IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 15 Jul 2015 | Removal date: open ended
Still in force

Export-related non-tariff measure, nes

On 15 July 2013, the Argentine Executive Power via Decree N° 929/2013 established a new system to promote investments in the oil and gas industry. According to this Decree, entities that are eligible to benefit from this new investment promotion system are: holders of hydrocarbon exploration permissions and/or holders of hydrocarbon exploitation concessions and capable of presenting a project of no less than USD 1,000,000,000 for the initial five years of the project.
 
Consequently, according to the novel system introduced by Decree N° 929/2013, eligible entities, starting from the fifth year of the existence of the project, will be given the ability to export 20% of the hydrocarbon production without paying export duties. Furthermore, exporters will benefit from the possibility of freely disposing of 100% of the foreign currency obtained from such exports.
Furthermore, Decree N° 929/2013 states that in those scenarios in which national demand cannot be met by the national hydrocarbon production, entities will not be allowed to export 20% of their hydrocarbon production. However, those entities will be allowed to charge the export price on the domestic sales of the referred 20% hydrocarbon production. This being in addition, to the entities having the right to purchase foreign currency in the official exchange market for up to 100% of the price obtained.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

120 Crude petroleum & natural gas
2709 Petroleum oils and oils obtained from bituminous minerals, crude.
270900 Petroleum oils and oils obtained from bituminous minerals, crude.
2711 Petroleum gases and other gaseous hydrocarbons.
271121 Natural gas
334 Petroleum gases & other gaseous hydrocarbons, except natural gas
2711 Petroleum gases and other gaseous hydrocarbons.
271112 Propane
271113 Butanes
271119 Other

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