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The Payment of Revenue Collected from Royalties in the Oil and Natural Gas Sector Ensures the Movement of the Regional Economy. The Government of Rio de Janeiro Has Already Accumulated a Transfer of R$ 1.7 Billion to the Municipalities of Fluminense Since the Beginning of the Year.
The results of oil and natural gas exploration and production projects in Rio de Janeiro are in full swing at the beginning of February. The State Government, through the Secretary of Finance, has made the payment of the amounts related to the period from January 30 to February 3 to the Fluminense municipalities. There were over R$ 291 million in revenues and royalties in the sector during this period alone.
Government of Rio de Janeiro Announces Transfer of R$ 291 Million in Royalty Revenues in the Oil Sector from January 30 to February 3
The oil and natural gas market in Rio de Janeiro continues to be one of the most profitable in Brazil at the beginning of 2023.
Regions such as Macaé have become major industrial hubs across the national landscape, attracting giant projects for fuel exploration.
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Alert in the global energy market: Severe tropical cyclone hits the coast and disrupts gas production at major plants in Australia, threatening global supply.
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Petrobras finds high-quality oil in the pre-salt at 113 km from RJ and reignites expectations about strategic reserves in the Campos Basin.
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Ocyan opens registrations for startups focused on innovation in the oil and gas sector and will select projects for Innovation Day with the support of Nexio.
Now, the State Government, through the Secretary of Finance, has announced the transfer of IPI, ICMS, and IPVA revenues, as well as royalties from the oil sector, to the regional municipalities.
Over R$ 291 million have been delivered to the 92 municipalities that participate in the fuel exploration projects.
This amount refers only to the equivalent production from January 30 to February 3. The high numbers transferred by the Government of Rio de Janeiro reinforce the state’s position as one of the largest oil and gas producers in the country.
Since the beginning of this year, by adding the quotas and transfers related to federal transfers and the revenue directly collected by the State, the municipalities have received a total of R$ 1.7 billion.
As provided for by Complementary Law No. 63, of January 11, 1990, royalty deposits from oil and revenues from the sector occur weekly through the Secretary of Finance of Rio de Janeiro.
To check the amounts from previous years, you can access the documents at the Treasury Portal on the Secretary of Finance’s website.
Royalties and Revenues from the Sector Are Transferred by the Government of Rio de Janeiro According to the Municipal Participation Index
The weekly payments made by the Government of Rio de Janeiro to the oil-producing municipalities may vary according to current legislation in each location.
Depending on the month, there may be up to five payment dates, thus ensuring a more extensive distribution of the amounts.
Moreover, the monthly calendar, the deadlines for tax collection, and the volume of collected resources also influence the number of payments and the deadline for deposits.
The tax collection schedule for taxpayers is concentrated on the 10th of each month.
All royalty revenue transfers in the oil sector are made according to the Municipal Participation Index (IPM).
They are calculated annually according to the Federal Constitution and the provisions of Complementary Federal Law No. 63, of January 11, 1990, State Laws No. 2,664, of December 27, 1996, and No. 5,100, of October 4, 2007, and State Decree No. 47,664, of June 29, 2021.
Thus, the Government of Rio de Janeiro can make a fair transfer of the amounts collected in royalties in the segment.
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