Tag: Ground Rent

  • Oil Prices and Fiscal Regimes

    By: B. Mommer

    Fiscal regimes in oil deal essentially with the upstream, that is exploration and production, They may, or may not, be defmed in a single law. More often than not, the components of fiscal regimes in oil are actually found dispersed in different laws and rulings, and their beneficiaries may include municipalities, provincial administration and the […]

  • The New Governance of Venezuelan Oil

    By: B. Mommer

    Since 1989 Venezuela has been developing a new oil policy, known as Politica Petrolera de Apertura (Oil Opening Policy), or Apertura Petrolera for short. With Apertura Petrolera the Venezuelan oil sector, nationalised in 1976, has been re-opened to private investors. Inviting private investors back may itself be considered a historic voIte-face in Venezuelan oil politics, […]

  • The Political Role of National Oil Companies in Exporting Countries: The Venezuelan Case

    By: B. Mommer

    This paper starts by defining the political role of mining companies in terms of the landlordtenant relationship in a modern economy. We shall then examine the role played by international oil companies in the oil exporting countries of the Third World, thus addressing the question of why they were nationalized. This will be followed by […]

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