Review of Australia's Petroleum Resource Rent Tax: Implications from a Case Study of the Gorgon Gas Project

2017 ◽  
Vol 45 (2) ◽  
pp. 315-349 ◽  
Author(s):  
Diane Kraal
Keyword(s):  
Oil Prices ◽  
Australian Government ◽  
Business Investment ◽  
Resource Rent ◽  
Tax Assessment ◽  
Petroleum Resource ◽  
New Business ◽  
Australian Community ◽  
Fiscal Regime

Australia has welcomed new business investment of $200 billion for integrated gas projects. However lower than expected tax receipts have tempered the early optimism of project benefits. In particular, petroleum resource rent tax (PRRT) revenues since the 2002–03 financial year have fallen. These reduced revenues have raised concerns about the effectiveness of petroleum taxation in Australia and pressured the Australian Government to call for a review of the PRRT in late 2016. Examined are the modifications necessary to the petroleum fiscal regime to address one of the PRRT Review's aims of providing an equitable return to the Australian community. Findings from a case study of an operational gas project include the need for PRRT modifications, and the addition of royalties for particular integrated natural gas projects in Commonwealth waters. The article is significant for its unique overview of Australia's petroleum taxation since the fall in oil prices from mid-2014 and the rise of gas export projects. This interdisciplinary and empirical research forms an important contribution to the current Commonwealth PRRT Review through its recommendations for change to the Petroleum Resource Rent Tax Assessment Act 1987 (Cth). It calls for more uniform federal legislation for the taxation of petroleum resource projects.

Taxation and Pricing of Natural Gas: The Dutch Transition to a Gas Market Hub and Lessons for Australia’s Integrated Gas Projects

2020 ◽  
Vol 43 (1) ◽  
Author(s):  
Diane Kraal ◽  
Machiel Mulder ◽  
Peter Perey
Keyword(s):  
The Netherlands ◽  
Transfer Pricing ◽  
Gas Transfer ◽  
Australian Government ◽  
Resource Rent ◽  
Market Evolution ◽  
Petroleum Resource ◽  
Gas Market ◽  
Energy Justice

The Australian government receives poor revenue returns from the Petroleum Resource Rent Tax (‘PRRT’), a tax regime that applies to integrated offshore, gas projects. By contrast the Netherlands has captured significant tax revenues from gas. We ask whether Australian government PRRT revenue would increase from an alternative method of gas pricing (known as the gas transfer price) by modelling four large gas projects. The Dutch case explains their gas market evolution and how high revenues have been maintained. We find that Australia’s current PRRT regulated pricing method for integrated gas projects is problematic and change is needed. The Dutch case study contextualises the discussion of an alternative gas transfer pricing method for offshore gas projects in Australia. The energy justice framework is used for analysis. This article contributes to the current government review of the PRRT regulations on the gas transfer pricing method.

PETROLEUM RESOURCE RENT TAX AND THE NEW FRONTIERS

1996 ◽  
Vol 36 (2) ◽  
pp. 133
Author(s):  
C.A. Harne ◽  
J.A. Vinet ◽  
A.H. Baird
Keyword(s):  
Oil And Gas ◽  
Petroleum Industry ◽  
Oil Prices ◽  
Export Markets ◽  
Resource Rent ◽  
Petroleum Resource

The Resource Rent Tax in (RRT) Australia evolved in the late 1970s in a climate of scarcity of world oil and perception of rising oil prices for the next decade and beyond. In the 1990s, where countries are fiercely competing for export markets, many of the fundamental assumptions which underscored the evolution of the tax in Australia are no longer appropriate. The petroleum industry has consistently tendered reasons for the inappropriateness of the tax in certain circumstances. It is essential for Government to reconsider fundamental assumptions underlying the RRT if Australian producers are to remain competitive exporters of oil and gas.

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.

On the Origins of Administrative Rent: Doing Business in a Russian Region N

2010 ◽  
pp. 58-80 ◽  
Author(s):  
A. Oleinik
Keyword(s):  
Rent Seeking ◽  
Individual Decision ◽  
Resource Rent ◽  
Competitive Edge ◽  
Doing Business ◽  
Russian Region ◽  
Positive Gain ◽  
Access To The Field ◽  
Quantitative And Qualitative Methods

In the article two types of rent are differentiated: resource rent and administrative rent. The latter is linked to restrictions on the access to the field of interactions. The contribution of the theory of public choice and the theory of rent-seeking and directly-unproductive activities is further developed by shifting the emphasis from individual decision-making to interactions between three actors: C, who controls access to the field, A, who gets a competitive edge as a result, and B, who assumes a subjacent position with regard to both A and C, yet still receives a positive gain from transacting. Domination by virtue of a constellation of As, Bs, and Cs interests is illustrated with the help of an in-depth case study of a Russian region. This study combines quantitative and qualitative methods, as well as their triangulation.

Criminogenic Policy Antithetical to Peace Policy: A Case Study of NAFTA as a Violation of International Law

2020 ◽  
pp. 016059762093289
Author(s):  
Daniel Patten
Keyword(s):  
Human Rights ◽  
International Law ◽  
Free Trade Agreement ◽  
Trade Agreement ◽  
Negotiation Process ◽  
Study Analysis ◽  
Business Investment ◽  
Written Text ◽  
Case Study Analysis

Successful peace policy that enshrines human rights allows individuals to thrive economically, politically, and socially with minimal conflict. Building from literature on crimes of globalization, genocide, and human rights, the current research investigates the concept of a criminogenic policy that at its core is antithetical to peace policy. Using case study analysis, North American Free Trade Agreement (NAFTA) is found to be both criminal and criminogenic in violation of international law for two primary reasons. First, the NAFTA negotiation process was criminal and criminogenic for three interrelated reasons: (1) powerful elites heavily influenced the outcome, (2) it was undemocratic, and (3) the opposition was often repressed. Second, the NAFTA policy itself was criminal and criminogenic for two reasons: (1) NAFTA as a policy ignored all of the critical voices that predicted negative outcomes and (2) the written text of NAFTA is criminal for failing to include human rights protections while offering a litany of rights to protect business investment.

