Designed to give you an understanding of the legal and regulatory environment and processes in the international energy and resources industries.
The world's long-term economic development depends on the existence of efficient, innovative and creative energy and resources industries. These in turn rely on individuals who possess a sound grasp of their legal, economic, technical and policy backgrounds.
The Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP), University of Dundee is at the heart of these issues and provides the best in advanced education in its field, preparing its graduates to meet the challenges posed by the evolving global economy. Stimulated by oil and gas developments in the North Sea, the CEPMLP was established in May 1977.
Our students achieve the practical and professional skills needed to mastermind complex commercial and financial transactions in the international workplace, with exposure to many varied and exciting opportunities. Our interdisciplinary approach to teaching, research and consultancy provides a unique perspective on how governments, business and communities operate, providing the professionals of today with the ability to meet the challenges of tomorrow
As an internationally renowned graduate school in the field of international business transactions, natural resources and energy law and policy, our distance learning programmes provide a rigorous training for graduate students and working professionals who cannot afford the time to undertake full time studies.
Our LLM Petroleum Taxation and Finance by distance learning is aimed at petroleum industry professionals, both in government and industry, who wish to gain a grounding in the fiscal and financial dimensions of the international petroleum industry within a legal framework. The programme combines legal, policy and quantitative studies.
This programme introduce students to main concepts, issues and instruments in tax policy for natural resources with foundation knowledge on how taxes and non-tax instruments are used by governments and the extractive industry to promote natural resource development while deriving revenues for the state and profits for extractive firms. Emphasis would be on providing an understanding of the complex issues of tax and financial regimes and the development of skills to analysis current topics or controversies, with the objective of providing competent strategy or policy advice to either governments or resource firms. This programme delve into current methods of financial and project appraisal techniques that relate to natural resources and energy organisations, as well as to detailed consideration of the theory of finance as it applies to the energy and mining industries and to how the theory is applied in practice. Students will compare and evaluate alternative taxation regimes, including environmental and international tax issues.
Teaching Excellence Framework (TEF)
The University of Dundee has been given a Gold award – the highest possible rating – in the 2017 Teaching Excellence Framework (TEF).
Modes of delivery
Each module will be delivered by distance learning using the My Dundee - our online learning system.
The Study Guide
- The student will receive a hard copy of the Study Guide
- The Study guide will be available on the My Dundee
This Study Guide has the following aims:
- To introduce the student to the key concepts and issues of debate.
- To guide the student towards a wide range of reading material from which they may choose what research topics to pursue.
- To provide the student with some opportunity for self-evaluation through a combination of short questions, tasks, exercises and case studies.
- A core reading book will be provided to the DL students
- Core and additional reading material will be available on the My Dundee.
A core team of distance learning academic staff and tutors will provide support to the students with relation to:
- Information on the structure and content of the programme
- Guidance on using the full range of learning guides and tools
- Academic questions relating to particular issues in the field of study
- Preparation of assessments and research papers
- Feedback on assessments and research papers
How you will be assessed
Each distance learning module will be assessed by at least two methods: EITHER
Written examination and research paper (most modules are assessed in this way). The exam and research paper are each worth 50% of your total mark.
Written examination and case studies. The exam is worth either 60% or 70% and the case studies are worth either 40% or 30% of your total mark respectively.
- a dissertation of up to 15,000 words on a topic approved by an academic supervisor, or
- an Internship report - students who choose this option are required to source an organisation willing to offer a 3-month work placement, approved by an academic supervisor
What you will study
Our LLM is made up of a total of 180 credits
Core Compulsory Modules
A minimum of 60 credits from
The main objective of this module is to provide an understanding of the main law and policy issues in the international petroleum industry, with an emphasis upon transactional agreements concluded between host government and oil company/investors.
Common and diverging objectives between the two parties and indeed among the international corporate and financial investors themselves are faced in a candid and practical way, with an emphasis upon ways of accommodating the interests of diverse stakeholders in the development of petroleum resources.
A brief introduction is provided to petroleum taxation issues. The module focuses upon problem-solving techniques in a variety of settings, noting the inputs of lawyers, economists, accountants, engineers and geologists.
This module will provide students with foundation knowledge on how taxes and non-tax instruments are used by governments and the extractive industry to promote natural resource development while deriving revenues for the state and profits for extractive firms. Emphasis is on providing an understanding of the complex issues of tax regimes and the skill to analysis current topics or controversies, with the objective of providing competent strategy or policy advice to either governments or resource firms.
Students will be prepared to compare and evaluate alternative taxation regimes, including environmental and international tax issues. Some topics covered in the module include; resource rent taxation, royalties, direct and indirect taxes, general structure of PSAs/PSCs, transfer pricing, and current issues from around the world. This module does not teach skills in accounting, financial analysis or tax law.
This module deals with the economic and policy aspects of the international oil and industry. It presents the specific economic characteristics of the industry and explains the developments of the industry using economic logic. The module covers the entire supply chain of the oil and gas industry and focuses both on the supply and demand sides of the industry. It also considers the current issues and challenges faced by the industry. The main aim of the module is to help students become familiar with the economic concepts relevant for the petroleum industry and apply them to analyse relevant developments and challenges of the industry.
The primary aim of the course is to provide a detailed consideration of the theory of finance as it applies to the energy and mining industries and to consider how the theory is applied in practice.
The two key focus areas will be investment decision making with uncertainty and how the investment demands are financed.
The main aim of this course is to introduce you into current appraisal techniques and concepts that relate to natural resources and energy organisations. It focuses on the internal investment decision from the perspective of the operational manager. The key starting point is the question: how can companies create value through sound investment decisions in order to support the business? As a result, we are concerned with the deployment of finance, rather than how it is generated from the financial markets.
