Petroleum fiscal systems: 2019 in review

The governments looking for a greater share from existing assets outweighed those looking to stimulate investment in absolute value terms. A more stable price environment may have been a contributing factor. Decarbonisation and the energy transition are increasingly front of mind for governments and investors. But new tougher terms to reduce fossil fuel production were only talked about in the main. Some governments, particularly in Africa, evolved fiscal terms to incentivise development and attract new exploration investment.