The petroleum fiscal system for a country is essentially the taxation structure, including royalty payments, that has been established by legislation. More broadly, the fiscal system includes all aspects of the contractual and taxation framework that governs the relationship between the host...

"No sector has been as vital as oil to the Russian economy since Vladimir Putin came to power. The longest serving leader since Stalin, Putin has presided during a period of relative economic prosperity driven largely by booming oil windfalls. Oil in Putin’s Russia offers an in-depth...