime for Offshore Oil and Gas by : Emre Usenmez

Download or read book The Stability of the UK Tax Regime for Offshore Oil and Gas written by Emre Usenmez and published by . This book was released on 2015 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Though welcome, the fiscal incentives introduced in the Finance Act 2009 aiming to maximise hydrocarbon recovery were inadequate. The UK Government should avoid mistakes made by their counterparts in the United States, ignore the temptations to alter the fiscal regime and give a clear message of fiscal stability to win back the faith the industry once had in it.

Fiscal Regimes for Extractive Industries—Design and Implementation

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Publisher : International Monetary Fund
ISBN 13 : 1498340067
Total Pages : 82 pages
Book Rating : 4.4/5 (983 download)

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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

Redesigning Petroleum Taxation

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Publisher : Routledge
ISBN 13 : 1315414082
Total Pages : 178 pages
Book Rating : 4.3/5 (154 download)

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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.

UK offshore oil and gas

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Publisher : The Stationery Office
ISBN 13 : 9780215532480
Total Pages : 68 pages
Book Rating : 4.5/5 (324 download)

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Book Synopsis UK offshore oil and gas by : Great Britain: Parliament: House of Commons: Energy and Climate Change Committee

Download or read book UK offshore oil and gas written by Great Britain: Parliament: House of Commons: Energy and Climate Change Committee and published by The Stationery Office. This book was released on 2009-06-30 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whilst the UK economy must decarbonise if the country is to meet its obligations to tackle climate change, and use of fossil fuels must diminish, the UK will still need to use the oil and gas resources remaining in the UK continental shelf. With much of current electricity generating capacity set to close over the next decade, the UK Government is right to focus on achieving affordable, secure and sustainable energy supplies as a key challenge. The Government's priority should be security of supply, within the context of moving to a low carbon economy. However, proper account must also be taken of both the immense tax revenues paid by the industry and the 350,000 people whose employment rests upon it. The oil and gas industry operating on the UK continental shelf currently faces high costs, low prices, lack of affordable credit and a global recession. Unless the fiscal and regulatory regime is well designed and highly attractive then the likelihood is that the UK may not recover as much of its reserve as would be desirable. The difficulties in accessing affordable lending could cost 50,000 jobs. The Committee is not convinced that the filed allowance and other measures announced in the Budget are sufficient either to create the competitive environment needed by the industry or to provide a strong enough incentive to exploit fully remaining resources. The Government should instigate and fund a comprehensive survey of the marine environment and its wildlife west of Shetland in order to evaluate the full potential effect of intensive oil and gas recovery activities in the area.

Oil and Gas Law

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Publisher : Edinburgh University Press
ISBN 13 : 0748697837
Total Pages : 705 pages
Book Rating : 4.7/5 (486 download)

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Book Synopsis Oil and Gas Law by : Ues Enmez Emre Paterson John Gordon Greg

Download or read book Oil and Gas Law written by Ues Enmez Emre Paterson John Gordon Greg and published by Edinburgh University Press. This book was released on 2014-05-14 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly successful book brings together academic and practising lawyers to consider the key regulatory and contractual dimensions of the mature hydrocarbon province. Now in its second edition, the text has been fully updated. New chapters look at Energy Security, Law and Technology in the Oil Field and Acquisitions and Disposals.

Regulating Offshore Petroleum Resources

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Publisher : Edward Elgar Publishing
ISBN 13 : 1785368915
Total Pages : 288 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis Regulating Offshore Petroleum Resources by : Eduardo G. Pereira

Download or read book Regulating Offshore Petroleum Resources written by Eduardo G. Pereira and published by Edward Elgar Publishing. This book was released on 2019 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulating Offshore Petroleum Resources examines the main regulatory characteristics of the Norwegian and the British models for petroleum exploration, production and supply. The authors explore to what extent these models are relevant for the design of regulatory models in countries with significant existing petroleum resources. The applicability of these regulatory models to countries with potential petroleum resources is also assessed.

Fiscal Systems for Hydrocarbons

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Publisher : World Bank Publications
ISBN 13 : 082137267X
Total Pages : 86 pages
Book Rating : 4.8/5 (213 download)

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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.

Petroleum Industry Regulation within Stable States

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Publisher : Routledge
ISBN 13 : 1351911570
Total Pages : 193 pages
Book Rating : 4.3/5 (519 download)

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Book Synopsis Petroleum Industry Regulation within Stable States by : Solveig Glomsrød

Download or read book Petroleum Industry Regulation within Stable States written by Solveig Glomsrød and published by Routledge. This book was released on 2017-05-15 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the challenges facing stable democratic states in dealing with oil companies in order to secure general welfare gains. Political stability means that such states should be able to take a longer term perspective. The principal topic considered is petroleum industry regulation but the insights extend to other non-renewable natural resources. A particular issue addressed is the question of tax competition between producing countries. Within the context of company/government relations the book considers such current topics as the challenges of dealing with merged companies and the strategic choices facing tax authorities.

