NATION AND PROVINCES AGREE TO REDUCE WITHHOLDING TAXES AND ROYALTIES FOR AN OIL SECTOR
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✍️ The Argentine government is preparing to announce a reduction in the retention rates applied to conventional oil production, aiming to reactivate investments in areas showing a decline in their production level.
👉 The government will reduce the export rights applied to conventional oil production from 8% to 0%. 👉 The province of Chubut will offer a 4% decrease in royalties. 👉 The reduction in retention rates is expected to boost investments in areas with high production costs, such as Vaca Muerta. 👉 The change is aimed at reactiving investments in areas showing a decline in their production level.
-- #Argentina #Chubut #VacaMuerta #Neuquén #SanJorge #Austral #NOA #business
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