Theo Acheampong, Associate, Crystol Energy, spoke on Getting a fair deal in petroleum contracts: fiscal regimes, negotiations and political settlement at Africa Oil Governance Summit, which took place on 23-24 November 2015 in Accra, Ghana.
Theo’s main message includes:
– The fall in the oil price is not without precedent, while $50/barrel is not low
– The oil price is not the only buy accutane for acne determinant of investment; government policy and fiscal regime play an equally important role
– One has to look beyond government take statistic
– Governments should avoid chasing the oil price
– Importance of regime stability and the need for automatic adjustment of the fiscal system mainly through the use of profit based instruments