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Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia

Mas'ud, Abdulsalam (2016) Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia. PhD. thesis, Universiti Utara Malaysia.

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Abstract

Primarily, this study examines the effect of 2010 fiscal regime changes on the investment climate of marginal oil fields in Malaysia. The study also explores the effect fiscal regime changes on investors‘ capital expenditure (CAPEX) performance. It also investigates the relationship between tax instruments (types of profit-based tax, types of fiscal arrangement, crypto-based tax, production-based tax and tax incentives) and the investment climate of marginal oil fields as well as the moderating effect of an attractive petroleum fiscal regime on that relationship. Scenario analysis was used in examining the effect of 2010 fiscal regime changes on the investment climate of marginal oil fields. Trend analysis was employed in investigating the effect of fiscal regime changes on investors‘ CAPEX performance. Lastly, Partial Least Square (PLS) path modeling was used in examining the relationship between tax instruments and the investment climate of marginal oil fields as well as the moderating effect of an attractive petroleum fiscal regime. Findings from the scenario analysis showed that the investment climate of marginal oil fields improved after 2010 fiscal regime changes for low oil prices, mixed findings for medium oil price, however, the investment climate would have been better under old regime for high oil price scenarios. Investors‘ CAPEX performance increased significantly after the fiscal regime changes. Moreover, the finding shows that a petroleum profit tax, production-sharing contracts, and tax incentives had a significant positive relationship with the investment climate of marginal oil fields, but that the crypto-based tax and production-based tax had significant negative relationships. However, no significant relationship was established for the brown tax and the pure service contract. Furthermore, it was found that an attractive petroleum fiscal regime significantly moderated the relationship of the brown tax, production based tax, and tax incentives with the investment climate of marginal oil fields. However, no significant moderating effects of an attractive petroleum fiscal regime was established with respect to the crypto-based tax, petroleum income tax, production sharing contract, pure service contract. In line with these findings, practical, methodological and theoretical implications were highlighted, the study‘s limitations were discussed, and suggestions for future studies were offered.

Item Type: Thesis (PhD.)
Uncontrolled Keywords: investment climate, marginal oil fields, petroleum fiscal regime, tax instruments
Subjects: H Social Sciences > HJ Public Finance
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Mr. Badrulsaman Hamid
Date Deposited: 30 Mar 2017 15:54
Last Modified: 30 Mar 2017 15:54
URI: http://etd.uum.edu.my/id/eprint/6126

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