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Tax Accounting for oil and gas investments

Oil and Gas Tax Accounting Procedures. The kind of accounting procedures required for the gas and oil industry is therefore of critical importance to new and potential investors who wish to set a footage in this sector. Equipment and Supplies Stock. Including payroll, encompasses the processes of preparing payment vouchers and distributing royalty payments along with the payment of staff and laborers. Keep records regarding sell and purchase quantities and their corresponding revenues and asset records n...

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Oil and Gas Investment Tax Advantages

What Are the Tax Advantages in Oil and Gas Investing. Oil and natural gas ventures are one of the best tax advantaged investments available. Different states offer different tax exemptions into this venture as well as the Federal Government. They offer these incentives to promote domestic drilling of oil and natural gas. And intangible drilling costs. Lease costs are also deductible in the year that they are incurred. These costs could include accounting expenses, lease operating costs, purchase of l...

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Oil & Gas News, Global Oil Industry News | Oil & Gas Technology

FUTURE OIL and GAS. Connecting growth and western markets across the oil and gas industry. Abu Dhabi Launches Six Historic Oil and Gas Licensing Opportunities. Major onshore and offshore blocks across the emirate opened for new competitive. Total becomes a founding partner of the Cathay Smart Energy Fund. Total Energy Ventures (TEV), Hubei High Technology Investment Guiding Fund and. Shell completes sale of its stake in Iraq’s West Gurna 1 oil field to Itochu. LATEST OIL AND GAS TECHNOLOGY NEWS. ADNOC af...