Country Report
Barbados upstream fiscal summary
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Concession fiscal regime with royalty, corporate income tax and an additional profits tax (APT). The Ministry of Energy, Business Development and Customer Affairs recently announced the 2026 offshore direct negotiation round, in which the Barbados National Oil Company Limited (BNOCL) will hold a maximum participating interest of 10%, 15% or 20%, as specified by the government for each block. The State's interest is carried until a declaration of commerciality. Royalty and income tax rates are fixed; APT is levied at 30% for a specified period on net profit whenever wellhead oil and gas prices exceed...
Table of contents
- Basis
- Licence terms
- Government equity participation
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Fiscal terms
- Ring fencing
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Corporate income tax
- Additional profits tax
- Product pricing
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes the following images and tables:
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TimelineSplit of the barrel - oil
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Split of the barrel - gasShare of profit - oilShare of profit - gasEffective royalty rate - shelf and deepwater oil and gasMaximum government share –shelf and deepwater oil and gasState share versus Pre-Share IRR - oilState share versus Pre-Share IRR - gasInvestor IRR versus Pre-Share IRR - oilInvestor IRR versus Pre-Share IRR - gas
- 6 more item(s)...
What's included
This report contains:
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