National regulatory framework on economic benefits from petroleum production
This article is about typical features of a petroleum fiscal regime. For the more distinctive system in the US, see oil and gas law in the United States.
The petroleum fiscal regime of a country is a set of laws, regulations and agreements which governs the economical benefits derived from petroleum exploration and production. The regime regulates transactions between the political entity and the legal entities involved.[1] A commercial or legal entity in this context is commonly an oil company, and two or more companies may establish partnerships to share economic risks and investment capital.
Although petroleum, oil and gas, and hydrocarbons are not technically mineral resources, the term mineral rights is used to denote rights to exploit oil and gas resources from the underground. Onshore, in United States, the landowner possesses exclusive rights for mineral rights, elsewhere generally the state does.[1] For this reason, the fiscal regime of US is divergent from that of other countries. The petroleum licensing system of a country may be considered interwoven with the fiscal regime, however, a licensing system has its distinct function: to grant rights for petroleum exploration and production to commercial entities.
Because each country has distinctive legislation, there are theoretically just as many different fiscal regimes as there are countries in the world with petroleum resources, but the regimes can still be categorized based on their common characteristics.
^ abCite error: The named reference GudmestadZolotuchin2010P199 was invoked but never defined (see the help page).
and 28 Related for: Petroleum fiscal regime information
The petroleumfiscalregime of a country is a set of laws, regulations and agreements which governs the economical benefits derived from petroleum exploration...
The following is a list of notable companies in the petroleum industry that are engaged in petroleum exploration and production. The list is in alphabetical...
Occidental Petroleum Corporation (often abbreviated Oxy in reference to its ticker symbol and logo) is an American company engaged in hydrocarbon exploration...
Petroleum products are materials derived from crude oil (petroleum) as it is processed in oil refineries. Unlike petrochemicals, which are a collection...
Petroleum engineering is a field of engineering concerned with the activities related to the production of hydrocarbons, which can be either crude oil...
shelf, and are subject to a higher rate of corporation tax. This petroleumfiscalregime can be seen in other countries as well. In the case of loans or...
Nigerian National Petroleum Corporation (NNPC) is a for profit oil company in Nigeria. Formerly a government-owned corporation, it was transformed from...
Petroleum politics have been an increasingly important aspect of diplomacy since the rise of the petroleum industry in the Middle East in the early 20th...
– which provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary...
in Equatorial Guinea. The company's proved reserves consisted 52% of petroleum, 30% natural gas and 18% natural gas liquids. In 2020, the company sold...
Petroleum industry in Guyana is rapidly evolving. Guyana has emerged as one of the newest petroleum producing regions in the world, achieving its first...
BP p.l.c. (formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c.; stylised bp) is a British multinational oil and gas company headquartered...
The American Petroleum Institute (API) is the largest U.S. trade association for the oil and natural gas industry. It claims to represent nearly 600 corporations...
simply Aramco (formerly Arabian-American Oil Company), is a state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia...
1988–2015. Shell was formed in April 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company...
Kuwait Petroleum Corporation (Arabic: مؤسسة البترول الكويتية; KPC) is Kuwait's major national oil company, headquartered in Al Kuwait. The activities...
In November 2019, ADNOC received approval from the emirate’s Supreme Petroleum Council to list its flagship Murban crude oil as a futures contract on...
Crude oil marker is also known as Brent Blend, London Brent and Brent petroleum. This grade is described as light because of its relatively low density...
The Organization of the Petroleum Exporting Countries (OPEC, /ˈoʊpɛk/ OH-pek) is an organization enabling the co-operation of leading oil-producing countries...
structure of the Baltic Shield, seismic discontinuities and the thermal regime in the Earth's crust, the physical and chemical composition of the deep...
gas. It was formed by the merger of Hess Oil and Chemical and Amerada Petroleum in 1968. Leon Hess was CEO from the early 1960s through 1995, after which...
The name petroleum covers both naturally occurring unprocessed crude oil and petroleum products that consist of refined crude oil. Petroleum is primarily...
of reserves conducted by DeGolyer and MacNaughton and according to the Petroleum Resources Management System standards, the company's proven reserves at...
and gas operating company. In 1977, the company sold Apexco and its non-petroleum holdings, including the ranch, and reinvested into a farm-in agreement...
Nigeria, spanning multiple business sectors such as the agro-allied, petroleum, telecommunications, power, real estate, and banking industries. Hosa...
China Petroleum and Chemical Corporation, or Sinopec, is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades...
corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The company's name translates to Brazilian Petroleum Corporation — Petrobras...
The China National Petroleum Corporation (CNPC) (Chinese: 中国石油天然气集团公司; pinyin: Zhōngguó Shíyóu Tiānránqì Jítuán Gōngsī) is a major national oil and gas...
Global Information