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.