Overview
- The federal government, Chubut and oil companies signed an act to remove export duties on conventional crude as part of a coordinated push to revive mature fields.
- Chubut will reduce royalties on conventional production from 12% to 8% in a province‑side contribution to the relief package.
- Participating companies committed to maintain production and investment to reactivate rigs, improve efficiency and protect jobs in basins such as Golfo San Jorge.
- Officials say the framework will be extended to other producing provinces, with Santa Cruz expected to join next before the measure is formalized by decree.
- At current prices the change would neutralize the mobile export tax on conventional oil; estimates point to about US$73 million a year in federal fiscal cost and roughly US$370 million in projected reinvestment in Chubut.