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11 Pages

Back to the future: fiscal responses to lower oil prices (Part 1)

Back to the future: fiscal responses to lower oil prices (Part 1)

Report summary

In Part 1 of this analysis we summarise fiscal developments since the beginning of 2014, highlighting changes made for producing assets since the price started to fall. We also look at fiscal terms that automatically respond to price movements, where terms are being reviewed and consider the impact of lower prices on current licensing activity.

What's included?

This report includes 1 file(s)

  • Back to the future: fiscal responses to lower oil prices (Part 1) PDF - 645.75 KB 11 Pages, 0 Tables, 5 Figures


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive Summary
    • Some fiscal terms have been changed in response to lower prices..
    • ..while others have been changing automatically
    • Most governments are considering their options
      • Ecuador's service fee conundrum
    • Conclusions
    • References
      • Appendix 1 - Changes to terms that impact existing assets since mid 2014
        • Argentina
        • China
        • Kazakhstan
        • Russia
        • United Kingdom
        • United States
      • Appendix 2 - Other fiscal changes that impact future licences (2014/15)
        • Australia
        • Colombia
        • Congo (Br.)
        • Croatia
        • Gabon
        • Gambia
        • Greenland
        • Guinea
        • Ireland
        • Kenya
        • Liberia
        • Madagascar
        • Malaysia
        • Mexico
        • Mozambique
        • Myanmar
        • Tanzania
        • Thailand
        • Trinidad & Tobago
        • Uganda
      • Appendix 3 Open and planned licensing rounds
        • Open rounds
        • Planned rounds

In this report there are 5 tables or charts, including:

  • Executive Summary
    • Figure 1 - Changes in fiscal terms 2014 - 2015
    • Figure 3 - Fiscal terms linked to prevailing oil prices
    • Figure 4 - Fiscal terms under review (April 2015)
    • Figure 5 - Open and planned licensing rounds
    • Figure 6 - Share of revenue under Ecuador's service contract terms (based on average contract fee (US$32/bbl))
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