Khelil, Chakib2012-08-132012-08-131995-05Viewpoint. -- Note no. 46 (May 1995)https://hdl.handle.net/10986/11671Exploration for petroleum occurs on the basis of government-granted concessions, leases, or contracts whose terms and conditions are established by law or negotiated case by case. An important part of these arrangements is the fiscal terms and conditions-bonuses, rentals, royalties, and taxes. The author looks at fiscal systems around the world and draws some conclusions about how governments compete for exploration investment.CC BY 3.0 IGOPETROLEUM EXPLORATIONPETROLEUM LEGISLATIONCONCESSIONSINVESTMENTSPRIVATE ENTERPRISESFISCAL POLICYGOVERNMENT CONTRIBUTIONS ACREAGEBARRELCASH FLOWSCORPORATE INCOME TAXESECONOMIC ANALYSISFISCALFUELGAS FIELDSGOVERNMENT REVENUESINCOMEOILOIL AND GASOIL COMPANIESOIL FIELDOIL FIELDSOIL IMPORTEROIL INDUSTRYOIL PRICESOIL PRODUCTIONPETROLEUMPETROLEUM EXPLORATIONPRESENT VALUEPRESIDENCYWELLHEADWorld Bank10.1596/11671