BUSINESS AND TAX ISSUES FOR PETROLEUM EXPLORATION AND DEVELOPMENT COMPANIES INVESTING IN THE UNITED STATES OF AMERICA

1991 ◽  
Vol 31 (1) ◽  
pp. 494
Author(s):  
Catherine A. Hayne
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The United States ◽  
Detailed Examination ◽  
Petroleum Exploration ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Corporate Executives ◽  
Exploration And Production

Oil and gas exploration and production opportunities in the United States represent possibilities for investment by Australian petroleum companies in the 1990s. This paper focuses on the unique characteristics of the oil and gas industry, and is intended as an entrepreneurial guide to some of the practical business and tax issues which corporate executives will confront when proposing to do business in the United States. It provides a detailed examination of the key issues, but, due to the complexity of United States and Australian laws, this paper should not be used as a substitute for detailed advice.

Offshore Oil Spill Incidents: Creating a Database in Brazil

2014 ◽  
Vol 2014 (1) ◽  
pp. 26-30
Author(s):  
Patricia Maggi ◽  
Cláudia do Rosário Vaz Morgado ◽  
João Carlos Nóbrega de Almeida
Keyword(s):  
Oil Spill ◽  
Oil And Gas ◽  
Oil Spills ◽  
Oil And Gas Industry ◽  
Guanabara Bay ◽  
Federal Law ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Exploration And Production ◽  
Offshore Oil

ABSTRACT Brazil has performed an important role in the oil and gas industry mainly because its offshore E&P activities. The volume of oil produced in offshore fields had increased 88% in the last decade and correspond to more than 90% of national production. The maritime Exploration and Production (E&P) operations in Brazil started in the middle of the 1970's. In 1981 a law was promulgated to establish a compulsory environmental permit to many activities, including oil and gas exploration and production activities. Although this regulation has existed for over 25 years, only in 1999 was it effectively brought into force to the E&P sector, with the creation of the oil and gas specialized office integrated to the Intituto Brasileiro de Meio Ambiente e Recursos Naturais Renováveis – IBAMA (Brazilian Federal Environmental Agency). On January 2000 Brazil faced one its worst oil spills, in Guanabara Bay. A broken pipeline owned and operated by Petrobras spilt 1300 tone of bunker fuel into Guanabara Bay, Rio de Janeiro. At that time, Brazil had no clear environmental scenario regarding the oil industry in Brazil: uncoordinated environmental regulations, debilitated environmental agencies and a relapse industry took part in the scenario. As a result of the repercussion of the disaster, in the same year was enacted the Federal Law 9966/2000, the so called “Oil Law”, on the prevention, control and inspection of pollution caused by the releasing of oil and other harmful substances in waters under national jurisdiction. The provisions of the Law 9966 included, among other things, the requirement for the notification to the competent environmental authority, the maritime authority and the oil regulating agency, of any incident which might cause water pollution. Although IBAMA receives the oil spill communications since 2001, only in 2010 the Agency began to include this information in a database. This paper discusses the offshore oil spill data received between 2010 and 2012.

scholarly journals Penyusunan Sistem Pengembangan Karyawan Melalui Pelatihan dengan Pendekatan Appreciative Inquiry

2020 ◽  
Vol 4 (2) ◽  
pp. 102
Author(s):  
Edwarsyah Edo ◽  
Seger Handoyo ◽  
Maria Eko Sulistyowati
Keyword(s):  
Appreciative Inquiry ◽  
Oil And Gas ◽  
Continuous Production ◽  
Oil And Gas Industry ◽  
Training And Development ◽  
Exploration And Exploitation ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Inquiry Approach ◽  
Exploration And Production

One of the biggest challenges in the oil and gas industry in the upstream sector is sustainable of oil and gas exploration and exploitation activities to keep the field in continuous production. Successful exploration and production activities cannot be separated from the ability and management of human resources in the company. The company requires professional and high qualifications workforce in managing upstream oil and gas business activities that have characteristics of high capital, risk and technology intensives. This research was conducted with the aim of compiling an employee development system through training with the Appreciative Inquiry approach. The research method is qualitative using the stages of 4D Appreciative Inquiry. The results showed that the Appreciative Inquiry approach could bring out the positive strengths and core-values that exist within the organization, and make a commitment from the organization to do better in terms of employees training and development.

How does a community add value to the oil and gas industry?

