International Petroleum Fiscal Systems And Production Sharing Contracts

Author: Daniel Johnston
Publisher: PennWell Books
ISBN: 9780878144266
Size: 10.56 MB
Format: PDF, ePub
View: 38

Daniel Johnston covers everything including historical development of contracts, terminology of accounting and negotiations, threshold field size analysis, arithmetic behind contract terms, and more. Contents Petroleum fiscal systems Concessionary systems Production-sharing contracts Risk service contracts Threshold field size analysis Global market for exploration acreage Production-sharing contract outline Accounting principles Double taxation Commentary Appendices Glossary.

Petroleum Fiscal Systems And Contracts

Author: Muhammed Abed Mazeel
ISBN: 9783836638210
Size: 11.49 MB
Format: PDF, Mobi
View: 24

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 [...]

Fiscal Systems For Hydrocarbons

Author: Silvana Tordo
Publisher: World Bank Publications
ISBN: STANFORD:36105124217022
Size: 11.52 MB
Format: PDF, Mobi
View: 26

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.

Introduction To Oil Company Financial Analysis

Author: David C. Johnston
Publisher: PennWell Books
ISBN: 159370044X
Size: 15.33 MB
Format: PDF, Docs
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This title is written by David Johnston and Daniel Johnston. There has always been a bit of magic in the stock market, especially when it comes to oil companies. When the oil industry and the stock market get together, the affair is usually dynamic and not always pleasant. Basic principles are widely understood in the financial industry, but the terminology and analytical techniques can vary greatly. This book is written for the nonfinancial shareholders, managers, and oil company employees interested in the forces that influence stock values. The bottom line in any company is expressed in the language of finance. This book explains financial concepts in a nontechnical, practical way so that nonfinancial professionals and others may understand and appreciate this aspect of the business. The value information found in this book includes: abbreviations and expanded definitions of key terms; energy conversion factors; reporting systems & statements; and stock tables explained.

Petroleum Taxation

Author: Carole Nakhle
Publisher: Routledge
ISBN: 9781134080328
Size: 13.50 MB
Format: PDF, Docs
View: 63

Petroleum taxation is the universal instrument through which governments seek to determine the crucial balance between the financial interests of the oil companies and the owners of the resource. This book addresses how governments have and continue to approach this problem, the impacts of different policy choices and how these are being adapted to changing business conditions. Carole Nakhle presents the reader with an illuminating and robust analysis of the entire taxation story, from the basic theoretical considerations through to advanced computations applied to various tax regimes. Nakhle’s main argument is that petroleum taxation is a subject of complexity, variety and subject to continued evolution, being surrounded and shaped by multifaceted geological, technical and market factors together with unpredictable political influences. The author challenges the assumption that perfect models of petroleum taxation can be designed and applied to countries and circumstances around the world, arguing that an ideal structure exists only in theory but can be nonetheless a useful benchmark against which to test proposed fiscal systems.