The structure of taxes and fiscal contracts between host countries and foreign companies has major implications for the success of oil development projects. This is because of several key characteristics of such projects: large investment outlays, long lead times to project completion, and long...

The availability of appropriate financing is likely to be a dominant factor determining the scope and pace of energy investment by developing countries in the 1980s. Reliance on self-finance will severely limit development for most countries, but traditional external finance-credit from private...