2017 Global Oil and Gas Tax Guide

This guide summarizes the oil and gas corporate tax regimes in 87 countries. Use either the map below or the menu at right to see the guide’s information for a country.

This guide summarizes the oil and gas corporate tax regimes in 87 countries. Use the menu below to see the guide’s information for a country.

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“The lower for longer oil price outlook, continued volatility and a greater focus on global transparency, has meant governments of oil and gas producing countries have had to reassess their tax structures and revise them accordingly to stay competitive.”
– Alexey Kondrashov, EY Oil & Gas Tax Leader

Oil producing countries around the world are reconsidering how they tax the oil and gas industry in the ongoing oil price volatility. Our 2017 Global Oil and Gas Tax Guide summarizes the oil and gas corporate tax regimes in 87 countries and includes a directory of our global oil and gas tax and law contacts.

Competition drives tax policies

In competition for exploration and production investments, governments are working on making oil and gas tax regimes competitive and attractive to investors, some have moved quicker than others and have benefitted.

Forward-thinking governments review and revise their regimes continually, but with the sustained lower price environment, along with other basin challenges, governments are looking to quicken regime change.

Transformation in the spotlight

Decreased oil and gas prices have meant unconventional, difficult-to-recover projects, as well as many conventional oil and gas projects, have become marginal. Keeping projects economically viable will require some countries to impose new incentives or make adjustments to existing regimes.

Governments and the industry continue to see the potential of natural gas and shale projects, but with fluctuating oil and gas prices there is a balance to be struck in creating the right conditions for the industry to provide incentives for such projects.

This year’s guide includes:

About EY Global Oil & Gas Sector

Our global network of more than 10,000 oil and gas professionals have extensive experience in providing assurance, tax, transaction and advisory services across the upstream, midstream, downstream and oilfield service sub-sectors. For more information, please visit ey.com/oilandgas.

Tax information

The content is based on information current on 1 January 2017, unless otherwise indicated in the text of the chapter. This publication should not be regarded as offering a complete explanation of the tax matters referred to and is subject to changes in the law and other applicable rules. Local publications of a more detailed nature are frequently available, and readers are advised to consult their local EY professionals for more information.