Oil Hydrocarbons - Re-Examine Retention Values - Full Text Of The Standard

Original Language Title: HIDROCARBUROS GAS OIL - REAJUSTENSE LOS VALORES DE RETENCION - Texto completo de la norma

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
Energy Secretariat.

COMBUSTIBLE

Remove the gas-oil retention values.

Decree No. 1.525/1970

Bs. As. 8/4/70.

VISTO the provisions of Act No. 17.597 and

CONSIDERING:

Which reasons based on the analysis of the operational costs of hydrocarbon refiners, suggest realigning the gas-oil detention values without altering their selling price;

Such a modification will act as a stimulus for companies to increase the production of diesel-oil in such a way as to decrease the import of that product, whose consumption in the domestic market increases faster than that of other fuels ;

That in establishing the new retention values, the impact on the financial turn of the companies on the reduction of the deadline for entering the levy on the transfer of hydrocarbons has been weighted;

It is also appropriate to set the official sale price of the virgin nafta, in order to make possible the liquidation of the refund to be received by the companies providing this product, when they sell it at the preferential prices established by Decree No. 4.271/69.

Therefore and in accordance with the proposals of the Secretary of State for Energy,

The President of the Argentine Nation

Decrete:

Article 1 - From 0 (0) time on 1 March 1970, those responsible under Article 9 of Law 17.597 shall retain the official price of sale of national gas-oil, for the sales made in the domestic market, the amounts indicated below:

CONCEPT
Retention ($/m3)
1) Value in refinery tank
108.20
(2) Commercialization
48,50
(3) Total retention
156.70

These retention values include the incidence of the levy provided by Laws 16.882 and 17.574 to 5 per cent (5%) and the readjustment of the reseller bonuses, in a whole according to the provisions of Article V of Resolution SEE No. 68/89 of 21 November 1959. The official prices for the sale of fuels set by Decree No. 9.544/67 with the amendments introduced by Act No. 18.201 as well as - except for oil - the retention values established by Decree No. 8.054/68.

Article 2 - In accordance with the provisions of the previous article, the table attached to the present decree replaces the table annexed to the Decree No. 9.544/67 as amended by Decree No. 8.054/69, which discriminates against the retentions of the various by-products of national origin.

Art. 3° - From the zero (0) hour of March 1, 1970, oil companies will adjust the retentions of imported or obtained gas-oil from imported pertroleum, adapting the marketing costs according to the values reported in this Decree establishes for the by-product of national origin.

Art. 4° - Look at the official sale price of the virgin nafta under conditions C and F petrochemical plant, the sum of one hundred eleven pesos with sixty cents ($111.60) per cubic metre, to be liquidated to the companies providing raw material for that industry, the difference between the indicated price and the promotion price set out in Decree No. 4.271/69.

Article 5 - This Decree shall be endorsed by the Ministers of Economy and Labour and Public Works and Services and signed by the Secretaries of State of Finance and Energy.

Article 6 - Contact, publish, give to the National Directorate of the Official Register and archvese.

NGOsANIA.
José María Dagnino Pastore.
Luis M. Gotelli.
Juan P. Thibau.
Luis B. Mey.

Annex to Decree No. 1.525

DISCRIMINATION OF THE CORRESPONDIENT RETENTIONS TO THE NATIONAL SUBPRODUCT

PRODUCT
NAFTA
72 Oc. M.M.
0.730
$/m3
NAFTA
90 Oc. M.R. Min.
0.730
$/m3
KEROSENE
0,800
$/m3
GAS OIL
0.840
$/m3
DIESEL OIL
0.860
$/m3
FUEL OIL
0.960
$/TON
1) Value in Refinery Tank
112.80
136.50
107,20
108.20
108.10
48,30
(2) Commercialization
53,60
55.20
38,40
48,50
12.10
8,70
(3) Total retention
166.40
191,70
145,60
156.70
120.26
57.-