Monday , October 14 2019
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The government took a subsidy for oil companies | chronicle

Secretary of Energy, Gustavo Lopetegiand officially deals with oil companies who will not hold resolution 46 – confirmed by then-minister Juan José Aranguren – who has approved a special subsidy for companies that increase their gas production from Vaca Muerta.

In addition, the State Chief Executive made changes to the subsidies he would sustain, resulting in a strong confrontation with Tecpetrol, a company of the powerful Techint group. From now on, Resolution 46 will be limited to production initially reported at project submission time.

At that time, Tecpetrol estimated – according to the company and government – the production of 8.5 million cubic meters per day (m3 / d) of gas. But now, Fortín de Piedra's deposit generates 17.5 million m3 / d of gas. Therefore, the company will receive half of the subsidies that would have made the change in the amount of recognized production not introduced.

It has long since been signed that it will not accept the decision yesterday made official. In a statement he sent to the National Securities Commission, he said he had sent his attorneys to file a lawsuit against the national state. According to calculations by Tecpetrola, "The change in the payment criteria retroactively reaches the resorts in April, May, June, July, August, September and October 2018. This change implies a down payment of USD 1,994 million by September 2018 and, if maintained for all 2018, the overall performance of the year would $ 5.655 million. " However, governments were optimistic about reaching an agreement.

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