HOT SPOTS COOLED BY HOTTEST TAXES

The recent tumble in crude oil prices to $13 14/bbl has made many countries' petroleum fiscal regimes appear prohibitive. A study of 70 government tax levels by Petroconsultants SA, Geneva, showed that Yemen, for example, changed from hot Spot to black spot in 3 years. State take was estimated under each country's regime for three classes of field development designated marginal, economic, and upside, based on net present value of hypothetical projects.

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