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Economic analysis clarifies how Chad benefits from oil
07/28/2008
Contrary to previously published reports, Chad’s take (share of profits) from oil development is average by world standard.The oil-producing consortium in Chad operates under a progressive fiscal system in that the government share of profits increases as profitability increases. It is unclear, however, if the royalty would have protected the government if oil prices stayed at or below $15/bbl. With low oil prices, Chad may not have received a royalty in the early years of production. But with higher oil prices, Chad’s fiscal system appears to provide good returns for the government.Chad today receives about 70% of the profits from the oil development. This certainly is much h...
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