Dáil Éireann Debate, Tuesday - 11 December 2012
278. Deputy Pearse Doherty asked the Minister for Communications, Energy and Natural Resources further to Parliamentary Question No. 285 of 23 October 2012, if he will provide in tabular form by year, the receipts and expenditure in respect of a company (details supplied) for each of the years 2000 to 2012. [55393/12]
View answerAs set out by the Minister for Public Service and Reform in his replies to Parliamentary Questions numbers 285 of 23 October 2012, 79 of 26 September 2012 and 493 of 18 September 2012, the terms applicable to the Kinsale gas field are governed by a 1959 Oil Exploration and Development Agreement which sets out the regime of royalties, tax and rentals that apply. I should point out that the 1959 Agreement now relates to the Kinsale lease area only and that the fiscal terms applying to oil and gas exploration and production have been amended on a number of occasions since, most recently in the 2008 Finance Act which introduced a new profit resource rent tax of up to 15% in addition to the 25% corporate tax rate previously applying.
The royalties and expenditures in respect of Marathon Petroleum/PSE Kinsale are set out in the table below, please note that the figures for year 2000 are in punts. I should also point out that the amount paid in tax from the Kinsale gas field is a matter between the company and the Revenue Commissioners and is not included in the table.
|
Year |
Royalties received (000) |
Remittances Paid (000) |
|
2000 |
£6,950 |
£5,239 |
|
2001 |
€8,180 |
€16,198 |
|
2002 |
€7,306 |
€13,752 |
|
2003 |
€5,071 |
€8,496 |
|
2004 |
€4,900 |
€6,244 |
|
2005 |
€5,080 |
€1,748 |
|
2006 |
€12,231 |
€5,836 |
|
2007 |
€4,931 |
€0 |
|
2008 |
€9,611 |
€11,677 |
|
2009 |
€2,114 |
€4,743 |
|
2010 |
€2,572 |
€6,333 |
|
2011 |
€3,904 |
€2,868 |
|
2012 |
€3,955 |
€2,603 |
