Oil & Gas Alert - March 2026

Following the declaration of an emergency in the natural gas supply through the Production Systems, Hydrocarbon Transportation by Pipeline Systems, and Natural Gas Distribution through Pipeline Networks, established by Vice-Ministerial Resolution No. 004-2026-MINEM/VMH of March 1, 2026 (“RVM 004”), and the activation of the natural gas rationing mechanism set forth in Supreme Decree No. 017-2018-EM, ordered by Directorate Resolution No. 020-2026-MINEM/DGH of March 1, 2026, the Ministry of Energy and Mines (“MINEM”) and the Supervisory Agency for Investment in Energy and Mining (“OSINERGMIN”) approved the following complementary measures:

1. Supreme Decree No. 002-2026-EM, Supreme Decree that amends Supreme Decree No. 017-2018-EM, which establishes the rationing mechanism for the supply of natural gas to the domestic market in the event of an emergency declaration and sets forth complementary measures.

The regulation in question introduces amendments aimed at enabling the General Directorate of Hydrocarbons of the Ministry of Energy and Mines (MINEM) to prioritize, according to the amount of natural gas available, the supply to industries, power generation companies that are not part of the National Interconnected Electric System, companies supplying health centers and/or hospitals that are unable to acquire alternative fuels, agents engaged in fuel production activities, and other agents essential to the country’s security, public health, and national interest, based on information previously submitted by the Natural Gas Concessionaires.

Additionally, Article 1 of Supreme Decree No. 063-2010-EM, which grants OSINERGMIN the authority to issue temporary measures allowing exceptions to the compliance with commercialization and safety regulations under certain circumstances, has been amended in order to include emergency situations—such as the one declared by MINEM through RVM 004—as grounds for OSINERGMIN to approve temporary exceptional measures.

2. OSINERGMIN Board of Directors Resolution No. 039-2026-OS/CD, Resolution approving exceptional and temporary measures to allow an exemption from the registration of Direct Consumers in the Hydrocarbons Registry within the framework of the emergency declaration issued through Vice-Ministerial Resolution No. 004-2026-MINEM/VMH:

Pursuant to the regulation mentioned in the preceding paragraph, OSINERGMIN has established an exceptional and temporary mechanism that allows the adoption of transitional measures granting an exemption from registration in the OSINERGMIN Hydrocarbons Registry, in order to facilitate the alternative supply of fuels to industrial consumers affected by the natural gas rationing, thereby contributing to the continuity of their operations and the stability of the energy supply during the emergency situation.

3. Directorate Resolution No. 021-2026-MINEM/DGH, which grants an exception from compliance with Article 43 of the Regulation for the Commercialization of Liquid Fuels and Other Products Derived from Hydrocarbons to Producers and Wholesale Distributors that have their own or contracted storage capacity for Regular and Premium Gasolines and Gasohols, as well as Diesel B5, at a Supply Plant.

This measure has been adopted due to the low inventory levels of Regular and Premium Gasolines and Gasohols, as well as Diesel B5, at various Terminals and Supply Plants nationwide; limitations in the production of Premium Gasoline at the Talara Refinery; adverse weather conditions affecting the timely replenishment of fuel inventories via maritime transport; and the increase in demand for Diesel B5 as a result of the natural gas supply emergency declared through RVM 004 and the activation of the rationing mechanism. The measure will remain in force for thirty (30) calendar days, counted from March 5.