Reform of the fiscal and subsidy regime for the petroleum sector based on a report commissioned by the Petroleum Federation of India

Cover of: Reform of the fiscal and subsidy regime for the petroleum sector |

Published by Indian Institute of Management in Ahmedabad .

Written in English

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Edition Notes

Microfiche. New Delhi : Library of Congress Office ; Washington, D.C. : Library of Congress Photoduplication Service, 2007. x microfiches Master microform held by: DLC.

Book details

StatementSebastian Morris, Jayanth Varma, and Samir K. Barua
Classifications
LC ClassificationsMicrofiche#
The Physical Object
FormatMicroform
Pagination96 p.
Number of Pages96
ID Numbers
Open LibraryOL24439576M
LC Control Number2010318740

Download Reform of the fiscal and subsidy regime for the petroleum sector

1 This paper is a vers ion of Report “A Study o f the Fiscal Regime for the Petroleum Se ctor in the Context of Rising Input Prices, of the Chan ges Required in the Sect or, and of a Plan of. Reform of the Fiscal and Subsidy Regime for the Petroleum Sector Reform of the oil sector is long overdue.

The problems in the sector emanate from the structure of central taxes and the system of subsidisation through prices. Solutions to the problems necessarily have to address both tax and subsidy.

Downloadable. Reform of the oil sector is long overdue. The problems in the sector emanate from the structure of central taxes and the system of subsidisation through prices. Solutions to the problems necessarily have to address both tax and subsidy simultaneously.

The social losses include, misuse / wasteful use of scarce petroleum resources, diversion, adulteration, other avoidable negative. Enter the password to open this PDF file: Cancel OK. File name:. Reform of the Fiscal and Subsidy Regime for the Petroleum Sector (Based on a Report Commissioned by the Petroleum Federation of India).

Reform of the oil sector is long overdue. The problems in the sector emanate from the structure of central taxes and the system of subsidisation through prices. Solutions to the problems necessarily have to address both tax and subsidy simultaneously.

The political economy of energy subsidy reform (English) Abstract. This book proposes a simple framework for understanding the political economy of subsidy reform andapplies it to four in-depth country studies covering more than 30 distinct episodes of key lessons by: Reform Bill (PIRB).

the PIB, all upstream companies will also be liable to Companies Income Tax (CIT). The Ministry of Petroleum Resources For both regimes (PIB and NPFP), the recently released the draft National petroleum profits tax (PPT) currently in Petroleum Fiscal Policy (NPFP) which is existence, will be no more.

Meaning from aFile Size: 86KB. Furthermore, subsidy reform can be complex when it involves efforts to reduce inefficiencies and production costs, as is often the case for the electricity sector.

Chapter 4 draws on lessons from reform experiences in 22 countries, which cover 28 reform episodes, based on. Fuel subsidy reform has been on the Indian government’s policy reform agenda over the last decade.1 A number of reports have been produced that analyze the approach to fuel pricing in India, the need for fuel subsidy reform, and reform options.2 India’s government has recently taken a number of measures to reform its fuel subsidy system.

The Petroleum Industry Governance Bill (PIGB) was passed by the Senate on 25 May If the House of Representatives concurs, The fine for contravention is sector of the petroleum industry value chain, and not put an end to the current subsidy regime.

The PIGB makes reference to the “Petroleum. different products. The following sections take a closer look at subsidy regimes for petroleum products and electricity.

Petroleum Products Three petroleum products, namely Pds kerosene, domestic lPg and diesel are sold for less than international market prices 6, with the government Reform of the fiscal and subsidy regime for the petroleum sector book a fiscal subsidy on lPg and Size: 2MB.

Sub-Saharan Africa: Posttax Subsidies for Petroleum and Quasi-fi scal Defi cits of Power Sector 54 Supplement Case Studies on Energy Subsidy Reform in Sub-Saharan Africa: Experiences and Lessons 1. Case Studies in Fuel Subsidy Reform 73 A.

Ghana 73 B. Namibia 79 C. Nig er 84 D. Nigeria 91 2. Case Studies of Electricity Subsidy Reform The Political Economy of Energy Subsidy Reform Gabriela Inchauste and David G. Victor, Editors Directions in Development Public Sector Governance.

Opposition to reform drew on the subsidy regime’s argued impacts in three broad areas: economic, social, and political. In order to inform debate on fuel subsidy reform in Nigeria, this paper seeks to evaluate the success of the subsidy regime in these three Size: KB.

The Energy Subsidy Reform Assessment Framework (ESRAF) proposes a guide to analyzing energy subsidies, the impacts of subsidies and their reforms, and the political context for reform in developing countries.

Reforming energy subsidies in a sustainable and socially responsible way requires a clear understanding of a range of economic, financial. GOOD PRACTiCE NOTE 9: ASSESSiNG THE POLiTiCAL ECONOMY OF ENERGY SUBSiDiES TO SUPPORT POLiCY REFORM OPERATiONS ACKNOWLEDGMENTS This is the ninth in the series of 10 good practice notes under the Energy Sector Reform Assessment Framework (ESRAF), an initiative of the Energy Sector Management Assistance Program (ESMAP) of the World Size: 1MB.

Fiscal reform will at best be part of the answer. History of the UK oil and gas fiscal regime. Period This chapter sets out more detail on the key elements of the fiscal regime.

“However, we demand for a framework for the domestic utilisation of petroleum products to properly guide the process as most Nigerians are unaware what the fuel subsidy regime idea is all about.

Reform must also ensure that the poor or vulnerable are not further marginalized. Beaton et al. note that risks to subsidy reform include short-term shocks to national GDP, rises in inflation, and reductions in international competitiveness of fuel-consuming sectors such as energy, agriculture, and transport (Beaton et al., ).

