Javier Milei’s “Omnibus” bill requests the termination of the so-called barril criollo (“domestic barrel”) and oil exporting permits. The end of the domestic barrelWhen looking at the price of a liter of gas, it should be noted that refiners buy the oil barrel from oil companies at a cheaper price than the international value. This is known as a “domestic barrel.” Currently, if an oil company exports crude oil, it does so at around US$75–80 per barrel. But if it sells it in the domestic market, the price is about US$60, according to private sector sources. The elimination of the domestic barrel is stated in Article 258, which replaces Article 6 of the hydrocarbon law.

Source: Bueno Aires Herald December 29, 2023 02:36 UTC