Rio de Janeiro Is The Only State to Exceed The Billion Mark, And The City Of Maricá Is The Highest Revenue Collector In Brazil
According to data from ANP (National Agency of Petroleum, Natural Gas and Biofuels), the state of Rio de Janeiro is the clear leader in revenue from royalties and Special Participation (PE). In line with the investment that Petrobras will make in the Campos Basin.
Only this year, from January to July, R$ 7,130,734,157.57 was transferred to the state, and according to the agency’s projection, the government of Rio de Janeiro may receive R$ 80.6 billion by 2023.
The state of Rio de Janeiro was the only one to exceed the billion mark, achieving an isolated leadership, as the second-place state is São Paulo, which received R$ 851.4 million.
Royalties are a financial compensation owed to the Union to the states, the Federal District, and the municipalities benefiting from companies that produce oil and natural gas in Brazilian territory: a remuneration to society for the exploitation of these non-renewable resources.
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See how the ranking looks from January to July for the main states regarding royalties and Special Participation (PE) related to oil exploration:
Rio de Janeiro: R$ 7,130,734,157.57
São Paulo: R$ 851.4 million
Espírito Santo: R$ 762 million
Bahia: R$ 221.4 million
Rio Grande do Norte: R$ 132 million.
Regarding the cities that collected the most in the first seven months of the year, the current ranking is as follows:
Maricá: R$ 841.3 million
Niterói: R$ 718.1 million
Macaé: R$ 344.8 million
Campos dos Goytacazes: R$ 304.8 million
Rio de Janeiro: R$ 190.3 million
On the ANP website, there is a tool that simulates how much each state will receive in the next five years, and the state of Rio de Janeiro is expected to receive around R$ 10 billion in 2020, but in 2023 this amount drops to R$ 8.7 billion.
The ANP bases its projections on the production volume of wells, net revenue, reference price of oil, exchange rate, and progressive tax rates.
Royalties are paid monthly by all producing fields, and the PE is a financial compensation paid quarterly only to fields with a large volume of production and profitability.
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