Country Report

Nigeria upstream fiscal summary

From

$1,650.00

You can pay by card or invoice

From

$1,650.00

You can pay by card or invoice

Get this Country Report as part of a subscription

Enquire about subscriptions

Already have a subscription? Sign In

Further information

Pay by Invoice or Credit Card FAQs

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

Report summary

In 2008, the Government published a draft Petroleum Industry Bill (PIB) proposing fundamental reforms for the industry. Most controversially, it proposes to increase Government Share on all deepwater oil and gas projects. However, after four years, the PIB has not yet passed into law and it is most likely to be delayed until late 2012 at the earliest. Only then will the impact on the industry be clear. This uncertainty has contributed to a downturn in deepwater E&A activity and project...

What's included

This report contains

  • Document

    Nigeria upstream fiscal summary

    PDF 319.51 KB

Table of contents

  • Executive summary
    • Basis
    • Licence terms
    • Government equity participation
      • Ring fencing
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty
      • PSC cost recovery
        • Petroleum profits tax
        • Education tax
        • Corporate income tax
      • PSC profit sharing
      • Product pricing
      • Summary of modelled terms
    • Recent history of fiscal changes
    • Stability provisions
    • Split of the barrel and share of profit
      • Effective royalty rate - shelf, oil
      • Effective royalty rate - onshore, gas
      • Effective royalty rate - shelf, gas
      • Effective royalty rate - deepwater, gas
      • Maximum government share - shelf, oil
      • Maximum government share - deepwater, oil
      • Maximum government share -
      • Maximum government share -
      • shelf, gas
      • Maximum government share -
      • deepwater, gas
    • Progressivity
    • Fiscal deterrence

Tables and charts

This report includes 36 images and tables including:

Tables

  • Timeline detail
  • Effective royalty rate - onshore, oil
  • Bonuses, rentals and fees
  • Indirect taxes
  • Current licence, equity and fiscal terms: Table 3
  • Current licence, equity and fiscal terms: Table 4
  • Cost recovery
  • Current licence, equity and fiscal terms: Table 10
  • Assumed terms by location - oil
  • Assumed terms by location - gas
  • Economic analysis: Table 2
  • Effective royalty rate - deepwater, oil
  • Economic analysis: Table 4
  • Economic analysis: Table 5
  • Economic analysis: Table 6
  • Maximum government share - onshore, oil
  • Economic analysis: Table 8
  • Economic analysis: Table 9
  • Economic analysis: Table 10
  • Economic analysis: Table 11
  • Economic analysis: Table 12
  • Current licence, equity and fiscal terms: Table 6
  • Current licence, equity and fiscal terms: Table 7
  • Current licence, equity and fiscal terms: Table 8
  • Current licence, equity and fiscal terms: Table 9

Images

  • Revenue flowchart: Nigeria PSC
  • Timeline
  • Economic analysis: Image 1
  • Economic analysis: Image 2
  • Economic analysis: Image 3
  • Share of profit - 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
  • Effective contractor profit share - oil

You may be interested in

Questions about this report?

  • Europe:
    +44 131 243 4400
  • Americas:
    +1 713 470 1600
  • Asia Pacific:
    +65 6518 0800