COMPARATIVE RISK ASSESSMENT OF NATURAL GAS UTILIZATION PROJECTS UNDER PETROLEUM PROFIT ACT AND PETROLEUM INDUSTRY BILL 2018(PPT)

摘要

INTRODUCTION-OVERVIEW OF STUDY(1): 1.Long standing policy intent to excise the Associated Gas Framework Agreement(AGFA)found in Nigerian Petroleum Profit Tax Act(PPTA).2.AGFA stipulates that costs incurred in the development of gas utilization projects will be recovered against oil income.3.Policy makers have argued that AGFA encourages excess gas project spend,erodes the tax base,delays government take and acts as an avenue for investors to shift profits.4.The proposed PIFB 2018 sets out to repeal AGFA;Hence a comparison of PPT vs PIFB2018 is explored.5.Imperative for this paper is driven by: 6.Need to Assess the risk impact on gas investment by the repeal of AGFA.7.Potential impact on upstream projects upon repeal of AGFA.8.This study will address the following questions: 9.What risk is a gas utilization project exposed to by the excise of AGFA.10.What changes in government take by the proposed policy change.11.How does the risk profile of an upstream oil investment shift due to the proposal.