The Ministry of Energy published the rule that regulates the entry into force of the Vaca Muerta dollar, valid until October 20. It seeks to capture reserves for the BCRA and contain the CCL dollar.
In the middle of a tense climate due to fuel pricesthe Government made official this Tuesday, the launch of the Vaca Muerta dollar, valid until Friday, October 20, of the program that provides for a differential exchange rate for exports from the hydrocarbon sector. This was provided through Resolution 808/2023 of the Ministry of Energy, which was published in the Official Gazette.
The rule provides for the expansion of crude oil exports carried out through cross-border pipelines of the Export Increase Program, which was created through Decree 576/2022, for the implementation of the soy dollar 1, which was later renewed several times. .
The objective of the measure is to promote exports in the hydrocarbon sector, with a focus on the development of Vaca Muerta and the strengthening of the reserves of the Central Bank (BCRA). And, for these purposes, an exchange rate of around $460 per dollar for the sector (a little more than 30% above the official price).
The conditions of the dollar for hydrocarbon exports
So, It is included in the list of sectors benefiting from a differentiated exchange rate for exports of mineral fuels, mineral oils and their distillation products; inorganic or organic precious metal chemicals from rare earth metals or isotopes and hydrocarbon derivatives.
The methodology applied is that of the soybean dollar 4, so, as in that case, it is contemplated that 75% of the import settlements included in the Vaca Muerta dollar must be entered through the official exchange market (MULC) and 25%, through the Cash With Settlement (CCL) market.
The settlements of the export operations of the merchandise included in the tariff positions that correspond to the aforementioned articles whose export settlement date is between October 2 and 20 of this year are reached within the aforementioned Programto the extent that the effective export date of the goods is not later than November 30, 2023.
Companies that, prior to the issuance of the current regulation in question, had approved export permits for the months of October and November of this year, will also be able to join and obtain the benefits of the PIE.
Source: Ambito
