New data on Iraq oil revenues suggests that country’s government will reap an even larger than expected windfall this year — as much as $70 billion — according to the special U.S. auditor for Iraq.
New figures from Iraq’s government show revenue from exports hit $5.83 billion in December — more than $1 billion over what […]

An Alberta government report has dismissed the notion that the Canadian state had failed to collect billions of dollars in royalties in previous years.
Former Auditor General Peter Valentine, who authored the report also said the system for collecting economic rent from the oil and gas industry was “generally well-designed, if not always well-executed.”

Venezuela’s Congress has given initial approval to a windfall oil tax that extends President Hugo Chavez’s campaign to increase government revenue from the oil industry.
The tax will tap into private company profits amid record oil prices above $100 per barrel, and will step up his confrontation with the global energy giants, like BP.

The growing row between Shell and the Nigerian Government over financing has taken a turn for the worse.
The Nigerian Government has now scrapped an oil bonus scheme that rewarded Shell in a further escalation of the confrontation between the two sides.

Platform, the oil industry watchdog, is today publishing a report that argues that Kazakhstan is missing out on up to $20bn of revenues over the next decade as a result of the problems at the vast Kashagan oilfield.
Kazakhstan agreed surprisingly generous terms in its 1997 contract with international oil companies for developing the field, prompting […]