Newfoundland and Labrador’s offshore oil and gas industry is the province’s largest contributor to the economy and will be critically important to its future.
Indonesia has decided that state-owned oil and gas firm Pertamina will take over the Rokan block, in Riau, from Chevron when the US energy firm’s operating contract expires in 2021.
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The recent Rokan block deal signals a shift to a more nationalist agenda, but Indonesia's government is still pursuing other more outward-looking economic policies.
If Australia adopted a similar approach to the Hong Kong to eliminate debt loading abuse, United States oil and gas giant Chevron would have been denied A$6.275 billion in interest deductions.
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New modelling shows governments need to ensure that corporations benefiting from the use of Australia's resources, are contributing the same as they do in other jurisdictions.
Chevron’s Gorgon project is one of a few in Australia subject to the petroleum resource rent tax.
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