The North Sea System for Petroleum Production

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Publisher : Edward Elgar Publishing
ISBN 13 : 1839102500
Total Pages : 147 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis The North Sea System for Petroleum Production by : Brent F. Nelsen

Download or read book The North Sea System for Petroleum Production written by Brent F. Nelsen and published by Edward Elgar Publishing. This book was released on 2024-03-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The North Sea System for Petroleum Production unpacks the variation in state intervention in offshore petroleum activities on the British and Norwegian continental shelves. This astute book also examines the causes of various policy convergences and divergences.

Petroleum Taxation

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Publisher : Routledge
ISBN 13 : 1134080336
Total Pages : 277 pages
Book Rating : 4.1/5 (34 download)

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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.

Effects of tax increases on the oil industry

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Publisher : The Stationery Office
ISBN 13 : 9780215037572
Total Pages : 88 pages
Book Rating : 4.0/5 (375 download)

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Book Synopsis Effects of tax increases on the oil industry by : Great Britain: Parliament: House of Commons: Scottish Affairs Committee

Download or read book Effects of tax increases on the oil industry written by Great Britain: Parliament: House of Commons: Scottish Affairs Committee and published by The Stationery Office. This book was released on 2007-11-30 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: Incorporating HC 1326-i to iii, session 2005-06, previously unpublished

United Kingdom

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Publisher : International Monetary Fund
ISBN 13 : 1475553552
Total Pages : 88 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis United Kingdom by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book United Kingdom written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2016-11-16 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report assesses fiscal transparency practices in the United Kingdom in relation to the requirements of the IMF’s new Fiscal Transparency Code (FTC). Across all pillars evaluated in the code, the United Kingdom scores very highly when compared with other countries that have undergone an assessment. Of the 48 principles in the FTC, the United Kingdom meets 9 principles at the basic level, 10 principles at the good level, and 23 principles at the advanced level. Fiscal transparency practices are strongest in the area of fiscal reporting and resource revenue management. In four principles, the United Kingdom’s transparency practices do not currently meet basic practice.

Uk Energy Experience, The: A Model A Warning? - Proceedings Of The British Institute Of Energy Economics Conference

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Publisher : World Scientific
ISBN 13 : 1783262699
Total Pages : 531 pages
Book Rating : 4.7/5 (832 download)

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Book Synopsis Uk Energy Experience, The: A Model A Warning? - Proceedings Of The British Institute Of Energy Economics Conference by : G Mackerron

Download or read book Uk Energy Experience, The: A Model A Warning? - Proceedings Of The British Institute Of Energy Economics Conference written by G Mackerron and published by World Scientific. This book was released on 1996-03-30 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: The UK energy system has experienced radical reform in past decade — privatisation, liberalisation, re-structuring and re-regulation for gas/electricity supply and coal, plus rapid technological change and flexible fiscal policy in offshore oil/gas. Many countries are seeking to travel similar paths, though more slowly (eg USA, EU, Eastern Europe, Latin America, Pacific Rim) and are following UK experience. The conference brings together academics, business economists and consultants to give the first major evaluation from an economics pespective of the extent to which the UK experience has been successful, and how far it might be reproduced elsewhere.

South Africa

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Publisher : International Monetary Fund
ISBN 13 : 1513514806
Total Pages : 154 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis South Africa by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book South Africa written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2015-09-08 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance report reviews South Africa’s tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has historically been the mainstay of the South African economy. Mineral exports remain the principal contributor to foreign exchange earnings on the current account. South Africa is not yet a significant producer of crude oil or natural gas. Oil and gas exploration nevertheless shows promise. Taxation is far from top of the list in current challenges facing the development of extractive industries in South Africa. The national goal of economic and social transformation in favor of Historically Disadvantaged South Africans has major impact on the mining sector.

Energy Abstracts for Policy Analysis

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Publisher :
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Energy Abstracts for Policy Analysis by :

Download or read book Energy Abstracts for Policy Analysis written by and published by . This book was released on 1989 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Country Analysis Briefs

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Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Country Analysis Briefs by :

Download or read book Country Analysis Briefs written by and published by . This book was released on 1994 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Petroleum Resource Management

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Publisher : Edward Elgar Publishing
ISBN 13 : 1786432218
Total Pages : pages
Book Rating : 4.7/5 (864 download)

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Book Synopsis Petroleum Resource Management by : John A.P. Chandler

Download or read book Petroleum Resource Management written by John A.P. Chandler and published by Edward Elgar Publishing. This book was released on 2018-10-26 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Petroleum Resource Management offers a thought-provoking examination of how countries manage their offshore petroleum resources by comparing the different approaches to licensing and regulation taken by Australia, Norway and the UK.Based on extensive research into their policies, licensing systems and resource management regulations, including interviews with government regulators and companies, John Chandler explores how these countries all face similar challenges as their offshore petroleum basins mature, including smaller discoveries, marginal production and ageing infrastructure. Identifying further challenges such as climate change and the increasing accountability in relation to sustainability and social issues, Chandler analyses how their petroleum policy, systems of regulation, and regulators developed up to the present, and how they are responding to these challenges, as well as how they deal with exploration, development, infrastructure sharing, and production.This timely and informative book will be essential reading for those in petroleum policy and governance, including petroleum lawyers, government officials, regulators and analysts. Academics and students on courses relating to petroleum regulation and the governance of resources will also benefit from this engaging book.