Exploring the elements of an optimal hydrocarbon fiscal regime

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cepal.bibLevelDocumento Completo
cepal.callNumberLC/TS.2023/11
cepal.docTypeSeries
cepal.jobNumberS2201299_en
cepal.regionalOfficePuerto España
cepal.sdg12
cepal.topicEngFOREIGN DIRECT INVESTMENT
cepal.topicEngGOVERNANCE OF NATURAL RESOURCES
cepal.topicEngNATURAL RESOURCES
cepal.topicSpaGOBERNANZA DE LOS RECURSOS NATURALES
cepal.topicSpaINVERSIÓN EXTRANJERA DIRECTA
cepal.topicSpaRECURSOS NATURALES
cepal.workareaEngNATURAL RESOURCES
cepal.workareaSpaRECURSOS NATURALES
dc.contributor.authorMcLean, Sheldon
dc.coverage.spatialEngBRAZIL
dc.coverage.spatialEngGUYANA
dc.coverage.spatialEngMEXICO
dc.coverage.spatialEngSURINAME
dc.coverage.spatialEngTRINIDAD AND TOBAGO
dc.coverage.spatialSpaBRASIL
dc.coverage.spatialSpaGUYANA
dc.coverage.spatialSpaMEXICO
dc.coverage.spatialSpaSURINAME
dc.coverage.spatialSpaTRINIDAD Y TABAGO
dc.date.accessioned2023-02-22T18:22:15Z
dc.date.available2023-02-22T18:22:15Z
dc.date.issued2023-02-22
dc.description.abstractThe study analyzes the process for the awarding of blocks among select countries within the western hemisphere, namely Brazil, Guyana, Mexico, Suriname and Trinidad and Tobago. The findings allow for the determination of key elements of what can be considered an optimal hydrocarbon fiscal regime for Caribbean economies that would allow governments to get their fair share of hydrocarbon rents, while ensuring sufficient exploration and production activity. The study therefore suggests that for the Caribbean, the optimal fiscal regime should include a reservation price, royalties, and a windfall tax. Mindful of the sunk costs which may be incurred by the multinationals in exploration and production activities, invariably, fiscal incentives would be necessary. The study, however, argues in favor of collusion among oil and gas endowed regional countries in pursuit of hydrocarbon sector FDI. This would simultaneously avoid the proverbial race-to-the-bottom and go a long way in optimizing each country’s hydrocarbon rents.
dc.description.tableOfContentsI. Modalities for awarding acreage and blocks .-- II. Exploration and Production acreage allocations and fiscal regimes in Latin America and the Caribbean .-- III. Comparison of fiscal regimes .-- IV. Policy recommendations .-- V. Conclusion.
dc.formatTexto
dc.format.extent48 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.unSymbolLC/TS.2023/11
dc.identifier.urihttps://hdl.handle.net/11362/48720
dc.language.isoeng
dc.physicalDescription48 p.
dc.publisherECLAC
dc.publisher.placePort-of-Spain
dc.relation.isPartOfSeriesStudies and Perspectives Series (The Caribbean)
dc.relation.isPartOfSeriesNo116
dc.rights.coarDisponible
dc.subject.unbisEngHYDROCARBONS
dc.subject.unbisEngNATURAL RESOURCES
dc.subject.unbisEngINDUSTRIAL PRODUCTION
dc.subject.unbisEngTAXATION
dc.subject.unbisEngFISCAL POLICY
dc.subject.unbisEngFOREIGN DIRECT INVESTMENT
dc.subject.unbisSpaHIDROCARBUROS
dc.subject.unbisSpaRECURSOS NATURALES
dc.subject.unbisSpaPRODUCCION INDUSTRIAL
dc.subject.unbisSpaTRIBUTACION
dc.subject.unbisSpaPOLITICA FISCAL
dc.subject.unbisSpaINVERSION EXTRANJERA DIRECTA
dc.titleExploring the elements of an optimal hydrocarbon fiscal regime
dc.type.coarlibro
dc.usergrouppubweb
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