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Follow on Google News | Liberia Upstream Fiscal and Regulatory ReportLiberia Overhauling ‘Overambitious’ Upstream Policy to Boost Investment
By: GlobalData According to the company’ John McCormack, GlobalData’ “Many policies have already been implemented to promote accountability, and the combination of the continued implementation of the Extractive Industries Transparency Initiative (EITI) and development of a Revenue Management Act are likely to further promote transparency and responsible regulation.” There have been significant differences between the terms set out in the New Petroleum Law of 2002 passed under the government of Charles Taylor, now convicted of war crimes, and those ratified in PSCs since he was forced to step down – particularly in the provision for royalties. The 2002 law sets offshore royalties at 12–15% For further details, please click or add the below link to your browser: http://store.globaldata.com/ With these features leading the regulation restructuring, McCormack believes Liberia’ “The investment climate for Liberia’ “These moves should create more predictable terms of investment and more adequately fulfill the mission of promoting exploration – which will be the government’ -ENDS- NOTES TO EDITORS *Liberia Upstream Fiscal and Regulatory Report This report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state’ ABOUT GLOBALDATA GlobalData is the premier source of actionable insight into the energy and healthcare industries. With the combined expertise of more than 1,000 researchers, market analysts and consultants, we provide high-quality, accurate and transparent industry insightthat helps our clients to achieve growth and increase business value. Visit our report store: http://store.globaldata.com/ For more details contact:pressreleases@ North America: +1 646 395 5477 Europe: +44 207 753 4299 +44 1204 543 533 Asia Pacific: +91 40 6616 6782 End
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