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What is the benefit for oil companies that is already in operation?

What is the benefit for oil companies that is already in operation?

The scheme came into effect based on sales abroad in the third quarter of last year and the benefit recognized in the 90 days after at the end of the period. This means that the terms that enable the benefit to the companies for the incremental exports made between July and September 2022.

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The scheme is committed to unlocking upstream investments (exploration and production) key to the development of the sector and the supply of the Néstor Kirchner gas pipeline once the work is finished.

How the scheme works

The Central Bank enabled the operation towards the end of last year through Communication “A” 7626 of October 28. The standard specifically establishes the differential access and the application of currencies for companies that have the “certification by the foreign exchange access regimes for the incremental production of oil and/or natural gas (Decree No. 277/22)”, in which the amounts for each of them are defined.

They also point out that “the Ministry of Energy and the Federal Administration of Public Revenues will implement the complementary measureswithin the framework of their respective powers, so that the benefit recognition process concludes within a period not exceeding 90 days running from the end of the quarter for which it is requested”.

Source: Ambito

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