| 来源类型 | Energy Comments |
| 规范类型 | 评论 |
| Fundamental Petroleum Fiscal Considerations | |
| Daniel Johnston; David Johnston | |
| 发表日期 | 2015-02-02 |
| 出版年 | 2015 |
| 页码 | 6 |
| 语种 | 英语 |
| 概述 | The most common business structures in the industry today are either production sharing contracts (PSCs) or royalty/tax systems (R/Ts). Roughly half of the governments of this world use PSCs and the rest use R/Ts. While these systems are fundamentally different from philosophical and legal perspectives, their structures are dramatically similar from financial, economic, and accounting […] |
| 摘要 | The most common business structures in the industry today are either production sharing contracts (PSCs) or royalty/tax systems (R/Ts). Roughly half of the governments of this world use PSCs and the rest use R/Ts. While these systems are fundamentally different from philosophical and legal perspectives, their structures are dramatically similar from financial, economic, and accounting points of view. Both of these approaches to the business relationship provide the IOC a means of recovering costs incurred and earning a share of profits if (1) a commercial discovery is made and (2) sufficient revenues are generated. There has always been discussion about the most efficient and effective contract design from a financial/economic point of view. There are many things involved especially considering these agreements are structured to last decades in spite of all the risks and uncertainties. However, recently, hot debate is underway over one of the most fundamental aspects of the world’s agreements. The current debates in Mexico and India have been particularly intense. On one side of the debate are those who believe basic ‘profits-based’ structures found in the world’s PSCs and R/Ts are the best alternative. On the other hand there are those who propose a structure based simply on the division of production or revenues. The overriding concern behind this initiative is the lack of faith in the accounting for costs and the spectre of cost overruns, goldplating, or even cheating. In Mexico the debate has not entered the public domain but is being promoted by serious factions within Mexico. In India the positions have been formalized and explicitly articulated and publicly represented by two separate committees: The Rangarajan Committee and the Kelkar Committee. The Rangarajan Committee recommended the government move away from PSCs and embrace revenue sharing contracts (RSCs). The Kelkar committee contested the Rangarajan Committee recommendation to move to a RSC. |
| 主题 | Energy Comment |
| 关键词 | Fiscal Regime India IOC Mexico NOC Production Sharing Contract Revenue Sharing Contract |
| URL | https://www.oxfordenergy.org/publications/fundamental-petroleum-fiscal-considerations/ |
| 来源智库 | Oxford Institute for Energy Studies (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/312348 |
| 推荐引用方式 GB/T 7714 | Daniel Johnston,David Johnston. Fundamental Petroleum Fiscal Considerations. 2015. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| Fundamental-Petroleu（1157KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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