Treasury proposes changes to oil and gas royalties
Public invited to respond to suggestion that the variable rate be replaced by a fixed rate on gross sales
16 December 2021 - 16:58
The Treasury has proposed a move to a flat-rate royalty of 5% on gross sales for upstream oil and gas companies to replace the current variable rate, saying this would provide a more stable and guaranteed source of upfront revenue.
The proposal is contained in a discussion document released this week for public comment...
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