Fiscal Systems for Oil: How Governments Compete for Exploration Investment
Author: Chakib Khelil Date: 5/1/1995 (PDF, 200KB)
Exploration for petroleum occurs on the basis of government-granted concessions, leases, or contracts whose terms and conditions are established by law or negotiated case by case. An important part of these arrangements is the fiscal terms and conditions--bonuses, rentals, royalties, taxes. Chakib Khelil looks at fiscal systems around the world and draws some conclusions about how governments compete for exploration investment.