Martin Bidegaray
09/15/2021 9:41 AM
Clarín.com
Economy
Updated 09/15/2021 1:51 PM
President Alberto Fernández presented the
bill to promote hydrocarbon activities
on Wednesday
.
Surrounded by governors, businessmen from the sector and unions, Fernández announced the sending to Congress of the regulation to stimulate oil and gas production.
In the Government they clarify that
it is not "a new hydrocarbons law"
, but a project to promote investments.
To achieve this, companies
will be promised tax stability for 20 years.
With that they want companies to know that they have a long-term set of
rules that will not be changed.
The law will also contemplate the possibility
that companies can dispose of dollars without bringing them into the country.
Funds generated through exports will be allowed to transfer to their headquarters.
Fernández was accompanied by the Secretary of Energy, Darío Martínez, and the Minister of Economy, Martín Guzmán, who gave a political speech.
Pablo González, president of YPF, was also there.
Ariel Kogan, a Martinez trusted official, was one of those who worked the hardest to achieve the new project.
With the management of the rates in the hands of
Federico Basualdo
(undersecretary of Electric Energy) and
Federico Bernal
, controller of Enargas,
the Secretary of Energy was cut to deal with the production of gas and oil
.
The subsidies are estimated by the Minister of Economy, Martín Guzmán, but the government's political wing is modifying them at will.
Martínez was in the oil provinces explaining the project with local governors and leaders.
The official stressed that there are no modifications to a previous hydrocarbon law, from 2014. "There is only a small modification to the hydrocarbon law with the creation of underground gas storage because that figure did not exist. The rest is a clearly promotional regime.
with tax benefits for those who want to invest more,
"he added.
One of the main aspects is the allocation of
Profited Exportable Volume
(VEB).
Companies will be able to access this "quota" once they demonstrate that they have supplied the local market or that no company wants to buy that production from them within the country.
Once the VEB is obtained
, companies will be able to export and dispose of half of what they have obtained
at their own discretion.
Instead, the other half must be entered by the country.
If they export outside the VEB, they will have to settle their exports like any other item, in the official Central Bank dollar.
"There is a chapter for special projects, which have to be accompanied
by the approval of the provinces.
The province that is going to give an opinion is the one where the project is carried out, in addition, it continues to be the one that will continue to give the area permit, the one that provides the concession, "explained Martínez.
Neuquén, Chubut and Santa Cruz are the main oil provinces.
As grantors, they
are the ones that collect royalties
when companies produce oil and gas in their fields.
NE
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