This is a practical course in which evaluation techniques, such as discounted cash flow analysis, are applied to realistic scenarios, leading to the preparation of spreadsheets, their analysis and interpretation of results. The objective is the capability to recommend appropriate appraisal techniques to a given business investment, along with an appreciation of social and other non-financial features, underpinned by a basic understanding of the principles of risk analysis.
Compulsory Choice Modules
40 credits from
The dissertation contributes to the achievement of the aims of the Masters degree namely:- to promote a deeper and critical understanding of selected areas relating to the specialisation of the student; to develop originality of thought and skills of research, analysis, argumentation and expression; to build upon, develop and integrate the knowledge and skills acquired in the taught modules.
A dissertation of up to 15,000 words on a topic approved by an academic supervisor.
The internship provides the student with the opportunity to apply in the workplace the knowledge and skills learnt at CEPMLP and to learn how professionals in the field perform their tasks.
Students who choose this option are required to source an organisation willing to offer a 2-month work placement, approved by an academic supervisor. The Internship includes the submission of a written report as part of the assessment.
The internship requires an intellectual report of approximately 10,000 words
Sufficient modules from the academic timetable to bring the total number of credits to 180.
In common with other CEPMLP LLM degrees, any approved module can be included in the elective modules.
What sort of jobs do alumni of CEPMLP go on to do?
The answer is a wide range of varied roles. It is important to be aware that as with any job it depends upon your level of experience and skills set as to whether the role would be suitable for you, there is no one size fits all.
Past alumni have found employment with a variety of organisations including National Oil Companies, Exploration and Production Companies, Government and Ministries and Commercial Organisations including Banks, Law Firms and Global Consultancies.
You should have a good 4-year degree, equivalent to a UK honours degree, preferably at upper 2nd class level or above. Candidates holding the equivalent of a good 2nd class lower degree may also apply. You must provide degree certificates and academic transcripts with your application. Preferred degree disciplines are Law, Economics, Geology, Petroleum or Mining Engineering, Finance, Business, Management. Work experience in the energy/natural resources industry is an advantage, though it is not a strict requirement for admission to the MSc.
English Language Requirement
English Language Programmes
We offer Pre-Sessional and Foundation Programme(s) throughout the year. These are designed to prepare you for university study in the UK when you have not yet met the language requirements for direct entry onto a degree programme.
|Registration Fee (non-refundable)||£ 480|
|CEPMLP Specialised Modules (20 credit modules, applicable to all degrees)||£ 1350|
|CEPMLP Specialised Modules (10 credit modules, applicable to all degrees)||£ 810|
|Additional exam fee||£ 150|
|Exemption request fee||£ 300|
All Distance Learning course fees include one examination fee and courier charges.
Advance notice is required (minimum of 6 weeks) for all on-campus courses due to class size restrictions. Contact the Distance Learning administrator for further information.
All fees are subject to increases without prior notification.
Full time fees
The fees you pay will depend on your fee status. Your fee status is determined by us using the information you provide on your application.
|Fee status||Fees for students starting 2019-20|
|Scottish and EU students||Reg Fee £480, CEPMLP Specialised Modules (20 credit modules) £1350, CEPMLP Specialised Modules (10 credits) £810, Dissertation/Internship £1710, Exam Fee £150, Exemption request fee £300|
|Rest of UK students||Reg Fee £480, CEPMLP Specialised Modules (20 credit modules) £1350, CEPMLP Specialised Modules (10 credits) £810, Dissertation/Internship £1710, Exam Fee £150, Exemption request fee £300|
|International students (non-EU)||Reg Fee £480, CEPMLP Specialised Modules (20 credit modules) £1350, CEPMLP Specialised Modules (10 credits) £810, Dissertation/Internship £1710, Exam Fee £150, Exemption request fee £300|
|Fee status||Fees for students starting 2020-21|
|Scottish and EU students|
|Rest of UK students|
|International students (non-EU)||
See our scholarships for International applicants
Tuition fees for Overseas (non-EU) students will increase by no more than 5% per year for the length of your course.
You may incur additional costs in the course of your education at the University over and above tuition fees in an academic year.
Examples of additional costs:
|One off cost||Ongoing cost||Incidental cost|
|Graduation fee||Studio fee||Field trips|
*these are examples only and are not exhaustive.
- may be mandatory or optional expenses
- may be one off, ongoing or incidental charges and certain costs may be payable annually for each year of your programme of study
- vary depending on your programme of study
- are payable by you and are non-refundable and non-transferable
Unfortunately, failure to pay additional costs may result in limitations on your student experience.
For additional costs specific to your course please speak to our Enquiry Team.
You apply for this course via the UCAS Postgraduate website which is free of charge. You can check the progress of your application online and you can also make multiple applications.
You'll need to upload relevant documents as part of your application. Please read the how to apply page before you apply to find out about what you'll need.
|Apply now||International Petroleum Taxation and Finance (Distance Learning) LLM||P052622|
Centre for Energy, Petroleum and Mineral Law and Policy
+44 (0)1382 388350
- International Energy Law and Policy
- International Energy Law and Policy (Distance Learning)
- International Energy Studies without specialisation (Distance Learning
- International Mineral Law and Policy (Distance Learning)
- International Mineral Resources Management (Distance Learning)
- International Natural Resources Law and Policy (Distance Learning)
- International Oil and Gas Law and Policy (Distance Learning)
- International Oil and Gas Management (Distance Learning)