Argentina Upstream Fiscal and Regulatory Report - Reformist Macri Government Liberalizing Oil and Gas Prices

 Published On: Aug, 2017 |    No of Pages: 28 |  Published By: GlobalData | Format: PDF
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Summary

"Argentina Upstream Fiscal and Regulatory Report - Reformist Macri Government Liberalizing Oil and Gas Prices", presents the essential information relating to the terms which govern investment into Argentina's upstream oil and gas sector. The report sets out in detail the contractual framework under which firms must operate in the industry, clearly defining factors affecting profitability and quantifying the state's take from hydrocarbon production. Considering political, economic and industry specific variables, the report also analyses future trends for Argentina's upstream oil and gas investment climate.

Scope

- Overview of current fiscal terms governing upstream oil and gas operations in Argentina
- Assessment of the current fiscal regime's state take and attractiveness to investors
- Charts illustrating the regime structure, and legal and institutional frameworks
- Detail on legal framework and governing bodies administering the industry
- Levels of upfront payments and taxation applicable to oil and gas production
- Information on application of fiscal and regulatory terms to specific licenses
- Outlook on future of fiscal and regulatory terms in Argentina

Reasons to buy

- Understand the complex regulations and contractual requirements applicable to Argentina's upstream oil and gas sector
- Evaluate factors determining profit levels in the industry
- Identify potential regulatory issues facing investors in the country's upstream sector
- Utilize considered insight on future trends to inform decision-making

1 Table of Contents
1 Table of Contents 1
1.1. List of Tables 3
1.2. List of Figures 3
2. Regime Overview 4
3. State Take Assessment 6
4. Key Fiscal Terms 7
4.1. Royalties, Bonuses and Fees 7
4.1.1. Bonuses 7
4.1.2. Royalty 7
4.1.3. Rental Fees 7
4.2. Extraordinary Income Levy (Where Directly Negotiated) 9
4.3. Export duty 10
4.4. Federal Direct Taxation 12
4.4.1. Corporate Income Tax 12
4.4.2. Deductions and Depreciation 12
4.4.3. Withholding Tax 12
4.5. Provincial Taxation 12
4.5.1. Turnover Tax 12
4.5.2. Stamp Duty 13
4.5.3. Property Tax 13
4.6. Indirect Taxation 13
4.6.1. Value Added Tax 13
4.6.2. Customs Duties 13
4.6.3. Corporate Social Responsibility Payments 13
4.7. Incentives 14
4.7.1. Stimulus Program for the Export of Escalante Crude Oil Surplus 14
4.7.2. Investment Promotion Scheme for Hydrocarbon Production 14
4.7.3. Gas Plan Incentives 14
4.7.4. Promotional Scheme for Hydrocarbon Exploration and Production 16
4.7.5. Oil Plus (Repealed July 13, 2015) 16
4.7.6. Gas Plus 18
4.7.7. Stimulus Program for Crude Oil Production (2015 Only) 18
4.7.8. Special Regime for Tierra del Fuego, Antarctica and South Atlantic Islands (Ended) 18
5. Regulation and Licensing 19
5.1. Legal Framework 19
5.1.1. Governing Law 19
5.1.2. Contract Type 20
5.1.3. Title to Hydrocarbons 20
5.2. Institutional Framework 21
5.2.1. Licensing Authority 21
5.2.2. Regulatory Agency 21
5.2.3. National Oil Company 22
5.3. Licensing Process 23
5.4. License Terms 23
5.4.1. Duration and Relinquishments 23
5.4.2. Area 24
5.4.3. Work Obligation 24
5.5. Local Content 24
5.6. Profit Repatriation 24
6. Outlook 25
7. Appendix 27
7.1. Contact Us 27
7.2. Disclaimer 27

1.1 List of Tables
Table 1: Regime Overview 4
Table 2: Argentina, Rental Fees, October 31, 2014 Onward 8
Table 3: Argentina, Rental Fees, 2007 to October 31, 2014 8
Table 4: Argentina, Rental Fees, Prior to 2007 8
Table 5: Argentina, Neuquén Province, Extraordinary Income Levy Rates (%), 2010 YPF Extension 9
Table 6: Argentina, Mendoza Province, Extraordinary Income Levy Rates (%), 2010 Law 9
Table 7: Argentina, Salta Province, Extraordinary Income Levy Rates (%), 2012 YPF Extension 10
Table 8: Argentina, Additional Export Duty Rates, August 2004 11
Table 9: Argentina, Oil Export Duty Rates Below US$80/bbl, October 22 - December 31, 2014 11
Table 10: Argentina, Gas Plan II - Subsidized Prices 15
Table 11: Argentina, Gas Plan - Subsidized Prices, Resolution 46-E/2017 16
Table 12: Argentina, ‘Oil Plus' Tax Credit for Production Rates 17
Table 13: Argentina, ‘Oil Plus' Tax Credit for Reserves Rates 17
Table 14: Argentina, Provincial Regulatory Agencies 22
Table 15: Argentina, Provincial Oil Companies 23

1.2 List of Figures
Figure 1: Regime Flow Chart 5
Figure 2: Argentina, Indicative NPV10/boe, IRR and State Take Comparison, Regional 6
Figure 3: Argentina, Legal Framework 19
Figure 4: Argentina, Institutional Framework 21


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