Independent Refineries Of The Refina Brasil Association Warn Of Possible R$ 5 Billion Loss In The Market In 2023, If The Lula Government Does Not Reissue The Exemption From Federal Taxes Including Oil Purchases

Written by Ruth Rodrigues

Published on 27/02/2023 at 17:03

Updated on 27/02/2023 at 17:05

Foto: Saulo Kaianuma | Divulgação

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The Association of Independent Refineries Asks the Lula Government for a Revision of the Federal Tax Exemption. The Goal of Refina Brasil Is to Include the Purchase of Oil in the Domestic Market Alongside Diesel Oil and LPG by December 31st of This Year.

The independent fuel refining market in Brazil faces a significant threat. The association of independent refineries, Refina Brasil, alerted the Lula Government about a possible shortfall of R$ 5 billion with the end of the federal tax exemptions, PIS/Cofins, on oil purchases in 2023. The goal is an amendment to Provisional Measure 1157/23 to extend the deadline for oil purchases, as well as LPG and diesel oil.

End of Federal Tax Exemption on Oil Purchases, Announced by the Lula Government, May Cause Billion-Dollar Shortfall in 2023

The independent fuel refineries in the Brazilian market are requesting the Lula Government for a new edition of Provisional Measure 1157/23.

As was the case with diesel oil and LPG, the goal of the Refina Brasil association is to include the purchase of oil in the federal tax exemption until December 31st of this year.

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Independent Refineries May Become Hostages of Petrobras in the Domestic Market with the End of Federal Tax Exemption on Oil Purchases, Highlights Pinheiro

Evaristo Pinheiro commented on the current situation of the independent refineries’ participation in the Brazilian market.

They represent only 20% of the country’s consumption capacity, while the majority purchase oil from Petrobras.

“As they are independent and Petrobras controls 80% of the market, these refineries cannot pass on prices (to the gas stations) and will have to reduce the processed load, which will require more imports from Petrobras and consequently, price increases to avoid shortages,” said the representative of Refina Brasil.

According to the association, the ministries of Mines and Energy, the Civil House, and Industry and Commerce have already been approached to discuss the matter, but have yet to receive a response.

The Lula Government’s decision to end the federal tax exemption on oil purchases comes at a time of great volatility in fuel prices in the international market. Now, the independent refineries await a response from the current government regarding the future of the provisional measure.

Independent Refineries Of The Refina Brasil Association Warn Of Possible R$ 5 Billion Loss In The Market In 2023, If The Lula Government Does Not Reissue The Exemption From Federal Taxes Including Oil Purchases

The Association of Independent Refineries Asks the Lula Government for a Revision of the Federal Tax Exemption. The Goal of Refina Brasil Is to Include the Purchase of Oil in the Domestic Market Alongside Diesel Oil and LPG by December 31st of This Year.

End of Federal Tax Exemption on Oil Purchases, Announced by the Lula Government, May Cause Billion-Dollar Shortfall in 2023

Independent Refineries May Become Hostages of Petrobras in the Domestic Market with the End of Federal Tax Exemption on Oil Purchases, Highlights Pinheiro

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Independent Refineries Of The Refina Brasil Association Warn Of Possible R$ 5 Billion Loss In The Market In 2023, If The Lula Government Does Not Reissue The Exemption From Federal Taxes Including Oil Purchases

The Association of Independent Refineries Asks the Lula Government for a Revision of the Federal Tax Exemption. The Goal of Refina Brasil Is to Include the Purchase of Oil in the Domestic Market Alongside Diesel Oil and LPG by December 31st of This Year.

End of Federal Tax Exemption on Oil Purchases, Announced by the Lula Government, May Cause Billion-Dollar Shortfall in 2023

Independent Refineries May Become Hostages of Petrobras in the Domestic Market with the End of Federal Tax Exemption on Oil Purchases, Highlights Pinheiro

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