Agência Nacional do Petróleo corta em R$ 3,7 bi projeção de receitas petrolíferas do Brasil para este ano

National Agency of Oil Cuts Brazil’s Oil Revenue Projection by R$ 3.7 Billion for This Year

Written by Roberta Souza

Published on 15/04/2020 at 18:04

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The Devaluation of the Commodity Leads ANP to Make a New Revision and Decrease by R$ 3.7 Billion the Projections of Royalties and Special Participation Collections from Oil Companies in Brazil in 2020.

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The initial forecast from ANP for annual revenue was R$ 60 billion; after the first revision, the value dropped to R$ 43.9 billion, and now the expected revenue is R$ 40.2 billion. This entire decline is being attributed to low prices for oil barrels in the international market.

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For the calculations, the National Petroleum Agency considered the new price for the barrel of oil to be US$ 33, different from the last reference of US$ 43 and almost half of the initial reference, which was US$ 60.

The Agency also made new calculations and projections for the years between 2020 and 2023, with the final revenue result reaching R$ 169.1 billion, reducing the value of the last projection by 12.8% and being 27% lower than the initial projection value.

For this year of 2020, the forecast is that the municipality with the highest revenue will continue to be Maricá, in the Metropolitan Region of Rio de Janeiro, with a revenue forecast of R$ 1.4 billion. To give an idea of the size of this municipality’s amount, the entire State of Rio de Janeiro has a projection to collect approximately R$10.96 billion; that is, the municipality alone is responsible for 13% of Rio’s collections.

Another factor that led the Agency to make a new revision of the revenue projections of Brazilian oil companies is the constant change in exchange rates. Although the rise of the dollar helps boost revenues, this factor is still not enough to compensate for the sharp drop that the price of the commodity has suffered.

National Agency of Oil Cuts Brazil’s Oil Revenue Projection by R$ 3.7 Billion for This Year

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