Country Report

Canada (Newfoundland and Labrador) upstream fiscal summary

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04 July 2018

Canada (Newfoundland and Labrador) upstream fiscal summary

Report summary

Simple concession-based fiscal regime. The 2007 Energy Plan stated that the government of Newfoundland and Labrador would take 10% equity in all future projects via Nalcor Energy (it is expected that Nalcor would take up its equity at the development plan approval stage and would negotiate payment of its share of exploration costs and pre-development costs incurred). Royalty is levied on a two tier system, basic royalty and net royalty, according to a sliding scale at rates linked to...

Table of contents

  • Basis
  • Licence terms
  • Government equity participation
    • Ring fencing
    • Indirect taxes
    • VAT/Sales Taxes
    • Royalty
    • Oil
    • Onshore royalty
    • Offshore royalty
    • Gas
    • Super-royalty
    • Federal income tax
    • Provincial income tax
    • Product pricing
    • Summary of modelled terms
    • Recent history of fiscal changes
  • Split of the barrel and share of profit
  • Effective royalty rate and maximum government share
  • Progressivity
  • Fiscal deterrence

Tables and charts

This report includes 21 images and tables including:

  • Bonuses, rentals and fees
  • Split of the barrel - oil
  • Split of the barrel - gas
  • Share of profit - oil
  • Share of profit - gas
  • Effective royalty rate and minimum state share - Offshore, Oil
  • Effective royalty rate and minimum state share - Gas
  • Maximum government share and maximum state share - Onshore, Oil
  • Maximum government share and maximum state share - Offshore, Oil
  • Maximum government share and maximum state share - Gas
  • State share versus Pre-Share IRR - oil
  • State share versus Pre-Share IRR - gas
  • Investor IRR versus Pre-Share IRR - oil
  • Investor IRR versus Pre-Share IRR - gas
  • Royalty rate - Oil onshore
  • Royalty rate - Oil offshore
  • Royalty rate
  • Royalty rate - Gas
  • Assumed terms by location - oil
  • Timeline
  • Timeline details

What's included

This report contains:

  • Document

    ChartFile Deepwater Canada(Concession (NewfoundlandLabrador)).xls

    XLS 724.50 KB

  • Document

    Canada (Newfoundland and Labrador) upstream fiscal summary

    PDF 997.52 KB