Framework for Priority Petroleum Utilization in Order to Meet Domestic Requirements Updated

In an effort to further optimize the utilization of petroleum in order to fulfill domestic requirements from sources other than those used to meet domestic market obligations, as well as to increase legal certainty relating to said utilization, the Minister of Energy and Mineral Resources (“Minister”) has issued Regulation No. 18 of 2021 (“Regulation 18/2021”), which updates provisions on the obligation to prioritize the utilization of petroleum and condensate (“Petroleum”) in order to fulfill domestic requirements.[1]