The constitutional reform was followed by a law (“Ley Corta”, /07) whereby provincial authority was extended to include the. EL DECRETO PE Nº , REGLAMENTACION DE LA LEY avasalla a la Provincias ya que la ley el Congreso transfirió funciones a las. Known as the Short Law, Law 26, effected the transfer. 22 J. Lapeña, ‘El Decreto PE No , Reglamentación de la Ley ‘ (undated) Revista del.

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While this was seen as an about face by many domestic observers, both events are in line with the government’s objective of reaffirming the state’s role in energy policy and its own control over resources. State-owned enterprises One of the consequences of the decentralisation of leh regulation has been the creation of state-owned enterprises at key provincial level.

The expropriation increased the state’s share in the company, and the deal with Chevron, carried out via presidential decree, reasserted the national government’s authority on energy deals over that of the provincial governments.

New hydrocarbons law in Argentina

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The expropriation of Repsol’s share of YPF not only enlarged the state’s share of the company, but also changed the relationship between the provincial and national governments on energy matters. While the new legislative framework seeks to create more predictable conditions to attract foreign investment, many key issues will remain unresolved, including domestic prices, export taxes, and repatriation of profits.

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A new Hydrocarbons Law currently in the works seeks to further tip the balance between the two levels of government in favour of the federal government and a more centralised leh of policy-making.

The reform of the Constitution of recognised the property of subsoil hydrocarbon 2619 as belonging to the provinces where they are located Art. Key issues unresolved While the new legislative framework seeks to create more predictable conditions to attract foreign investment, many key issues will remain unresolved, including domestic prices, export taxes, and repatriation of profits.

Overall, the new law seeks to replace the collage of provincial systems with a nation-wide arrangement that would prove attractive to investors and yield more control and revenue to the national government.

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EL DECRETO PE Nº , REGLAMENTACION DE LA LEY

Please sign in or become a member for free. Royalties, taxes and permitting authority are at stake. Edited by Callum O’Reilly. Under the new hydrocarbons law proposed by President Cristina Fernandez, the provincial oil and gas SOEs would no longer enjoy this gate-keeping privilege. Similar conditions are expected to be discussed for the development of all non-conventional deposits under the new Hydrocarbons Law.

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Read the article online at: No money has yet exchanged hands, either in payment for the shares to the national government or in dividends to the provinces, but the partnership has effectively sealed the fates of the provincial and national governments on future oil deals. One of the consequences of 261997 decentralisation of energy regulation has been the creation of state-owned enterprises at the provincial level.

These legal changes, however, did not cede legal jurisdiction to the provinces, which remains in the hands of the nation.

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Provincial governments are still subject to the relevant laws and international treaties passed by the national congress. This content is available to members only. The national government is also seeking to expand the role of YPF as an instrument of national energy policy. Other provinces have followed suit: