In our latest 'month in brief', we highlight the main Fiscal and Licensing stories that occurred in July and we provide our analysis and opinion on the developments. This issue highlights: Changes in fiscal terms: United States lowered royalty rate for shallow-water blocks in Gulf of Mexico, Alaska cancelled cash credits for small producers, Thailand allowed upstream operations be conducted under PSCs and service contracts. Ongoing fiscal discussions: Algeria is looking to enact a new hydrocarbons law. Indonesia plans to enact the exemption from indirect taxes on Gross Split PSCs. Licensing round highlights: rounds results in Mexico and the United Kingdom. Brazil, United States, Mexico and United Kingdom 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.