Aresco

FEBRUARY 14, 2024

This includes expenses related to exploration, development, and extraction. The depletion allowance is an important tax benefit for the oil and gas industry as it helps to incentivize investment in the exploration and extraction of natural resources, which in turn contributes to domestic energy production and the economy.

Oil 52

Oil Gas Crude Oil Exploration and Production 52

Reporting Oil and Gas

NOVEMBER 26, 2023

During the presentation of the 2024 Budget to Parliament, the Finance Minister highlighted the positive impact of the policy, citing a reduction in the exchange rate from GHS17 to a dollar in November 2022 to GHS12 to a dollar in November 2023. Additionally, petrol prices decreased from GHS23 per litre to GHS12 per litre.

Crude Oil 52

Crude Oil Oil Government Exploration and Production 52

The Energy Law

MARCH 28, 2022

Like traditional exploration and development, CCUS projects require the operator to secure both the necessary private property rights from landowners as well as regulatory approval from the appropriate administrative agency in order to proceed. Carbon capture, utilization, and storage (CCUS) projects involve various legal issues.

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Underground Injection Control Operator Exploration and Production Oil 98

Drillers

MARCH 24, 2020

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration. How did this happen?

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Oil Royalty Exploration and Production Government 52

Aresco

NOVEMBER 30, 2023

In this blog, well break down what IDCs are, provide real-world examples, explore their tax treatment, and discuss how excess IDCs could affect your tax strategy. These costs encompass various non-physical expenses incurred during the exploration and drilling of oil and gas wells. What are intangible drilling costs?

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Exploration and Production Consulting Oil Professional Services 52

Oil and Gas Investments

NOVEMBER 27, 2024

Production from Latin America represents just a sliver of overall supply. That mine is owned by Mosaic, who will give the mine a small increase in production in 2024 from 350,000 tonnes to 400K. But that is about to change when Brazil Potash’s Autazes mine lifts off into production. Getting to production is the challenge.

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Casing Exploration and Production Royalty Transportation 52