The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and which faces price uncertainty. In states where profits are high, there is a likelihood of expropriation,which generates a social cost that increases with the expropriated value. In...

This paper provides a conceptual overview of economists' attempts to learn about the effects of taxes on extractive resources. The emphasis is on research methods and techniques, with no attempt to provide a comprehensive tabulation of previous empirical results or policy conclusions regarding...

Oil and gas sector remains the backbone of the Russian economy and produces the lion’s share of the state budget revenues and of the trade balance. Acute oil price fluctuations which took place on the free market, reduction in demand for gas, as well as objective fall in the oil and gas...

There is an increasing tension between the Iranian Government and the west on an increasingly likely European oil embargo and the Iranian threat to close the Strait of Hormuz. The main question is: What will happen to the international oil prices in the case of shocks in the flow of Iranian oil...

There is an increasing tension between the Iranian Government and the west on an increasingly likely European oil embargo and the Iranian threat to close the Strait of Hormuz. The main question is: What will happen to the international oil prices in the case of shocks in the flow of Iranian oil...

Income and social indicators, GDP by current prices, supply and use of resources at current prices, savings and investment balances, crude oil production and prices, capital expenditure and oil exploration, discovered oil fields, mineral production, exports, and prices, production and export of...

The paper reviews the background and the existing institutional framework for oil sector development in São Tomé and Príncipe and the challenges faced in implementing transparency rules in all oil-related transactions. It provides a quantitative analysis of the impact of oil sector...

Statistical data and issues are discussed in this paper. Mauritania reached the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. In July 2004, a new economic team took actions to tighten fiscal and monetary policies. The authorities intend to adopt sound...

This paper analyzes the Thai petroleum fiscal regimes, so called Thailand I and Thailand III, under the concession system for granting petroleum exploration and production rights. The analytical issues include the sharing of benefit between the government and concessionaires, assurance of the...