2016 ◽  
Vol 56 (2) ◽  
pp. 571
Author(s):  
Stuart Trundle ◽  
Anne Probert
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Community Stakeholders ◽  
Exploration And Production ◽  
Oil And Gas Companies ◽  
Industry Community ◽  
Community Relationship ◽  
Insight Into

As pressure mounts for oil and gas companies to demonstrate tangible value to the communities in which they operate, there is a growing imperative for groups to actively engage with the industry and its operators. Regions who partner with the industry to identify and implement initiatives that leverage the investment can see very real economic and social gains from hosting oil and gas exploration and production. Venture Taranaki, the regional development agency for New Zealand’s only commercially producing oil and gas region, has been part of such a successful partnership in that area. They have worked extensively in the space between the industry and the community to maximise the benefits to the region. In doing so they have helped position Taranaki as a force in New Zealand’s economy, and it has developed initiatives that demystify and demonstrate the industry’s value to their community stakeholders, extending this momentum across the oil and gas supply chain. Its commercially neutral services have also advanced collaboration among the companies, fostered collective promotion of their capabilities, and assisted with management of demand-supply challenges in relation to project and shutdown planning. In this extended abstract the authors give an insight into their experiences, lessons for other regions, and proposals to further advance the industry-community relationship.

The Greenhouse Effect and the Resource Management Act, as Related to Oil and Gas Exploration and Production

1995 ◽  
Vol 13 (2-3) ◽  
pp. 207-220
Author(s):  
R W Plume
Keyword(s):  
New Zealand ◽  
Forest Cover ◽  
Oil And Gas ◽  
National Policy ◽  
Oil And Gas Industry ◽  
Policy Statement ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Exploration And Production ◽  
The Government

The release of CO2 into the atmosphere - and more specifically its consequential effect on global temperature – is now more-or-less universally acknowledged as a significant international environmental problem. Known colloquially as the Greenhouse Effect, it is the subject of the UN Framework Convention on Climate Change. That convention commits its signatories to specific actions directed at stabilising emissions of greenhouse gases (including CO2) at 1990 levels. It was signed at the UN Conference on Environment & Development (the “Earth Summit” which was held in Rio de Janeiro in 1992) by 153 countries including New Zealand. New Zealand has now officially ratified the Convention and has thus effectively committed itself to participate in international programmes of CO2 emission reduction. The Resource Management Act 1991 requires regulatory authorities to consider the environmental effects of activities in their jurisdiction. Carbon dioxide is now considered to be a “contaminant” as defined in the Act and it therefore becomes contingent upon local authorities to determine a suitable response to the problem of CO2 emissions. Regional and district policy statements and plans are required to be consistent with the national policy statement. Although a national policy statement on CO2 emissions does not yet exist it can be expected that eventually the approval of resource consents for oil and gas exploration and production activities typically will require specific actions relating to the release of CO2. The increase of CO2 in the atmosphere is almost entirely the direct result of two fundamental and worldwide activities: the combustion of fossil fuels and the removal of forest cover. When burned, hydrocarbons add large quantities of CO2 to the atmosphere. The removal of forest cover reduces the ability of the ecosystem to extract CO2 from the atmosphere by photosynthesis. The oil and gas industry is, of course, the source of a large proportion of the hydrocarbons used for energy and other purposes. It can therefore be expected that governments (including New Zealand) will focus on various aspects of the industry in their efforts to meet the reduction goal. Until recently the central Government approach to CO2 emission reduction was to implement the so-called no regrets policies which are desirable goals (e.g. increased energy efficiency) which have the positive spin-off effect of reducing CO2 emissions. By themselves such policies are likely to be inadequate to meet the internationally accepted reduction target. The Government must therefore implement more stringent measures. As the matter now stands the Government is investigating a diverse range of methods for reducing CO2 emissions. Because CO2 emissions and energy use are inextricably linked, reducing CO2 emissions can clearly have a detrimental effect on economic development. The 'holy grail' of policy development in this area is to reduce CO2 emissions without producing harmful effects on the economy. Several options (and myriad variations on the theme) have been put forward including, for example, carbon taxes and tradeable quotas. These options and others are now being assessed by Government officials. The industry should be alert to the distinct possibility that policy will focus directly on oil and gas production. From a regulatory point of view such an approach has an enticing simplicity but the effect on the oil and gas industry may prove to be less than desirable.

scholarly journals American Tax Considerations in the Drafting of Canadian Joint Operating Agreements

1970 ◽  
Vol 8 (2) ◽  
pp. 187
Author(s):  
John F. Curran
Keyword(s):  
United States ◽  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
The United States ◽  
Gas Industry ◽  
Internal Revenue ◽  
Tax Laws ◽  
The Status ◽  
Tax Benefits

