国际石油经济2026，Vol.34Issue(7)：90-96,7.DOI:10.3969/j.issn.1004-7298.2026.07.010
碳税对海外油气上游项目投资者收益的影响
The impact of carbon taxes on investment returns of overseas oil and gas upstream projects
摘要
Abstract
As a cost item for upstream oil and gas projects,carbon taxes will inevitably affect investors'returns.This paper focuses on analyzing the impact of carbon taxes on investor returns in upstream oil and gas projects under the royalty and tax contract model as well as the production sharing contract model.The results show that the impact of carbon taxes on project returns is determined by the project's composite effective tax rate.Under both contract models,carbon taxes are tax-deductible.Under the royalty and tax contract model,the higher the composite effective tax rate including royalties,the greater the impact on investor returns.Under the production sharing contract model,the higher the composite effective tax rate including profit oil/gas sharing,the more significant impact on investor returns.Under both models,carbon taxes would reduce investor returns and may even affect investment decisions of upstream oil and gas projects.It is recommended that Chinese oil companies gradually improve their research and business arrangements.关键词
碳税/产品分成合同/矿税制合同/所得税/综合有效税率/油气上游/投资收益Key words
carbon tax/product sharing contracts/royalty and tax contract/income tax/effective tax rate/oil and gas upstream business/investment income分类
管理科学引用本文复制引用
孙杜芬,徐宁,赵蒙,诸鸣,彭云,尹秀玲,李浩武..碳税对海外油气上游项目投资者收益的影响[J].国际石油经济,2026,34(7):90-96,7.基金项目
海外项目全生命周期资产运营管理研究(项目编号:2026ZYGJCQ002) （项目编号:2026ZYGJCQ002）
