Royalties oil: ANP calls for extension of the review and the Rio government is trying to speed up the process

The state government of Rio de Janeiro has shown great concern regarding the application of criteria for review of postponement for the collection of oil royalties requested by the ANP to the Federal Supreme Court (STF), last March 2. In order to speed up the process, the government of Rio should appeal to the Minister of Finance, Henrique Meirelles and President Michel Temer.

As determined by the Supreme Court, the Agency would have until the date of March 1 to publish a resolution to revise the criteria for fixing the minimum price of oil and natural gas to be adopted in the calculation of royalties, however, the ANP asked the Supreme a request for extension of 30 days within.

According Exame.com site information, the government of Rio is counting on the resources to try to reduce the economic and financial crisis in the state and that has hurt the care and operation of services to the population. However, the measure will not only benefit the Rio de Janeiro, but also other oil producing states, since review of the criteria may increase the collection of units of the Federation with the production.

The government of Rio claims that the table for the calculation of the payment of royalties is outdated and that the reference value needs to be resized. The expectation is that the state can raise over 1 billion to 2 billion reais annually with the change. The Presidential Palace said it would not comment on the matter.

The ANP started to internally discuss the review of the ordinance in 2014 after being included in the regulatory agenda of the Agency. However, the ANP said it needs more time to establish the reference values, since not received the policy guidelines of the National Energy Policy Council (CNPE).

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