Monday , March 1 2021

The government took a subsidy to the oil companies | Chronic

The Secretary of Energy, Gustavo LopeteguThe official is for oil businessmen who will not maintain the 46th resolution – affirmed by the then Minister Juan José Aranguren – that granted a special subsidy to companies that increase their gas production from the field of Vaca Muerta.

In addition, the national executive has introduced changes in the subsidies they will maintain, which has generated a strong conflict with Tecpetrol, the company of the powerful Techint group. From now on, resolution 46 will be limited to the output initially declared at the time of submission of the projects.

At the time, according to the company and the government, Tecpetrol estimated a production of 8.5 million cubic meters per day (m3 / d) of gas. But now, the Fortín de Piedra deposit generates 17.5 million m3 / d of gas. Therefore, the company will receive half of the subsidies it would have if the change in the quantity of recognized production had not been introduced.

Since the signing had advanced days ago they will not accept the decision that became official yesterday. In a statement to the National Securities Commission, he said he instructed his lawyers to file suit against the nation state. According to Tecpetrol's calculations, "The payment change criteria retroactively reach the settlements in April, May, June, July, August, September and October 2018. This change implies a payment of less than US $ 1,994 million until September 2018 and if it were maintained for all the total impact of the year would be $ 5,655 million. " From the government, however, they were optimistic to reach an agreement.

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