The Story of the UK Oil and Gas Taxation Policy: History and Trends
Article from: OGEL 4 (2010), in Upstream Petroleum Regulation incl. Host Government Contracts
Abstract
Different oil producing countries adopt different types of oil and gas agreements to regulate their relationships with international oil and gas companies. These countries tailor petroleum fiscal regimes to fit their own desires. However, in some cases a host country may amend its petroleum fiscal regime due to changes in the internal and/or international economic and/or political environment or due to changes in the host government's energy policy. The story of the UK petroleum concession and fiscal regime may be unique; this is due to the employment of a unique concession type ...