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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.

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  • Document

    New offshore oil royalty announced for Newfoundland & Labrador

    PDF 262.94 KB

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Tables and charts

This report includes 3 images and tables including:

Images

  • Royalty rates

Tables

  • New offshore oil royalty announced for Newfoundland & Labrador: Table 1
  • Comparison of New vs. Historical Newfoundland & Labrador Royalty Terms

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