The story of the UK oil and gas taxation policy: history and trends

ABDO, H., 2010. The story of the UK oil and gas taxation policy: history and trends. Oil, Gas & Energy Law Intelligence (OGEL), 8 (4). ISSN 1875-418X

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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 of agreement which no longer includes a royalty charge as a key element of its fiscal regime. The UK concession model is described as accommodating private interest under public control. This paper details the UK petroleum fiscal regime in its historical context. The aim is to illustrate the development of the UK oil and gas taxation system on one hand and to highlight the many trends that developed in this fiscal regime over time. Our approach will be based on detailing the many changes to the UK petroleum tax regime and on calculating the resulting marginal petroleum tax rate as a consequence of any petroleum tax reform.

Item Type: Journal article
Description: Part of the OGEL special issue on Host Government Contracts in the Upstream Oil and Gas Sector
Publication Title: Oil, Gas & Energy Law Intelligence (OGEL)
Creators: Abdo, H.
Publisher: OGEL
Date: 2010
Volume: 8
Number: 4
ISSN: 1875-418X
Rights: © Copyright OGEL 2010
Divisions: Schools > Nottingham Business School
Depositing User: EPrints Services
Date Added: 09 Oct 2015 10:03
Last Modified: 19 Oct 2015 14:26
URI: http://irep.ntu.ac.uk/id/eprint/6910

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