As of 2 January 2020, the National Concessionaire and national and foreign petroleum investor companies, including entities engaged in the production of liquefied natural gas, will be obliged to sell to commercial banks the foreign currency required to pay for goods and services provided by foreign exchange residents, the exchange rate to be freely negotiated between the parties.

BNA Order 13/19, of 2 December 2019, also prohibits the execution of tripartite agreements between petroleum operator companies, commercial banks and contractors supplying goods and services to the operators. Tripartite agreements in force on 2 December 2019 cannot be renewed and will terminate on 31 December 2020. Order 13/19 repeals Order 7/14, of 8 October 2014.

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