Article 82 of the United Nations Convention on the Law of the Sea (UNCLOS) requires Coastal States to make payments for the benefit of other, land-locked states. These payments relate only to production from a coastal state’s jurisdiction beyond 200 nm.
This report describes the UN Levy, identifies relevant issues around its interpretation, and provides estimates of the potential impacts on investors and the host jurisdiction, both taxpayers and resource owners.
Mexico’s oil and gas industry has been off limits to foreign direct investment for 75 years. Recent energy reforms are changing this. The opening of a “new” petroleum province, particularly the deep water offshore on the Mexican side of the Gulf of Mexico (GoM), is seen as a tremendous opportunity by both the government of Mexico and the world petroleum industry.
This report describes the fiscal features of Mexico’s new hydrocarbons law, and assess the system’s performance against fiscal system design criteria and government policy goals.