If subsidy Cited by: on Subsidy removal, Deregulation or Appropriate pricing. At the heart of each of these is the pricing and therefore, the cost of petroleum products to consumers andFile Size: KB.

The reform of the fuel subsidy regime is fundamental to the overhaul of the Nigerian economy and achievement of inclusive—and sustainable—economic diversification and Size: 2MB. The alarming scope of the recent Otedola/ Lawan oil subsidy bribe scandal is sufficient testament for reform in this sector.

The PIB is intended to serve as the grundnorm of a legal framework for the Nigerian oil and natural gas industry. Energy Subsidy Reform: Lessons and Implications Benedict Clements Fiscal Affairs Department International Monetary Fund November This presentation represents the views of the authors and Cited by: Reforms, subsidy, refineries top agenda for new petroleum minister.

tasked Buhari to address issues around reforms of the sector, subsidy, refineries and transparency issues that have gone a Author: Rapheal. Rising fuel subsidies have contributed to fiscal pressures in India. A key policy concern regarding subsidy reform is the adverse welfare impact on households, in particular poor households.

CSO’s Call Buhari to Reform the Downstream Sector of the Oil and Gas Industry Support Fund in the new no-subsidy regime. Clarity is required about. The Life Cycle of a Petroleum Project 3 3. Legal Arrangements in the Petroleum Industry 7 4.

Fiscal Regimes for the Petroleum Sector: Tax and Non-Tax Instruments 11 5. Designing Efficient Fiscal Systems 13 6. Fiscal Systems’ Measures and Economic Indicators 17 7. Designing Petroleum Fiscal Systems: Issues to be Considered 21 8. Conclusion File Size: KB.

The term environmental fiscal reforms (EFR) refers to a range of taxation and pricing measures that can raise fiscal revenues while furthering environmental goals. Environmental fiscal reform approaches and instruments complement and strengthen regulatory and other approaches to fiscal Cited by: 4.

Ghana’s Upstream Petroleum Fiscal System - What is it. Ghana’s Petroleum Fiscal Regime refers to a set of laws, regulations and agreements which; Regulate Ghana’s petroleum operations and Define the Host Government and the Contractor’s share of economic benefits accruing from petroleum. A review of the petroleum fiscal regime undertaken inled to the introduction of a new styled PSC, referred to as a “taxable PSC” that comprised three major features.

Firstly, Government received a Share of Profit Petroleum in lieu of some taxes viz Supplemental Petroleum Tax, Royalty, Petroleum Impost and Petroleum Levy.

But Director General, LCCI, Mr. Muda Yusuf, said: “Perhaps the biggest fiscal burden on the economy today is the petroleum subsidy regime.

It is a big hole in the finances of government. Fiscal Provisions of the Nigerian Petroleum Industry Bill: A not so quick-and-dirty assessment, Part II This part concludes Dr Omonbude’s feature article on the fiscal provisions of the PIB In the previous part of my note, I introduced and discussed two major features of the fiscal.

The petroleum fiscal regime of a country is a set of laws, regulations and agreements which governs the economical benefits derived from petroleum exploration and regime regulates transactions between the political entity and the legal entities involved.

A commercial or legal entity in this context is commonly an oil company, and two or more companies may establish partnerships. sector, but the country’s poor overall investment environment could prove an impediment.

Policymakers do not appear to be preparing for a transition from subsidy-based to market-based incentives, which poses risks to the strategy from further fiscal deterioration. In the next article, Tom Moerenhout considers Egypt’s experience, where.

"There will be no subsidy regime in petrol and diesel," Oil Minister Dharmendra Pradhan said. "Petrol price was deregulated in June and diesel in October and the same will continue." The surge in international oil prices has led to petrol prices being hiked for the fourth time since December and thrice in case of diesel.

Our fuel subsidy regime in my humble opinion does not meet the criteria. What specific economic activity is it targeting to stimulate. Petroleum sector reforms. We still have not seen the Author: Rapheal. NEW DELHI: The government has taken further steps to gradually reduce subsidy on kerosene, continuing the series of market-oriented reforms that have galvanised the petroleum sector and attracted big-ticket investment after an era of excessive controls, controversies and untargeted subsidies that made it difficult for private companies to operate.

In a recent communication, it has asked state Author: Sanjeev Choudhary. Anticipated petrol subsidy removal triggers panic-buying. “Perhaps the biggest fiscal burden on the economy today is the petroleum subsidy regime.

The reform of the oil and gas sector. The Federal Government may have finally ended the discredited fuel subsidy regime in the nation's public finance system with the reduction of the pump price of petrol from N to N last week. Energy Subsidy Reform. Subsidies, (Billions of U.S.

dollars); Figure Pretax Energy Subsidies by Region, ; Figure Pretax Petroleum Subsidies among Petroleum Importing and Exporting Countries, (Percent of GDP). Explicit Fiscal Subsidies for the Power Sector and the Cost of Thermal Generation, ; TABLE Assessing the Petroleum Fiscal Regimes of Nigeria, Ghana, and Cameroon Sara Zedingle Ghebremusse Master of Laws Faculty of Law University of Toronto Abstract Petroleum extraction is a lucrative source of tax revenue for many governments in Sub-Saharan Africa.

However the generation of oil tax revenue can be limited by the need to.Get this from a library! South Africa: technical assistance report; petroleum sector fiscal regime reform: additional analysis for the Davis Tax Committee.

[Philip Daniel; Alpa Shah; International Monetary Fund,; International Monetary Fund. Fiscal Affairs Department.] -- This report follows meetings between FAD and the Davis Tax Committee (DTC) -- Sub-Committee on Oil and Gas - in March

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