FISCAL RATING OF OIL TERMS

Our publication World Fiscal Rating of Oil Terms will be available in February 2018. It rates more than 650 fiscal systems from more than 160 countries. The rating will be available for download and will include five separate documents:

  • Methodology and assumptions (PDF)
  • Main rating (PDF)
  • Detailed rating results (Excel)
  • Descriptions of each fiscal system (PDF)
  • Special reports (PDF)

The rating will be updated at least four times per year. The first Special Report will be on the Indonesian Gross Split. The next Special Report will be on the proposed Russian Petroleum Profits Tax. The topics for the third and fourth Special Report will depend on new fiscal developments occurring in the world.

The cost for a yearly subscription is US $4,900. The subscription includes the initial rating package (published in February 2018) and all subsequent updates made during 2018.

The rating is an update of our rating that was published in 2011-2013 (see our publications page for this study).

The rating is based on the fiscal terms only. The rating does not rate investment opportunities, taking into account different levels of costs and netback prices for the various systems.

However, the rating is based on a wide range of standard price and cost assumptions.

A description is provided for each fiscal system.

The rating includes onshore, shallow water and deep water systems. Onshore systems apply to North American systems based on wells and international systems based on fields or contract areas. It includes fiscal systems for conventional and unconventional oil and gas in the same rating.

The Excel spreadsheet with the detailed results will provide for all rating combinations for the price levels of $40, $50, $60, $70, and $80 per barrel and for the cost levels of $10, $15, $20, $25, and $30 per barrel. This will permit the subscriber to do their own economic analysis on the results.

For convenience, the subscriber will also be able to have access to the website and download any of the above combinations. Such downloads are color coded for the fiscal systems that the subscriber selected.

The Fiscal Rating is done for the following parameters (in real economic terms): undiscounted government take, government take discounted at 10%, undiscounted profit to investment ratio, 10% discounted profit to investment ratio, net cash flow per barrel, and the 10% discounted net present value per 10% discounted barrel.

This is the most extensive fiscal rating in the world. It is a very useful tool for governments and investors to judge whether certain terms are competitive and attractive. The Fiscal Rating is in particular very useful in combination with the subscription to our WORLD FISCAL MODEL, where the user can specify different prices and costs for each case.

CONTACT US for a subscription.

On the basis of a confidentiality agreement we will also rate a particular fiscal system that a government or company wants to propose. CONTACT US for a proposal.