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BOE-A-2026-16663 ·31 July 2026 ·Resolution Medium impact
Tax

Hydrocarbon concession holders: new reference prices for tax calculation and landowner payments (H1 2026)

The Directorate-General for Energy Policy and Mines has approved the reference prices for the first half of 2026, required to calculate the taxable base for the Tax on the Value of Gas, Oil, and Condensate Extraction. These prices apply to both tax payments and the economic compensation that concession holders must pay to the owners of the overlying land (Art. 13 of Order ETU/78/2017). The established values include crude oil, condensates (naphtha, kerosene, gas oil, propane, and butane), and natural gas.

In 3 key points

  1. Crude oil: 75.4560 euros/barrel (First) (Primero.a)
  2. Natural gas: 42.6431 euros/MWh (First) (Primero.c)
  3. Effective from the day following its publication (Second) (Segundo)

How it affects those involved

For field exploitation concession holders, these prices directly determine the amount of their tax burden and mandatory payments to landowners (Art. 13 of Order ETU/78/2017). An increase in these prices raises the tax base and the compensation obligation. For overlying landowners, these values define the amount of income they are to receive from extractive activities on their estates.

Lifecycle

2026-07-31PublishedPublished in the BOE
2026-08-01Into forceComes into force (Entrada en vigor (nota del analisis oficial del BOE))
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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