Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector
The relevance of the paper is caused by the peculiarity of introducing a tax on excess profits from the extraction of hydrocarbon feed (hereinafter referred to as EPT), the calculation of tax taking into account the economics of developing hydrocarbon deposits for the entire investment period. The l...
Published in: | E3S Web of Conferences |
---|---|
Main Author: | |
Format: | Article in Journal/Newspaper |
Language: | English French |
Published: |
EDP Sciences
2020
|
Subjects: | |
Online Access: | https://doi.org/10.1051/e3sconf/202016411046 https://www.e3s-conferences.org/articles/e3sconf/pdf/2020/24/e3sconf_tpacee2020_11046.pdf https://doaj.org/article/e26b26e875244d08bb71a3b91aa1a314 |
id |
fttriple:oai:gotriple.eu:oai:doaj.org/article:e26b26e875244d08bb71a3b91aa1a314 |
---|---|
record_format |
openpolar |
spelling |
fttriple:oai:gotriple.eu:oai:doaj.org/article:e26b26e875244d08bb71a3b91aa1a314 2023-05-15T15:06:11+02:00 Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector Galina Semenova 2020-01-01 https://doi.org/10.1051/e3sconf/202016411046 https://www.e3s-conferences.org/articles/e3sconf/pdf/2020/24/e3sconf_tpacee2020_11046.pdf https://doaj.org/article/e26b26e875244d08bb71a3b91aa1a314 en fr eng fre EDP Sciences 2267-1242 doi:10.1051/e3sconf/202016411046 https://www.e3s-conferences.org/articles/e3sconf/pdf/2020/24/e3sconf_tpacee2020_11046.pdf https://doaj.org/article/e26b26e875244d08bb71a3b91aa1a314 undefined E3S Web of Conferences, Vol 164, p 11046 (2020) eco geo Journal Article https://vocabularies.coar-repositories.org/resource_types/c_6501/ 2020 fttriple https://doi.org/10.1051/e3sconf/202016411046 2023-01-22T19:12:00Z The relevance of the paper is caused by the peculiarity of introducing a tax on excess profits from the extraction of hydrocarbon feed (hereinafter referred to as EPT), the calculation of tax taking into account the economics of developing hydrocarbon deposits for the entire investment period. The level of tax penalty depends on the profitability of each subsoil plot separately, which will allow the introduction of low-profitable hydrocarbon deposits containing hard-to-recover reserves into development. Nowadays, a differentiated approach is being applied to setting the mineral extraction tax (hereinafter - MET) for oil depending on geographic and climatic conditions, complexity of field development, physical and chemical properties of oil (arctic conditions, offshore projects, new and developed deposits, high viscosity oils, hard-to-recover reserves and others). The introduction of EPT is caused by the need to engage oil reserves, which are currently unprofitable under the existing tax system, in commercial development. The introduction of EPT will allow for an increase in tax revenues both from an increase in the total volume of oil production and through more equitable taxation of ultra-efficient projects. Article in Journal/Newspaper Arctic Unknown Arctic E3S Web of Conferences 164 11046 |
institution |
Open Polar |
collection |
Unknown |
op_collection_id |
fttriple |
language |
English French |
topic |
eco geo |
spellingShingle |
eco geo Galina Semenova Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
topic_facet |
eco geo |
description |
The relevance of the paper is caused by the peculiarity of introducing a tax on excess profits from the extraction of hydrocarbon feed (hereinafter referred to as EPT), the calculation of tax taking into account the economics of developing hydrocarbon deposits for the entire investment period. The level of tax penalty depends on the profitability of each subsoil plot separately, which will allow the introduction of low-profitable hydrocarbon deposits containing hard-to-recover reserves into development. Nowadays, a differentiated approach is being applied to setting the mineral extraction tax (hereinafter - MET) for oil depending on geographic and climatic conditions, complexity of field development, physical and chemical properties of oil (arctic conditions, offshore projects, new and developed deposits, high viscosity oils, hard-to-recover reserves and others). The introduction of EPT is caused by the need to engage oil reserves, which are currently unprofitable under the existing tax system, in commercial development. The introduction of EPT will allow for an increase in tax revenues both from an increase in the total volume of oil production and through more equitable taxation of ultra-efficient projects. |
format |
Article in Journal/Newspaper |
author |
Galina Semenova |
author_facet |
Galina Semenova |
author_sort |
Galina Semenova |
title |
Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
title_short |
Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
title_full |
Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
title_fullStr |
Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
title_full_unstemmed |
Tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
title_sort |
tax on excess profits from extraction of hydrocarbon feed as a completion tax maneuver in the oil and gas sector |
publisher |
EDP Sciences |
publishDate |
2020 |
url |
https://doi.org/10.1051/e3sconf/202016411046 https://www.e3s-conferences.org/articles/e3sconf/pdf/2020/24/e3sconf_tpacee2020_11046.pdf https://doaj.org/article/e26b26e875244d08bb71a3b91aa1a314 |
geographic |
Arctic |
geographic_facet |
Arctic |
genre |
Arctic |
genre_facet |
Arctic |
op_source |
E3S Web of Conferences, Vol 164, p 11046 (2020) |
op_relation |
2267-1242 doi:10.1051/e3sconf/202016411046 https://www.e3s-conferences.org/articles/e3sconf/pdf/2020/24/e3sconf_tpacee2020_11046.pdf https://doaj.org/article/e26b26e875244d08bb71a3b91aa1a314 |
op_rights |
undefined |
op_doi |
https://doi.org/10.1051/e3sconf/202016411046 |
container_title |
E3S Web of Conferences |
container_volume |
164 |
container_start_page |
11046 |
_version_ |
1766337842995265536 |