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We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 

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Upstream oil and gas reports

25 May 2023

Malaysia upstream fiscal summary

Country Report

Malaysia upstream fiscal summary

From 2018, all exploration licences are governed by Revenue/Cost index (R/C) production sharing contracts. The R/C index based sliding scales for c...

25 May 2023

Philippines upstream fiscal summary

Country Report

Philippines upstream fiscal summary

Upstream licences are awarded via licensing rounds under what is effectively a simple Production Sharing Contract (PSC), despite being referred to ...

25 May 2023

Nigeria upstream fiscal summary

Country Report

Nigeria upstream fiscal summary

Nigeria awards upstream licences to foreign investors under the 2021 Petroleum Industry Act (PIA). Operators with existing licenses before the PIA ...

25 May 2023

Norway upstream fiscal summary

Country Report

Norway upstream fiscal summary

Upstream licences in Norway are awarded during regular licensing rounds. Fiscal terms are fixed. Norway has a profits-based fiscal system featuring...

25 May 2023

Turkey upstream fiscal summary

Country Report

Turkey upstream fiscal summary

Upstream licences in Turkey are awarded under concession terms. The system includes a royalty and corporate income tax. A flat-rate royalty is levi...

25 May 2023

Timor-Leste upstream fiscal summary

Country Report

Timor-Leste upstream fiscal summary

All upstream licences in Timor-Leste are awarded through licensing rounds under production sharing contract terms (PSCs). The terms are set for eac...

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