Enacts new financial incentives regime for diesel oil refining and production

16 Jun 2022

On 16 June 2022, the Government of Argentina enacted Decree No. 329/2022 "Regimen de Incentivos al Abastecimiento Interno de Combustibles" ("Incentives Regime for the internal supply of Fuels"). The Decree entered into force on the same date.

Decree No. 329/2022 creates a new regime of financial incentives for diesel refining operators in the country. Under the new decree, refinery and integrated refinery operators may request a financial aid equivalent to payments due for the payment of the Tax Liquid Fuels and Carbon Dioxide (No. 23966) for diesel oil imports.

According to the authorities, incentives created under the new Decree are aimed at promoting and reinforcing national production and supply in order to cope with a growing demand in the internal market.

Financial incentives under the Decree will be available to operators for 2 months, a term which may be extended by the authorities for an additional 2-month period.