TRANSFER PRICING IN THE PETROLEUM INDUSTRY
Course Outline
This open course shall cover the below material and subject matter.
- Overview of Petroleum Industry and the Fully Integrated International Oil Company and National Oil Company
- Pricing Regulation and Regimes in the Petroleum Industry
- International Oil Companies and Affiliates
- Financial and Accounts Relationships
- Cost Centre & Profit Centre Affiliates
- IOC and Affiliate Pricing – Arms-length / Open Market Price (OMP) Versus Non OMP
- Transfer Pricing Overview
- Criticality of Transfer Pricing
- Transfer pricing and Revenue Recognition
- Transfer Pricing in Multinational and Fully Integrated Petroleum Companies
- Transfer Pricing and Petroleum Taxation of E&P Operations in relation to Taxation of Non-E&P (Midstream and Downstream) Operations
- Tax Revenue Implicatons of Transfer Pricing
- Global Principles for Transfer Pricing Accounting in the Petroleum Industry
