What is needed for alignment of the State, society and the oil company?
This report expands on our Public Policy paper No. 10033. Table 1 identifies specific opportunities where SENER, SHCP and CNH may contribute to the alignment of interests between the State and oil companies as investors and operators. The table reflects insights offered by prospective bidders and legal and fiscal experts. The discussion contrasts the new oil regime with that of Pemex’s farmouts of 2003-13, and the regime in the US Gulf of Mexico. Principles of equity from the perspective of the investor/operator are set forth. We ask about the outlook for stakeholder feedback and the measure of success of Round One.
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