Ancap returned to positive numbers after the setback it suffered in 2020, when it closed with a loss of US$ 12 million. According to the data of the balance that the oil company presented to the press this Tuesday, last year it closed with an accounting profit of US$ 88 million.
This result occurred despite the fact that the Executive Branch decided to freeze fuel rates at the end of last year on the grounds of an extraordinary profit from the sale of diesel to UTE for the export of electricity to Brazil. During that period, the oil company sold fuels below the theoretical import parity price set by Ursea, which has been extended so far this year, since the government has decided to partially transfer the rise in oil to prices. for sale to the public.
According to the presentation of the oil entity, the negative result of the monopoly market was due to the fact that it made sales below import parity for much of the year. According to the entity, In 2021 “society paid about US$ 159 million less” with respect to the value that the international market recommended for all the refined fuels that Ancap markets.
According to the data disclosed by Ancap, the company registered a loss of US$ 32 million in the monopoly market, which was reversed with the results of the businesses in competition, a hedge for the exchange rate and the contribution of the controlled companies.
On the other hand, in the markets in competition, the entity achieved a profit of US$ 41 million. On the other hand, the sales of diesel oil to UTE for the export of electrical energy to Brazil implied for the company an accounting profit of US$ 56 million.
Environmental liability for US$ 26 million
In the presentation of the income statements, Ancap authorities indicated that 2021 was the first time that the entity recognized an environmental liability to be remedied for the equivalent of US$ 25.9 million, according to an action plan prepared in conjunction with the Ministry of Environment. That amount arises from an audit arranged in May 2020 on impact evaluations between 2003 and 2006, which had not been recognized until now.
