Sustained high commodity prices and increasing oil and gas supply are set to push upstream sector payments to governments to an all-time high of $2.5 trillion this year, smashing the previous record of $2.1 trillion set in 2011, Rystad Energy research shows. Saudi Arabia is, unsurprisingly, set to top the table in terms of total cash flow to government from the sector this year, followed by the US and Iraq, with the top 10 list dominated by Middle Eastern producers. Government take varies considerably between nations, however, with Norway and Iraq…
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