Title: Petroleum Fiscal Systems Author: Eduardo G. Pereira, Erik T. Jarlsby ISBN: 1593704801 / 9781593704803 Format: Hard Cover Pages: 471 Publisher: PennWell Year: 2018 Availability: In Stock
Description
Contents
Petroleum fiscal systems are arrangements for sharing the economic value from petroleum extraction between the host nation and the companies engaged in the extraction. In most countries, oil and gas resources are under the control of the national Government. The activities of exploiting the resources are undertaken by firms, some of which are owned by the state. Petroleum resource management therefore is an interaction of two key parties: The enterprises which carry out operations of finding and extracting petroleum from the ground, and the Government as custodian of the resources on behalf of the host nation which ultimately owns them.
The book reviews the various instruments which may form the petroleum fiscal system of a jurisdiction, with numerous examples from countries having configured their systems very differently. It also reviews fiscal valuation and control, related cross-border issues, and the economic analysis and design of fiscal systems related to a variety of development scenarios found in modern petroleum operations.
Features and Benefits
Explain the fiscal and related instruments applied in the upstream petroleum sector internationally: Royalty, production sharing, bonuses, remuneration for service, privileged state participation, corporate income tax, petroleum resource taxes, and non-fiscal business obligations.
Review common issues of delineation and verification of petroleum fiscal parameters, including transfer pricing issues.
Analyze petroleum fiscal systems in terms of value allocation, risk allocation and incentive effects.
Provide design considerations for setting up and implementing the petroleum fiscal system in the context of national petroleum policy and licensing of petroleum rights.
Audience
Oil company executives, business developers, analysts, finance and tax professionals
Politicians and public servants
Investors and financial sector professionals
Lawyers and other professional service providers
Managers and analysts of firms doing business with the petroleum industry
Academia and civil society whose work may relate to petroleum fiscal systems
Students of petroleum economics and related disciplines
Preface
Part I : Licensing and Fiscal Framework
Chapter 1 : Introduction Chapter 2 : Licensing Petroleum Rights
Part II : The Fiscal Instruments
Chapter 3 : Levy on Production : Royalty, Severance Tax and Revenue Sharing Chapter 4 : Production Sharing Chapter 5 : Remuneration for Service Chapter 6 : Bonuses, Lease Sales and Area Fees Chapter 7 : Privileged State Participation Chapter 8 : Tax on Corporate Income and Distributed Profits Chapter 9 : Petroleum Resource Taxes Chapter 10 : Taxes Related to Inputs and Externalities Chapter 11 : Business Obligations in the National Interest
Part III : Application
Chapter 12 : Fiscal Valuation and International Tax Issues Chapter 13 : Economic Issues in Exploration and Development Chapter 14 : Fiscal Analysis : Purposes and Tools Chapter 15 : Fiscal Analysis : Selected Parameters Chapter 16 : Fiscal Design