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Government should extend Repetro to second link of oil chain

The federal government is expected to extend the benefit of the differentiated customs regime for the oil and gas sector, known as Repetro, to sub-suppliers of goods and services in Brazil, meeting a demand from the domestic industry, said the director of Exploration and Production of Oil and Gas Natural, João Vicente de Carvalho.

According to Carvalho, a decree for the extension of the Repetro, a special customs regime for the export and import of goods destined for oil research and production, scheduled to end in 2019, is in the the office of the Chief of Staff for last adjustments and signature of the Presidency.

“This extension of the decree has some corrections, including an extension to the second link in the chain,” Carvalho told reporters after attending an event at the Brazilian Petroleum Institute (IBP) in Rio de Janeiro.

Under the current regime, the tax benefit only comes from the sale of equipment from a supplier to an operator, “(the idea now is that) who sells to a company that has the benefit of Repetro also has the benefit,” he said, making room for national companies to increase their sales.

AUCTION AGENDA

Carvalho also stressed that the National Energy Policy Council (CNPE) is expected to approve in December the blocks that will be auctioned in the 15th Round of exploratory blocks of oil and natural gas in 2018, in addition to evaluating the sectors that will be offered in 2020 and 2021.

In addition, he explained that the government plans to hold a workshop in August to discuss oil and non-conventional exploration and production in Brazil.

“The idea is to talk to all the actors and level the understanding of the benefits and risks of the unconventional, we know that it has several adverse reactions (against this exploitation),” Carvalho said.

Starting next year, the government is considering a pilot project, possibly in Bahia, to study the unconventional.

“We believe that it is positive and that Brazil has great potential for oil and non-conventional gas,” he added.

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