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New offshore oil royalty announced for Newfoundland & Labrador


New offshore oil royalty announced for Newfoundland & Labrador

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.

What's included?

This report includes 1 file(s)

  • New offshore oil royalty announced for Newfoundland & Labrador PDF - 262.83 KB 3 Pages, 2 Tables, 1 Figures

Description

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  • Details of the New Generic Offshore Oil Royalty Regime
  • R Factor
  • Net Royalty criteria
  • Royalty Rates

In this report there are 3 tables or charts, including:

  • Details of the New Generic Offshore Oil Royalty Regime
    • New offshore oil royalty announced for Newfoundland & Labrador: Table 1
    • Royalty rates
  • R Factor
  • Net Royalty criteria
  • Royalty Rates
    • Comparison of New vs. Historical Newfoundland & Labrador Royalty Terms
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