IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2015 | Removal date: 01 Jan 2016
Still in force

Export subsidy

In addition to this production subsidy, oil exporters shall receive USD 2 per barrel sold abroad. This export subsidy rises to USD 3 per barrel for those entities that increase the exported amount in comparison to the previous fiscal year. However, this subsidy is conditional on the market price of oil. The subsidy will be paid as long as producers of the oil type 34°API Medanito receive less than USD 81 per barrel. For those entitities which produce the oil type 24°API Escalante (i.e. an oil type primarily designated for export) the threshold is at USD 70 per barrel.

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.

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