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Global upstream fiscal systems: 5 things to look for in 2022

06 December 2021

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06 December 2021

Global upstream fiscal systems: 5 things to look for in 2022

Report summary

Governments have a lot to think about going into 2022, and they will face competing and at times contradictory pressures. Will fiscal policy makers introduce tougher fiscal terms or establish carbon prices that will put them at the sharp end of the energy transition? Or will the upstream sector remain the priority for now? The answers may lie in bolder, more radical policies. We will also be keeping a keen eye on the fiscal developments in some key producing countries.

Executive summary
- 1. Carbon pricing and decarbonisation: the stage is set, time for action?
- 2. Holistic taxation – a potential win-win for investors and governments?
- 3. An uncertain future for licensing rounds and fiscal predictability
- 5. Decommissioning funding rules must tighten
- Follow ongoing fiscal discussions
- What to look for in 2022 – a regional upstream series
- Published to date

Tables and charts

This report includes 4 images and tables including:

The fiscal ‘circle of life’
Distribution of remaining oil and gas reserves by government share of remaining value
Global offshore decommex 2021-2050
Live fiscal discussions