Section 72

The chargeable hydrocarbon tax for any accounting period of a com-
hydrocarbon pany shall be a percentage of the aggregated chargeable profit for that period
tax
and it shall be –
(a) 30% of the profit from crude oil for petroleum mining leases selected
under section 93 (6) (b) and (7) (b) of the Petroleum Industry Act with
respect to onshore and shallow water areas; and
Act No. 6, (b) 15% of profit from crude oil for onshore and shallow water and for
petroleum prospecting licences selected under section 93 (6) (a) and (7) (a)
of Petroleum Industry Act.