Espirito Santo Oil & Natural Gas Yearbook 2021
60
60
Figure 1 Main destinations of exportations
of crude oil of Espírito Santo in 2020
0
Netherlands- US$ 17.5 million
Indonesia US$ 20.1 million
Syngapore US$ 32.4 million
-
China US$ 36,9 mi
India US$ 49,0 mi
United States - US$ 79.5 million
Malaysia- US$ 331.6 million
Source: MDIC/Secex | Prepared by: Ideies/Findes
61
67
A
Until the 4th edition of the Espírito
Santo Petroleum Industry Year-
book, products "Repetro-Eligible
of originating from Repetro" in for-
eign trade analyses.
Repetro is a special customs re-
gime that allows an agent autho-
rized by the Federal Revenue Ser-
vice of Brazil to export and import
a list of goods intended for re-
search and exploration activities
in oil and natural gas deposits,
through temporary admission 29,
fictitious export 30, and draw-
back 31. As of the date of this pub-
lication, this permitted list con-
sisted of 124 NCMs 32 that could
benefit from this special customs
regime. It is worth noting that
these listed items are not fixed,
and are changed upon approval
of the inclusion or suppression of
certain products in the Regulatory
Directive that governs Repetro.
Since it is not possible to disag-
gregate official foreign trade data
into products that have or have
not benefited from Repetro, ex-
ports and imports of NCMs cov-
ered by this special regime could
overestimate the flow of foreign
transactions intended for serving
the oil and gas industry in Espírito
Santo. The reason for that is that
said list contains products that
do not exclusively serve the O&G
industry. Consequently, starting
with this 5th edition of the Espírito
Santo Oil Industry Yearbook, we
chose to remove Repetro-Eligible
products from our foreign trade
analysis.
29. Import, with a total suspension of payment
of federal taxes, in the case of goods used in the
exploration and production of oil and gas with the
commitment to be re-exported.
30. Export, without leaving the customs area,
based on the transfer of ownership of the goods
to a corporate entity domiciled abroad.
31. Import of inputs for the production of goods
that will be re-exported. Drawback suspends
some taxes and fees, such as PI, PIS import, CO-
FINS import, AFRMM and ICMS.
32. Common Mercosur Nomenclature (NCM) is a
type of classification for imported and exported
products, mainly based on the Harmonized Sys-
tem (HS Code).
BOX 1 - "REPETRO"-ELIGIBLE PRODUCTSView entire presentation