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10 Pages

Back to the future: fiscal responses to lower oil prices (Part 2)


Back to the future: fiscal responses to lower oil prices (Part 2)

Report summary

In Part 2 of this analysis we consider the drivers for future fiscal changes. While lower prices may lead some governments to reduce fiscal demands in an attempt to maintain investment, others may want to increase their share of the lower revenue available. Focusing on the 15 most important countries for international companies, we compare their current fiscal terms and circumstances and assess the likely future direction of fiscal policy.

What's included?

This report includes 1 file(s)

  • Back to the future: fiscal responses to lower oil prices (Part 2) PDF - 655.70 KB 10 Pages, 1 Tables, 7 Figures

Description

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.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive summary
  • Are the fiscal terms making projects uneconomic?
    • Figure 1 Minimum Government Share of project revenue
  • Is the tax rate too high?
    • Figure 2 Maximum Government Share of project revenue
    • Figure 3 Progressive terms and fluctuating prices: Angola PSC example
  • Are there legal constraints on fiscal changes?
    • Figure 4 Global distribution of fiscal systems
  • Is there a history of fiscal changes?
    • Figure 5 Fiscal instability in top 15 IOC jurisdictions
  • Is the government dependent on oil taxation?
    • Figure 6 Dependence on oil taxation: Alaska, Alberta, Russia and UK
  • What is the trend in oil production?
    • Figure 7 Oil production trend
  • Conclusions
    • Footnotes and references

In this report there are 8 tables or charts, including:

  • Executive summary
  • Are the fiscal terms making projects uneconomic?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 1
  • Is the tax rate too high?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 2
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 3
  • Are there legal constraints on fiscal changes?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 4
  • Is there a history of fiscal changes?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 5
  • Is the government dependent on oil taxation?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 6
  • What is the trend in oil production?
    • Back to the future: fiscal responses to lower oil prices (Part 2): Image 7
  • Conclusions
    • Table 1 Likelihood of future changes to fiscal terms in top 15 IOC countries
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