UK Petroleum Concession and Fiscal Regime: Comparative Analysis of UK and Russia Petroleum Taxation Included (Oil and Gas Law Book 2)
by Johnathan Borg
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.
This book analyse the development of the tax regime in the United Kingdom Continental Shelf from 1975 up to date. 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.
As a case study, a comparative analysis of fiscal and regulatory regimes of two countries: the United Kingdom and the Russian Federation will be given. The reason why the Russian Federation has been chosen is its employment of a completely different fiscal and regulatory system to that of the United Kingdom.
This is the second book of the Oil and Gas Law Series. Please check my first book of the series: CONTRACTUAL RISKS MANAGEMENT IN OIL AND GAS CONTRACTS + INCLUDING MACONDO DISEASTER CASE STUDY