OIL INDUSTRY MOUNTS PRESSURE ON GOVERNMENTS OVER FISCAL TERMS

Oil and gas industry pressure is growing for governments to adjust upstream fiscal terms downwards in response to the current low oil price, a new report by Wood Mackenzie has shown.

In a new two-part study, Wood Mackenzie explored the implications of the current low oil price for upstream fiscal terms, highlighting that governments dependent on oil taxation income are wrestling with lower oil revenues for public spending and pressure from oil and gas companies for more lenient terms.

 

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