petroleum taxes

Petroleum taxes are charges imposed by governments on the sale, production, or extraction of oil and gas. They serve to generate revenue, regulate industry practices, and fund public services or infrastructure. These taxes can take various forms, including royalties paid to landowners, excise taxes added to fuel prices, or corporate taxes on oil companies’ profits. The amount and type of petroleum taxes vary by country and can influence fuel prices and industry investment decisions. Overall, they aim to balance economic growth with resource management and public benefit.