The oil provinces analyze reducing the royalty aliquot due to the fall in international oil prices. Thus they confirmed it to Scope Sources of two provincial administrations and two representatives of the private sector. In this way, they seek to mitigate the impact of the new international scenario on production and employment. At the same time, they claim the National Government to lower export rights. Chubut reduced his royalties 3 percentage points by decree for two specific investments.
The arrival of Donald Trump to the White House brought deep changes in the global economy. Apart from the tariff war and its consequences, in its first days of management he made other strong decisions: he left aside the incentives to renewable energies and promoted an aggressive policy to accelerate oil production.
To that determination, In April, an announcement to increase production by OPEC that was above market expectations was added in April. The international oil price deepened its fall to more than 15% so far this year and left the equation of many projects at risk. This Wednesday, the breeze breeze price 0.9% and the barrel drills the US $ S63. Thus, it is aimed at its greatest monthly setback since 2021.
In the Argentine case, the international setback is mounted on the decision of some operators to relocate their investments from the conventional segment to Vaca Muerta to seek greater profitability. The governors of the oil provinces took note and analyze reducing the royalty aliquots to morigize the impact on production and employment.
The data anticipated it Scope a high representative of an operating company in the sector and It was confirmed by sources from the Government of Santa Cruz and Chubut. “Here we have been with a decrease pronounced since last year. To that is added the decline of international prices and the ironed dollar. We are very concerned about the situation and we are dialogue with companies on the subject of royalties and also on other issues,” they acknowledged near the governor Claudio Vidal.
In the private sector they do not rule out that other provinces such as Tierra del Fuego, Mendoza, Río Negro and Neuquénin the case of the conventional, they can initiate conversations in the same direction.
The Chubut case
In the case of Chubut, Governor Ignacio Torres has already taken a first step. Signed a decree to lower from 12% to 9% royalties for two PAE and Pecom projectswhich made investments for US $ 2550 million YU $ 204 million respectively. The announcement was made after companies pledged to increase the amount invested.
Government sources did not rule out that a more generalized reduction can be carried out: “We do not rule out that it can happen, Ignacio is willing to lower royalties to improve competitiveness, but we also want the national government to lower export rights,” they said to this medium.
An experienced businessman in the sector told Scope that The downward roofs can help “cushion”The impact of the fall in international prices on production and employment, but considered it necessary to advance on other aspects to improve competitiveness, such as labor reform and infrastructure deficit.
Source: Ambito
