On December 6, 2019, the Document amending the Minimum Petroleum Storage Public Policy (the "Document") was published in the Official Gazette of the Federation ("DOF").
Through the Document, the Ministry of Energy reduced the obligation of the minimum number of days of progressive storage corresponding to all permit holders who commercialize or distribute imported or domestic gasoline, diesel and turbosine and make sales to end users or service stations. Therefore, the obligation to store minimum inventories of gasoline and diesel from 2020 to 2025 in national territory decreased to 5 days, and for turbosine it will be 1.5 days of storage in airports and / or airfields and an additional 1.5 days as a monthly average.
The new minimum inventory obligation is intended to take effect as of July 1, 2020.
Before the Document was published in the DOF, the minimum storage obligation would take effect as of January 2020 and from January 2022 and 2025, the magnitude of such obligation would be gradually increased.
The minimum mandatory inventories for the first phase of implementation consisted of 5 days of sales, calculated based on the figures for the previous year, with the intermediate goal of 8 days of sales. Also, according to the request of the industry, the levels of quarterly average inventories of 9 days of sales by 2022, were to be met, being the final goal of 11 days of sales as a minimum inventory and 13 days as a quarterly average.
The Document will be mandatory the day after its publication in the DOF and may injure various members of the industry. In case you require more information on the subject or a legal strategy for the defense of your interests, please contact us. It would be a pleasure to provide you advice.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.