In our latest 'month in brief', we highlight the main Fiscal and Licensing stories that occurred in May and we provide our analysis and opinion on the developments. This issue highlights: Changes in fiscal terms: Property taxes for oil companies were reduced in the Bashkir Republic in Russia. Limits on bid items were placed in Mexico; Colombia made changes to add stability Ongoing fiscal discussions: The PIGB in Nigeria passed its third reading and will now be sent to the house of representatives; Peru clarifies its stance on royalty reduction Licensing round highlights: Australia, Norway, Faroe Islands and Indonesia launch licensing rounds. Our Fiscal theme page is a dedicated landing point where you can access all our fiscal summaries, informs, insights, presentations and tools - subject to subscription. This can be accessed via the "Themes" menu at the top of every page on the Wood Mackenzie portal.