Name: Petroleum fiscal systems: 2016 in review
Brand: Wood Mackenzie
SKU: 59930
Price: 1350 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Insight 17 January 2017

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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2016 kept pace with 2015, registering 41 changes to oil and gas fiscal terms. The last two years have been fiscally unstable as governments tried to deal with the fail in oil price. Mexico made the most revisions, but tax changes in other producing countries had a bigger impact on investor value. Budget concerns forced tax increases. Russia and Brazil hit the headlines, while HB247 in Alaska ignited much debate. Elsewhere, there was a renewed drive to minimise the impact of costs because tax collections collapsed. India’s move was one of the most extreme. Some concessions were made to help producers break even, as many fields were running at a loss in early 2016. The tax cut in the UK was one of the largest, but the move was more about preserving jobs and spurring investment in undeveloped fields. More countries adopted progressive taxation, primarily to provide downside protection.  But the reason for change in Ecuador was subtly different to Kazakhstan or Alberta.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle">
        <a href="#979c6e20-2aa3-4bd7-9a2e-eab36f12cfb1" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="979c6e20-2aa3-4bd7-9a2e-eab36f12cfb1" aria-expanded="false">
            Executive summary
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        <ul id="979c6e20-2aa3-4bd7-9a2e-eab36f12cfb1" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        1. Mexico was the most active country in a busy year
    </li>
    <li class="push-quarter--bottom">
        2. Budget concerns forced tax increases
    </li>
    <li class="push-quarter--bottom">
        3. Renewed drive to minimise the impact of costs
    </li>
    <li class="push-quarter--bottom">
        4. Tight margins and the scrap for FIDs delivered tax cuts
    </li>
    <li class="push-quarter--bottom">
        5. More countries adopted progressive taxation
    </li>
    <li class="push-quarter--bottom">
        6. Corporate tax changes had little effect
    </li>
    <li class="push-quarter--bottom">
        2016 fiscal changes
            <ul id="6e7a18dc-78fd-4282-a31b-d59befa66805" class="push-half--left">
                    <li class="push-quarter--bottom">
        Relevant reports
            <ul id="1a999050-3706-4bf2-a336-d66a8245e0c9" class="push-half--left">
                    <li class="push-quarter--bottom">
        January
    </li>
    <li class="push-quarter--bottom">
        February
    </li>
    <li class="push-quarter--bottom">
        March
    </li>
    <li class="push-quarter--bottom">
        April
    </li>
    <li class="push-quarter--bottom">
        May
    </li>
    <li class="push-quarter--bottom">
        July
    </li>
    <li class="push-quarter--bottom">
        August
    </li>
    <li class="push-quarter--bottom">
        September
    </li>

</ul>
    </li>

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<h3 class="alpha push-half--bottom">Tables and charts</h3>

<p class="push-half--bottom">This report includes the following images and tables:</p>

<ul class="list list--bullets">
        <li class="list__item push-quarter--bottom">Petroleum fiscal systems: 2016 in review: Table 1</li>
    </ul>

</div>

<div class="col small-12 large-4 push--bottom">
                    
<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Petroleum Fiscal Systems 2016 in review (wallchart).pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>33.74 KB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Fiscal Service Overview.pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>1002.46 KB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Petroleum fiscal systems: 2016 in review</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>401.65 KB</span>
</p>
</li></ul>
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