Labour and productivity: exploring alternative solutions

2012 ◽  
Vol 52 (2) ◽  
pp. 651
Author(s):  
Allan Drake-Brockman ◽  
Daniel White
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Union Power ◽  
Gas Industry ◽  
Wage Rates ◽  
Skills Shortage ◽  
Increase In Productivity ◽  
Skills Shortages ◽  
Alternative Solutions

A serious skills shortage and increasing wage rates with no apparent increase in productivity is facing Australia’s oil and gas industry. The measures announced in the 2011–12 Federal Budget on 10 May do not appear to address the skills shortage crisis and may affect the viability of some projects.This extended abstract proposes some solutions to alleviate the existing skills shortages facing offshore resource projects. It also discusses some of the structural inefficiencies in the Fair Work Act 2009 (Cth) that is contributing to these issues.Under the Regional Sponsored Migration Scheme, the Federal Budget included an increase of skilled migration from 10,000–16,000 places in 2011–12. This is in contrast to the calls from Western Australia’s resources industry suggesting about 33,000 workers will be needed by the end of this year. The major changes to Australian labour laws brought by the FW Act is said to have resulted in uncertainty about some projects.Evidence of the shift to a collective (enterprise) bargaining framework based on delivering productivity increases is not yet available. An enhanced role for union officials seems to have resulted in an increase in union power and union influence in enterprise bargaining. This may be a reason for wage blow-outs in the oil and gas industry.

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

The Financial Significance of the Oil and Gas Sector for the Russian Economy

2012 ◽  
pp. 76-91
Author(s):  
L. Eder ◽  
I. Filimonova
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
International Markets ◽  
Balance Of Payments ◽  
Financial Indicators ◽  
Gas Industry ◽  
Russian Economy ◽  
Oil And Gas Companies ◽  
Oil And Gas Sector

The article describes the complex of economic and financial indicators reflecting the results of Russia’s oil and gas industry in 2011. Price environment of the major energy resources with regard to their realization at the domestic and international markets is analyzed. Main indicators of economic performance of the oil and gas industry (revenue, profit, profitability) are reviewed with differentiation by companies. The authors consider the tax burden for the oil and gas companies; show their role in forming federal budget revenues. The paper presents the analysis of specialized funds and reserves that are formed at the expense of oil and gas industry sources; examines Russia’s balance of payments as well as revenues generated by oil and gas exports. The stock market structure of Russia and the world is described with consideration of particular oil and gas companies.

scholarly journals MODERN STATE AND ROLE OF TAX RECEIPTS FROM OIL INDUSTRY IN FORMING OF PROFITABLE PART OF FEDERAL BUDGET OF RUSSIAN FEDERATION

2017 ◽  
Vol 13 (1-2) ◽  
pp. 102-105
Author(s):  
Elena N Gorbunova ◽  
Tatiana V Psuk
Keyword(s):  
Russian Federation ◽  
Oil And Gas ◽  
Federal Budget ◽  
Oil Industry ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Long Period ◽  
Strategic Value ◽  
The Subject

Oil and gas industry has a strategic value for forming of profitable part of the budgetary system. Taxation of booty of oil in our country was and remains the subject of special discussion. During a long period the Russian legislation concerning taxation in oil industry was aimed to provide at any cost a due level of tax receipts in the budget of Russian Federation. In this connection, the article reveals the content of the tax system in oil industry and opens up estimation of consequences of its changes during the last years. The special attention is spared to the analysis of receipts of taxes from oil industry in the budget of Russian Federation. An author draws conclusion, that for providing continuous and stable stream of tax receipts in the budget of Russian Federation it is necessary to perfect the system of taxation in oil industry.

Exploiting the industry skills shortage as a competitive advantage

2010 ◽  
Vol 50 (2) ◽  
pp. 715
Author(s):  
Piers Tonge
Keyword(s):  
Competitive Advantage ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Short Supply ◽  
Business Consulting ◽  
Skills Shortage ◽  
Exploration And Production ◽  
Disproportionate Number

Developing skilled petro-technical professionals (PTPs) has the greatest lead-time of any activity that oil and gas companies undertake today. Australia could double its gas production by 2020, which would create 50,000 new jobs. This will intensify competition for skilled petrotechnical professionals, and may drive up people costs. The market for PTPs in Australia is tight today, with active competition for technical talent between the oil and gas industry and other extractive industries. Conventional and unconventional oil and gas projects on Australia’s west and east coasts are already chasing the same, limited, talent pool. Competition for experienced PTPs will be intensified by the impending crew change, with a disproportionate number of experienced PTPs due to retire from Australia’s oil and gas industry over the next decade. Schlumberger Business Consulting has been benchmarking the people situation in the global oil and gas industry for the past six years, and working with exploration and production companies to address it. This paper will present our analysis of the global, and Australian, situation, with quantification of the skill balance through our demand and supply model. It will also highlight specific technical skills that will be in short supply, implications of the skills shortage, as well as potential mitigations to create competitive advantage.

