Argentina

Argentina

Government establishes a Crude Oil Production Stimulus Program

03 Feb 2015

On 3 February 2015, the Commission for the Planning and Coordination of the National Hydrocarbons Investment Plan adopted Resolution 14/2015, establishing a "Crude Oil Production Stimulus Program", effective from 1 January 2015 until 31 December 2015, which may be extended for another 12 months. Under the Resolution, the Government will provide an additional $3 per barrel to companies that maintain or increase output when compared to the last quarter of 2014. Exporters will receive an additional $2 per barrel for crude oil sold abroad, which rises to $3 per barrel for companies that increase the amount exported from last year.

Nature of measure:
  • Incentives
Type:
  • Promotion and facilitation (Investment incentives)
Industry:
  • Primary (Mining and quarrying)
Inward FDI:
No
Outward FDI:
No
Sources: