How Can Government Best Achieve its Objectives for Petroleum Development: Taxation and Regulation or State Participation?
Article from: OGEL 4 (2010), in Upstream Petroleum Regulation incl. Host Government Contracts
Oil is of tremendous importance to the economy of countries that are endowed with the resource. The Government in such countries would usually have ambitious aspirations to maximize their gains from the exploitation of this finite resource whilst sustaining present investments and stimulating more investments for the future. How well these aspirations materialize into reality depends on the application of an appropriate framework for petroleum development. Over the years, petroleum resource endowed countries have been torn between the options of using tax instruments or ...