Reduction of Export Duties for Conventional Crude Oil

On January 29, 2026, the Argentine Executive published Decree 59/2026 in the Official Gazette, restructuring the export duty rules for crude oil (NCM 2709.00.10) to differentiate between the tax applicable to crude oil from conventional fields and other hydrocarbons.

The prior scheme—that will still apply to exports of unconventional oil—sets a variable rate for export duties ranging from 0% to 8%, depending on the International Price (PI) of oil reported monthly by the Secretariat of Energy, based on Brent values. If the reported price is below USD 45/bbl (the Base Value or VB), no export duties apply. However, if it exceeds USD 60/bbl (the Reference Value or VR), export duties are set at 8%.

For intermediate values, the monthly export duty rate is determined by a linear function, using the following formula:

Export duty rate = [(PI–VB)/(VR–VB)] ×8%

The new scheme for exports of crude oil from conventional fields updates the reference values:

• Base Value: USD 65/bbl,
• Reference Value: USD 80/bbl.

The Secretariat of Energy has a maximum of 60 days to issue complementary regulations and necessary control procedures. The Decree enters into force on January 30, 2026, although its effects will begin once the relevant regulations are issued or once the stipulated period expires.