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

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 inst...

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Main Author:	Mas'ud, Abdulsalam
Format:	Thesis
Language:	eng eng
Published:	2016
Subjects:	HJ Public Finance
Online Access:	https://etd.uum.edu.my/6126/1/s94350_01.pdf https://etd.uum.edu.my/6126/2/s94350_02.pdf
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id	my-uum-etd.6126
record_format	uketd_dc
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Abd Manaf, Nor Aziah Saad, Natrah
topic	HJ Public Finance
spellingShingle	HJ Public Finance Mas'ud, Abdulsalam Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
description	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.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Mas'ud, Abdulsalam
author_facet	Mas'ud, Abdulsalam
author_sort	Mas'ud, Abdulsalam
title	Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
title_short	Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
title_full	Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
title_fullStr	Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
title_full_unstemmed	Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia
title_sort	effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in malaysia
granting_institution	Universiti Utara Malaysia
granting_department	Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
publishDate	2016
url	https://etd.uum.edu.my/6126/1/s94350_01.pdf https://etd.uum.edu.my/6126/2/s94350_02.pdf
_version_	1747828024287428608
spelling	my-uum-etd.61262021-04-06T06:22:09Z Effects of petroleum fiscal regimes and tax instruments on the investment climate of marginal oil fields in Malaysia 2016 Mas'ud, Abdulsalam Abd Manaf, Nor Aziah Saad, Natrah Tunku Puteri Intan Safinaz School of Accountancy (TISSA) College of Business HJ Public Finance 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. 2016 Thesis https://etd.uum.edu.my/6126/ https://etd.uum.edu.my/6126/1/s94350_01.pdf text eng public https://etd.uum.edu.my/6126/2/s94350_02.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia Abbas, S. A. (2011). Petronas will own marginal oil fields, StarBiz. Retrieved on 13th April, 2013 from http://www.ridzalaw.com.my/downloads/starbiz_ 280111_pg1.pdf. Abdo, H. (2010). The taxation of UK oil and gas production: Why the windfalls got away. Energy Policy, 38(10), 5625-5635. Abdulkarim, R. (2009). The fiscal tools in the UK petroleum licensing, How did the UK attract investments and what are the effects of changing terms? CEPMLP Annual Review, 12, 1-33. Abdullah, R. (2012). Oil & gas industry – Opportunities and challenges ahead. Halliburton. Universiti Teknologi Petronas. Perak. 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