According to the National Energy Secretariat, in January, February and March 2022, collections reached 113.6 million dollars, with an average of almost 38 million dollars per month; while in the same period last year the contribution had been 86.7 million dollars, with an average of 29 million dollars per month. In this way, it is concluded that this is an opportune and advantageous moment for oil exploitation.
However, as stated in the initiative presented by the senator from Trelew, due to the difference between the official dollar and the MEP dollar, the hydrocarbon-producing provinces receive a much lower amount as royalties for delivering their resources.
Consequently, Torres asks the national government to pay the hydrocarbon-producing provinces the compensatory amounts corresponding to the gap between the value of the official dollar and the MEP dollar so that they do not sell their resources at values lower than the real ones.
“Continuing with the settlement at the official exchange rate means losing the opportunity to increase reserves due to higher foreign currency income, as well as increasing collection through the collection of royalties from the provinces,” the bill specifies.
In that sense, it details: “The funds that the provinces receive as royalties are used mostly in infrastructure works, payment of salaries of teachers, doctors, police officers and teachers, among others. With the modification that we have come to propose with this project, we would be safeguarding the provincial coffers so that they can meet these expenses, which, with current inflation, have increased considerably. As much as the official dollar -which is taken to pay royalties- does not suffer large increases, the variations that the financial dollars and the blue dollar suffer affect the expenses that the provincial administrations must face”.
Source: Ambito
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