Insight
New offshore oil royalty announced for Newfoundland & Labrador
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Report summary
On 2 November 2015, the Government of Newfoundland and Labrador announced the details of its proposed new generic offshore oil royalty regime. The objectives of the recent royalty review were to define a transparent, profit-based, progressive and competitive royalty regime. The overhaul of the previous project level royalty negotiation is a first step towards greater fiscal transparency ahead of an upcoming offshore land auction set for mid-November. The new terms do not apply to assets under development (like Hebron), but will apply to any potential future projects in the Flemish Pass.
Table of contents
- Details of the New Generic Offshore Oil Royalty Regime
- R Factor
- Net Royalty criteria
- Royalty Rates
Tables and charts
This report includes 3 images and tables including:
- New offshore oil royalty announced for Newfoundland & Labrador: Table 1
- Royalty rates
- Comparison of New vs. Historical Newfoundland & Labrador Royalty Terms
What's included
This report contains:
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