China Imposes Back-Dated Fee On Foreign Energy Ventures

Law360, New York (April 11, 2012, 4:46 PM EDT) -- A Chinese governmental agency will impose a retroactive fee on foreign ventures operating oil and gas projects in the country, which has recently seen a spate of interest in its shale reserves, the agency announced Wednesday.

The General Office of Ministry of Land and Resources said that it was amending its current laws to charge a compensation fee calculated on production value rather than volume and that it was making the fee retroactive to any project started after November 2011, according to an ordinance amendment filed...
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