Many operators in Canada's oil and gas industry are subject to taxation under the United States Internal Revenue Code. In their Canadian activities, operations and agreements, these operators seek to preserve any tax benefits that they may have under the income tax laws of the United States. This article outlines the tax advantages which the United States operator wishes to preserve, such as avoidance of the status of an on Canadian operators not subject to United States tax laws, and suggests draft clauses that may be included in Canadian joint operating agreements to preserve United States tax benefits for the American operator.

scholarly journals United States Environmental Laws and Exploration and Production Operations

1975 ◽  
Vol 13 (1) ◽  
pp. 1
Author(s):  
Henry R. White
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
National Environmental Policy Act ◽  
Gas Industry ◽  
Environmental Laws ◽  
Oil And Gas Exploration ◽  
Healthy Environment ◽  
Oil And Gas Producers ◽  
Exploration And Production ◽  
The Government

Concern for the protection of the environment has resulted in the creation of number of new U.S. statutes and regulations which have an important impact on American oil and gas exploration and production operations. The author provides brief historical survey of some of the legislation which provided foundation for laws enacted within the past few years. He discusses in some detail the National Environmental Policy Act provisions and concludes that they have been construc tive force for change, both in the government and the oil and gas industry. The author then provides an overview of various statutes and. regulations establishing guidelines to ensure clean air and water, which are of particular importance to oil and gas producers. In conclusion, the author stresses the importance of maintaining balance between the need for healthy environment and the need for an adequate supply of energy.

Australian exploration review 2016

2017 ◽  
Vol 57 (2) ◽  
pp. 363
Author(s):  
Steve Mackie
Keyword(s):  
Oil And Gas ◽  
Near Field ◽  
Health Indicators ◽  
Oil And Gas Industry ◽  
Business Environment ◽  
Petroleum Exploration ◽  
Gas Flows ◽  
Gas Industry ◽  
Oil And Gas Exploration ◽  
Leading Industry

In 2016, explorers in Australia were called upon to demonstrate realistic optimism. The year clearly demonstrated that during an industry contraction, such as that seen by the upstream oil and gas industry since the oil price crash of late 2014, near field conventional exploration still produces discoveries. These include Shefu, Muruk, Davis, Outtrim and Spartan. Amungee NW demonstrated unconventional gas flows in the Beetaloo Basin. As usual, new reservoirs were discovered in appraisal programs such as at Roc and Phoenix South. Exploration lows, however, were the general mood with the inevitable unsuccessful wells, decreases in permit awards and associated work programs, the general low level of drilling activity both offshore and onshore, frustrations at approval delays and constraints and the still contracting business environment. This Petroleum Exploration Society of Australia review looks in detail at the trends and highlights for oil and gas exploration both onshore and offshore Australia during 2016; not just outcomes with the drill bit, but also leading industry health indicators such as drilling, seismic data acquisition and permit awards. It also seeks to be insightful and to make conclusions about the condition of oil and gas exploration in Australia, as well as comment on future implications for the industry.

The Oil and Gas Industry in Kazakstan

1998 ◽  
Vol 26 (3) ◽  
pp. 557-564 ◽  
Author(s):  
Erik S. Karibdzhanov ◽  
Murat A. Taishibayev
Keyword(s):  
United States ◽  
Oil And Gas ◽  
Sedimentary Basins ◽  
Oil And Gas Industry ◽  
The United States ◽  
World Market ◽  
The Caspian Sea ◽  
Gas Industry ◽  
Oil Reserves ◽  
The Government

In Kazakstan, there are currently over sixty known oil and natural gas fields, including five sedimentary basins with a potentially large amount of proven and expected gas and oil bearing seams. The largest and best known are the Caspian (Prikaspiiski), South Mangishlak (Uzhno-Mangishlakski), Ustiurt-Buzachi (Ustiurtsko-Buzachinski), Torgai (Torgaiski), and Chu-Sarisu (Chu-Sarisuiski). Kazakstan is ranked twenty-fourth among the world's 55 oil-producing countries by many analysts. It has about 60 billion barrels of oil reserves. Indeed, it has been estimated by many of the same analysts that the offshore fields in the Caspian Sea, which borders Kazakstan's western territory, contain at least 26.6 billion barrels of extractable oil reserves. Yet in 1994, according to an article in Oil and Gas Journal, the government of the United States stated that it “does not consider Kazakstan as the most important source of oil supplies for the United States; however, Kazakstan might play [an] important role in reduction of the [sic] oil price.” Oil is a vital resource for Kazakstan and its extraction will play a major role in fostering the country's future development and relations with major oil consumers. Accurately estimating Kazakstan's reserves, and its ability to sell it on the world market, remains a major concern for Almaty.

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