Each September, Dr Carole Nakhle, CEO of Crystol Energy, returns to the Blavatnik School of Government, University of Oxford, to deliver her annual lecture on fiscal regimes in the extractive industries. The session is part of the professional development programme Managing Mining, Oil and Gas for National Development, delivered in collaboration with the Natural Resource Governance Institute (NRGI).
A gobal exchange of perspectives
The 2025 cohort brought together participants from across Latin America, Asia, the Middle East and Africa. Contributions from countries such as Mexico, Mongolia, Indonesia, and Saudi Arabia’s Ministry of Mines underscored both the diversity of national experiences and the shared policy challenges of resource management.
Practial and policy focused
Rather than treating fiscal policy as theory, Dr. Nakhle’s session centres on practice. Participants worked through:
- Case studies reflecting real-world fiscal dilemmas
- Simulated negotiations between governments and investors
- Debates on current controversies and trade-offs
She emphasised the importance of fiscal regimes as a broader concept than taxation, as many instruments affect revenues and investments without being labelled as taxes. For governments, these frameworks are among the most powerful levers to manage resources and raise revenues. For companies, they often determine project viability.
Building capacity for better governance
The interactive format ensured an engaging exchange, leaving participants better prepared to design and negotiate fiscal terms that can turn resource wealth into a driver of sustainable development.
At Crystol Energy, we are committed to advancing responsible natural resource governance by combining academic insight with practical experience—an approach reflected in our continued contribution to this long-standing programme.
Related Analysis
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