Petroleum fiscal systems: 2017 in review
2017 was another active year for fiscal change as we continue to adjust to the new normal. The oil price was less volatile, so governments did not need to change fiscal terms for existing assets on the same scale as previous years. But fiscal changes in December completely changed the picture. Alongside this, governments made numerous changes to new licences to reflect the investment climate. Read our annual review to discover: Who delivered fiscal disruptions in our six 'jurisdictions to watch'? What change contributed the lions share of the $200 billion fiscal disruption total? Why was the North Sea particularly active? Where were the aggressive fiscal bids in licensing rounds? When will we see fiscal change in Nigeria?