2013 global oil and gas tax guide
Our annual guide provides information about oil and gas tax regimes in 74 countries and a directory of our global oil and gas tax contacts.
How can this guide help you?
Our guide can help you implement local tax legislation, which varies greatly from general corporate tax regimes.
Development of unconventional oil and gas, shale oil and gas in particular, is economically possible under current oil prices and many countries see it as a policy objective and are working on altering fiscal framework to provide incentives for such projects.
The impact of changes to the tax law may affect available cash to establish reserves or to service debt which can negatively affect the balance sheet, with the result that credit agreements and covenants may need to be examined closely.
Here are some of the broader changes which influenced the tax regulations in this year's guide.
- Upstream: Governments worldwide still rely heavily on production sharing arrangements for upstream projects owing to their reasonable flexibility in risk or reward sharing and possibility to arrange for a tailored solution based on the project’s specifics.
- Arctic reserves: Activities around the technically challenging offshore Arctic resources vary across the Arctic nations. Notably, Russia is actively attracting international majors and working on a special tax regime for offshore Arctic to boost exploration.
- Hydrocarbon reserves: New frontier countries in which hydrocarbon reserves have just been discovered, such as the African nations, Cyprus Lebanon, Israel and Myanmar are working toward designing their national legal and tax legislation for the oil and gas industry.
“Now more than ever, it is vital for governments to make oil and gas tax regimes competitive and attractive to investors.”
— Alexey Kondrashov, Oil & Gas Tax Leader
To gain valuable insights, start using our interactive oil and gas tax guide today.