Rio de Janeiro will have $1 billion in royalties

From 2017 the Government of Rio de Janeiro and the municipalities in the State will receive more than 1 billion with the transfer of the oil royaties. The value was calculated on Thursday 15 December, after review of State representative Luiz Paulo (PSDB) and the resolution of the Minister Luiz Fux, the Federal Supreme Court (STF).

It was determined by the Minister to the national agency of petroleum, Natural gas and biofuels (ANP) have until March 1 to review the value of the fuel in the State of Rio de Janeiro. The measure should make the oil companies pay more with the review of the criteria for minimum pricing to be adopted in the calculation of royalties.

The decision took place in a conciliation hearing, because of the State Government decide, before resolution of the National Council of energy policy (CNPE), the National Agency to perform the calculation of charges until the commodity prices stay at $50 per barrel.

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