scholarly journals Ethics, resource rent, environment and petroleum policy: the case of a small open economy

2021 ◽  
Vol 12 (1) ◽  
pp. 76-89
Author(s):  
Ola Honningdal Grytten ◽  
John Arngrim Hunnes
Keyword(s):  
Open Economy ◽  
Ethical Issues ◽  
Small Open Economy ◽  
The State ◽  
Resource Rent ◽  
The People ◽  
Petroleum Resource ◽  
Net Profit ◽  
Important Argument ◽  
Renewable Natural Resource

This paper contributes to the understanding of how the environment, ethics, values, and historical contingencies shape public policy. It explains the accomplishment of petroleum resource management in the small open economy of Norway. The study is conducted by mapping policy decisions and the arguments behind them regarding environmental and ethical issues. This is done by studying available governmental and parliamentary papers along with statements from politicians and central governmental officials. The paper also seeks to illuminate some of the decisions by quantitative measures. The paper firstly describes a model of Ricardian resource rent. Secondly, it investigates the set of values that were in place before the petroleum production started in the 1970s, as described in public documents. An important argument was to build a “qualitatively better society” for the benefit of the people. Thirdly, it traces the historical roots of these values by examining historical sources.The main findings are that success lies in understanding the ethics behind the environmental resource rent harvesting of this non-renewable natural resource. The paper concludes that the focus on the natural environment and resource rent management can be attributed to popular values built on historical traditions. According to them, the state and the trust between the state and its citizens played key roles in shaping the policy. The careful policy can be illustrated by the fact that Norway has managed to build one of the largest sovereign funds in the world worth USD 1,200 billion for use by future generations. Only 3% of its value, significantly less than its historical net profit, should be used annually.

scholarly journals Bisnis Vlogging dalam Industri Media Digital di Indonesia

2018 ◽  
Vol 15 (1) ◽  
Author(s):  
Jimi Narotama Mahameruaji ◽  
Lilis Puspitasari ◽  
Evi Rosfiantika ◽  
Detta Rahmawan
Keyword(s):  
Social Media ◽  
Digital Media ◽  
Media Studies ◽  
Significant Role ◽  
Support Systems ◽  
Media Industry ◽  
Video Content ◽  
New Business ◽  
Digital Media Studies

This study explores the phenomenon of Vlogger as a new business in the digital media industry in Indonesia. Vlogger refer to social media users who regularly upload a variety of video content with various themes. We used case study to describe and analyze Youtube’s significant role in managing Vlogger communities, and also design support systems to make the communities growth and sustainable. We also explore Vlogger role as Online Influencer. This study is expected to be one of the references related to Vlogger phenomenon in the context of digital media studies in Indonesia.

scholarly journals Measurable Effects of Metropolitan Gas Purchasing Group in the Light of Gas Market Functioning in Poland

Resources ◽  
2020 ◽  
Vol 9 (4) ◽  
pp. 36
Author(s):  
Karolina Mucha-Kuś
Keyword(s):  
Market Structure ◽  
Business Models ◽  
Market Liberalization ◽  
Positive Effects ◽  
A Value ◽  
New Business ◽  
Gas Market ◽  
Purchasing Group ◽  
New Business Models

As a result of the gas market liberalization, new business models are emerging and one that brings positive effects to market players is purchasing group functioning. This paper adopts the approach of gas market review and provides a synthesis of its functioning in Poland. The review focuses first on the frameworks of the process of gas market liberalization. Next, the author presents gas market structure and lists and comments on its components. Then, the main characteristics of the market are discussed. The author presents a case study of the Metropolitan Gas Purchasing Group—the largest gas purchasing group in Poland with the volume reaching almost 225 GWh of purchased gas. As a result, the author highlights the effects of this coopetitive strategy which reached a value of PLN 3,000,000.

scholarly journals Playing in the Sandpit Together Alone.

2012 ◽  
Vol 4 (1) ◽  
pp. 26-51
Author(s):  
Jonathon Main
Keyword(s):  
Service Sector ◽  
Community Services ◽  
Non Profit ◽  
Services Sector ◽  
Competitive Tendering ◽  
Study Approach ◽  
Australian Community ◽  
Program Funding ◽  
Community Sector

The community services sector is the largest provider of non-profit human services in Australia. This sector has experienced considerable growth as a consequence of public policy and sector reforms introduced by successive governments over the past two decades. These reforms have seen the introduction of private sector managerialist agendas, outsourcing of government services and competitive tendering processes. As the community sector has grown governments have sought to consolidate program funding mechanisms, simplify contracting out arrangements and encourage collaboration and formal partnerships through national tender processes. In recent years there has been significant evidence of governments actively encouraging formal intrasectoral partnerships and consortia in program tenders. While there is a considerable body of overseas and national literature on partnerships and collaboration, the predominant focus is on intersectoral relationships such as public-private partnerships between government and the business sector or government contracted services to the community sector. This research responds to a call for more local research on partnerships and collaboration in the Australian community service sector. A case study approach was used to examine the key drivers of intrasectoral partnership and collaborative practice in the context of the literature within business, government and community sectors. The study found prior interactions between organisations significantly influenced whether these drivers were viewed as strong, weak or ambiguous. The findings contribute to the understanding of intrasectoral partnerships and collaboration in the community sector in that prior relationships understood as parallel (i.e. disengaged) or cooperative in nature, can be predictive of potential partnership relationships and outcomes.

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