Evolutionary Development Trends of Taxation in the Oil and Gas Industry

The taxation of the oil and gas sector occupies a special place within the broader theory and practice of natural resource fiscal policy, since hydrocarbon rents combine high capital intensity, long investment horizons, extreme price volatility and significant economic rent. This article examines the evolutionary stages through which oil and gas taxation has developed worldwide, from simple royalty-based concession systems of the early twentieth century to contemporary hybrid regimes combining production-sharing agreements, resource-rent taxes, windfall-profit levies and carbon-related instruments. Using a comparative and historical-institutional methodology, the study analyzes the driving forces behind fiscal reform — price volatility, the energy transition, profit shifting by multinational enterprises, and the search for fiscal sustainability in resource-dependent economies. The analysis draws on recent (2024–2026) regulatory developments in the United Kingdom, the United States, Nigeria and other jurisdictions to illustrate how governments are recalibrating fiscal instruments. The article concludes that the evolution of oil and gas taxation reflects a continuous trade-off between attracting investment and capturing resource rent, and proposes recommendations for designing more transparent, stable and progressive fiscal regimes, including for emerging hydrocarbon-producing economies such as Uzbekistan.