IBP Statement – Maintenance of the Export Tax on Crude Oil
The Brazilian Institute of Oil, Gas and Biofuels (IBP) regrets the decision by the Executive Management Committee of the Chamber of Foreign Trade (Gecex/Camex), announced on Thursday (9), to maintain the 12% Export Tax on crude oil through administrative measures, bypassing the proper legislative process.
Maintaining the Export Tax on the eve of the expiration of Provisional Measure No. 1,340/2026 does not remedy the legal, economic, and institutional shortcomings of the measure. Changing the instrument does not alter the substance of the tax: it remains a revenue-driven levy imposed on a strategic, capital-intensive industry that depends on stable, long-term rules.
The IBP warns of the negative impacts on production projects, investment plans, and business decisions, while reiterating its willingness to engage in dialogue with the relevant authorities on this matter.
