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Towards establishing a scale for assessing the attractiveness of petroleum fiscal regimes – Evidence from Malaysia

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  • Abdul Manaf, Nor Aziah
  • Mas'ud, Abdulsalam
  • Ishak, Zuaini
  • Saad, Natrah
  • Russell, Alex

Abstract

This paper identifies a gap in the current literature relating to the attractiveness of petroleum fiscal regimes and suggests that establishing a measurement scale based on relevant factors drawn from the extant literature and on the perceptions of experts would complement the economic models currently in use and could become an industry standard. It will undoubtedly influence the petroleum fiscal policies and practices of petroleum producing countries. The methodology used involved a review of literature to identify factors that enhance the attractiveness of petroleum fiscal regimes; deploying experts to validate the appropriateness of the identified factors; conducting exploratory factor analysis and evaluating the internal consistency reliability of the construct's dimensions; performing confirmatory analysis for convergence and discriminant validity of the dimensions; and computing model fit indices to evaluate the goodness of fit of the four-factor correlated attractiveness petroleum fiscal regime scale. The results obtained suggest that a credible and manageable scale for assessing the attractiveness of petroleum fiscal regimes can be readily constructed. This research has taken the first important pioneering step in the construction of a globally applicable scale, the mechanics of which will require extension of our research, and consequently makes a significant contribution to policymaking and literature.

Suggested Citation

  • Abdul Manaf, Nor Aziah & Mas'ud, Abdulsalam & Ishak, Zuaini & Saad, Natrah & Russell, Alex, 2016. "Towards establishing a scale for assessing the attractiveness of petroleum fiscal regimes – Evidence from Malaysia," Energy Policy, Elsevier, vol. 88(C), pages 253-261.
    • Handle: RePEc:eee:enepol:v:88:y:2016:i:c:p:253-261
    DOI: 10.1016/j.enpol.2015.10.032
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    References listed on IDEAS

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    1. Smith, James L., 2013. "Issues in extractive resource taxation: A review of research methods and models," Resources Policy, Elsevier, vol. 38(3), pages 320-331.
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    7. Carole Nakhle, 2007. "Do High Oil Prices Justify an Increase in Taxation in a Mature Oil Province? The Case of the UK Continental Shelf," Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) 116, Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey.
    8. Zhang, Lei, 1997. "Neutrality and Efficiency of Petroleum Revenue Tax: A Theoretical Assessment," Economic Journal, Royal Economic Society, vol. 107(443), pages 1106-1120, July.
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    1. Yusuf Daiyabu Abdulkarim & Nor Aziah Abdul Manaf & Hafizah Mohamad Hsbollah, 2022. "Validating Public Governance Quality Measurement Scale with Application to Domestic Private Investment in Renewable Energy for Electricity Generation," International Journal of Energy Economics and Policy, International Journal of Energy Economics and Policy, vol. 12(2), pages 360-368, March.
    2. Mohammed Usman Isyaku & Dauda O. AbdulSalam & M. K. Kamba & Garba Tanko, 2025. "Effect of Petroleum Business Arrangements and Tax Instruments on Investment Climate of Marginal Oil Fields in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(4), pages 3055-3071, April.

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