Australian oil and gas exploration: the dawn of a new fiscal regime?

2014 ◽  
Vol 54 (2) ◽  
pp. 529
Author(s):  
Kenneth Wee ◽  
Janelle O'Hare
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Narrow View ◽  
Analytical Work ◽  
Recent Developments ◽  
Fiscal Regime ◽  
Oil And Gas Sector

The ever-evolving Australian tax landscape has brought particular attention to the scope of exploration activities in the oil and gas industry in recent times. While recent developments have attempted to shed light on the interpretation of œexploration expenditure, the narrow view adopted has raised more questions than answers, which may significantly impact the after-tax economics of projects in the oil and gas industry. Examples include: the recent AAT decision in the ZZGN case and the commissioner’s views set out in the draft taxation ruling TR 2013/D4 on the scope of deductible exploration expenditure in the PRRT context; and, the then Labor-led federal government’s proposed changes in the 2013–14 federal budget to limit an upfront deduction on œgenuine exploration activities for income tax purposes, which would have a far-reaching impact. Broadly, the recent reforms seek to limit the application of the exploration expenditure deductibility rules to the technical analytical work undertaken to evaluate/appraise the resource and expenditure incurred in direct relationship with said technical work. This presents various tax technical, commercial and practical issues that signal a new dawn in the approach to exploration expenditure for participants in the oil and gas industry. This extended abstract analyses the recent reforms and their impact on the oil and gas sector, provides an outlook of the new direction of potential fiscal change, and assesses what this might mean for the Australian oil and gas industry.

scholarly journals Recent Developments in Federal Taxation of Interest to the Resource Industries

1985 ◽  
Vol 24 (1) ◽  
pp. 115
Author(s):  
Robin J. MacKnight
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Recent Developments ◽  
Cut Set ◽  
Federal Taxation ◽  
Legislative Changes

This paper considers certain aspects of the proposed legislative changes to the Income Tax Act (Canada) and the Petroleum and Gas Revenue Tax Cut set out in the January 30, 1985 and May 9, 1985 Notices of Ways and Means Motions, the Western Accord and the federal budget of May 23, 1985 which may be of interest to advisers to the oil and gas industry. Certain of these changes have been incorporated in Bill C-72, which was passed October 29, 1985, and draft amendments to the Petroleum and Gas Revenue Tax Act released September 16, 1985.

Worker protection in the Migration Act and Regulations: illusion or reality in the offshore oil and gas industry?

2013 ◽  
Vol 53 (2) ◽  
pp. 465
Author(s):  
Chris Barton
Keyword(s):  
Migrant Workers ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Federal Court ◽  
Gas Field ◽  
Gas Industry ◽  
Stakeholder Consultation ◽  
Offshore Oil And Gas ◽  
Offshore Oil ◽  
Skills Shortages

Reforms to the Migration Act and Regulations in 2008 were designed to prevent the subclass 457 visa program from being used to exploit migrant workers and undercut Australian conditions. Stakeholder consultation, market-rate requirements, and ongoing compliance obligations extending to workplace and occupational health and safety laws were intended to restore confidence in the integrity of the temporary skilled migration scheme. The application of Australia’s migration laws to the offshore oil and gas industry is complicated by issues surrounding the definition of the migration zone and confusion about the circumstances in which employees may or may not require a visa to work. The recent Federal Court decision in Allseas Construction SA and the Minister for Immigration and Citizenship found that overseas employees working on vessels engaged in laying gas field pipelines are not working in the Australian migration zone and therefore are not required to have working visas. Recent changes to the employer sanctions regime were intended to discourage employers from breaching the rules and encourage strict compliance. Some overseas workers, however, are excluded altogether from regulation under the Migration Act and Regulations, even though the skills shortages in the resources sector have created strong demand for overseas workers. Unions and others have, therefore, expressed renewed concerns about the potential for overseas workers to be exposed to underpayment, abuse, and substandard working conditions.

PROBLEMS AND PROSPECTS FOR THE DEVELOPMENT OF THE FUEL AND ENERGY COMPLEX OF RUSSIA IN THE CONTEXT OF THE COVID-19 PANDEMIC (on the example of the oil and gas industry)

2020 ◽  
Vol 5 (11) ◽  
pp. 22-32
Author(s):  
V. V. VELIKOROSSOV ◽  
◽  
A. K. ZAKHAROV ◽  
Ya. V. NAZARENKO ◽  
◽  
...  
Keyword(s):  
Oil And Gas ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Energy Strategy ◽  
Gas Industry ◽  
Energy Complex ◽  
World Energy ◽  
The Russian Federation ◽  
Gas Markets ◽  
The Impact

The concept of “fuel and energy complex” is analyzed, the impact of the oil and gas industry on the federal budget of the Russian Federation is assessed. The key problems and promising directions for the development of oil and gas markets, including taking into account the impact of the COVID-2035 pandemic and the Energy Strategy of Russia until XNUMX, are considered. Conclusions and recommendations on possible further directions of development of the country's fuel and energy complex and its interaction with world energy markets were formed.

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