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SUMMARY
China Upstream Oil and Gas Fiscal Regime Profile:Covers Petroleum Regulations
and Taxation for Explorations and Production Assets
• Global Market Direct's China Oil and Gas Fiscal Regime Profile is an
essential source for fiscal information relating to oil and gas assets in
China. The report covers the petroleum fiscal environment, license terms and
key fiscal terms for assets. It provides detailed descriptions of various
elements of the geography's fiscal regime. It also gives an understanding of
its petroleum regulations and the framework of opportunities available to the
players in the industry.
Report Coverage
• Information on the geography's fiscal environment, license policies and
fiscal terms specific to the upstream oil and gas assets.
• Analysis of
fiscal environment in terms of the governing law, licensing authority,
contract type and state participation.
• The licensing terms for both
exploration blocks and oil and gas fields.
• A sample calculation
detailing how fiscal terms apply to a typical asset in the regime.
•
Detailed information on key fiscal terms (such as rents, bonuses, royalty,
cost recovery, profit oil, petroleum and corporate taxes) pertaining the
geography (where applicable).
Why Buy?
• Provides the most up to date information available relating to the
geography's fiscal regime.
• Understand the geography's policies and
fiscal terms, and their impact on contractor's profits from upstream oil and
gas assets.
• Evaluate the attractiveness of the geography for oil and gas
investment in the light of government policies and the fiscal environment.
TABLE OF CONTENTS
TABLE OF CONTENTS
1 Table of Contents 2
1.1 List of Tables 4
1.2 List of Figures 4
2 Introduction 5
2.1 Global Markets Direct
Report Coverage 5
2.2 What Is This Report About? 5
2.3 How To Use This
Report 5
3 China Petroleum Fiscal Environment 6
3.1 Governing Law
6
3.2 Licensing Authority 6
3.3 National Oil Company 6
3.4
Contract Type 6
3.5 State Participation 6
4 License terms 7
4.1
Exploration 7
4.1.1 Area 7
4.1.2 Duration 7
4.1.3 Relinquishment
7
4.1.4 Exploration obligation 8
4.2 Production 8
4.2.1 Area 8
4.2.2 Duration 8
5 Key Fiscal Terms 9
5.1 Royalty 9
5.2 Bonuses
10
5.3 Rentals 10
5.4 Fees 10
5.5 Cost Recovery 10
5.6 Profit
Sharing 10
5.7 Taxation 12
5.8 Value Added Tax 12
5.9 Deductions
and Depreciation 12
5.10 Withholding Tax 12
5.11 Ring Fence 12
6
sample cashflows calculations 13
7 APPENDIX 14
7.1 Methodology 14
7.2 Units of Measure 14
7.3 Definition 14
7.4 Contact Us 15
7.5
About Global Markets Direct 15
7.6 Disclaimer 15
1.1 List of
Tables
Table 1: China, Crude Oil and Natural Gas, Onshore
Relinquishment Requirement, 2007 7
Table 2: China, Crude Oil and Natural
Gas, Offshore Relinquishment Requirement, 2007 8
Table 3: China, Crude
Oil, Royalty Rate, 2007 9
Table 4: China, Natural Gas, Royalty Rate, 2007
9
Table 5: China, Natural Gas, Profit Gas, 2007 11
Table 6: China,
Crude Oil, Profit Oil, 2007 11
1.2 List of Figures
Figure 1:
China, Upstream Oil & Gas Fiscal Regime (PSA), Sample Cashflows, 2005-2016
13
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