An economic evaluation of oil fiscal regimes

منو

" An economic evaluation of oil fiscal regimes "
Maria Pilar Medina

Document Type	:	Latin Dissertation
Language of Document	:	English
Record Number	:	52884
Doc. No	:	TL22838
Call number	:	‭MR05411‬
Main Entry	:	Maria Pilar Medina
Title & Author	:	An economic evaluation of oil fiscal regimes\ Maria Pilar Medina
College	:	University of Calgary (Canada)
Date	:	2005
Degree	:	M.A.
student score	:	2005
Page No	:	98
Abstract	:	This paper presents a utility maximization model to evaluate the impact of alternative oil fiscal regimes, which define the type of "contract" between a host government and a foreign oil company (FOC). Specifically, in order to determine the optimal fiscal regime, we use four fiscal systems (i.e. bonus bidding, income tax, royalties and production sharing agreement with cost recovery) to analyze how the utility of each of the parties change when each of these regimes is applied. It is found that the most efficient fiscal regime will depend not only on the endogenous variables defined in the model (i.e. reserve size, price, tax rate, investment, probability of finding oil, and firm's effort), but also of the risk aversion level exhibited by the host government and the FOC.
Subject	:	Social sciences; Economics; Economic models; Petroleum industry; Host country; Contracts; Bonuses; Income taxes; Royalties; Cost recovery; Studies; 0501:Economics
Added Entry	:	University of Calgary (Canada)