Government Expects to Raise R$ 400 Billion from Sale of Union Oil Sharing Contracts Governing Pre-Salt Exploration, According to New Bill

Written by Ruth Rodrigues

Published on 13/06/2022 at 18:39

Foto: Pixabay

Seja o primeiro a reagir!

According to the new bill submitted to the National Congress on Thursday (09/06), the Federal Government expects to raise R$ 400 billion from the sale of the Union’s oil sharing contracts. Thus, the contracts governing the exploration of the pre-salt in Brazil would be controlled by the private sector with the commercialization of the Union’s shares.

New Bill from the Bolsonaro Administration Provides for the Sale of the Union’s Oil Sharing Contracts Regarding Pre-Salt Exploration to the Private Sector

Submitted this week and awaiting a vote in the National Congress, the current bill from the Bolsonaro Administration for the oil and gas sector anticipates a revenue of R$ 400 billion from the sale of the Union’s oil sharing contracts. This model category governs the exploration contracts of the pre-salt layer, which concentrates the majority of national oil and gas production and could be handed over to the private sector if the bill is approved.

Although the government knows there will still be some hurdles to put this sale into practice, it now awaits the voting of the bill in the Chamber and the Senate to move it forward. The text of the bill for the sale of the Union’s oil sharing contracts also includes the initiative for the privatization of Petrobras and is yet another move by the government to adopt liberalism in the oil and gas sector in Brazil.

ARTICLE CONTINUES BELOW

Paulo Guedes Managed to Advance a New Bill for the Sale of Pre-Salt Exploration Sharing Contracts with the Change in Leadership of the MME

One of the main hurdles for Paulo Guedes’ administration to carry forward the bill for the sale of the Union’s oil sharing contracts was the leadership of the Ministry of Mines and Energy, which disagreed with the concession for pre-salt exploration. Thus, with the recent change in leadership of the Ministry, the Minister of Economy secured the necessary opening to advance the initiative.

Currently, companies such as Petrobras, Shell, Total, CNPC, CNOOC, Ecopetrol, Repsol, Equinor, Exxon, Petrogal, and BP have active sharing contracts for pre-salt oil exploration.

If the bill is approved by the National Congress, the Union will be authorized to sell its share in the current sharing contracts, leaving the control of this regime under the private sector.

Finally, the main justification from the Bolsonaro government is that the private sector would be able to deal adequately with instability in the oil and gas sector and that the management of production would be more efficient: “The fact is that the Union does not have the same conditions to bear the risks of the business as the private sector, nor to sell oil and natural gas with the same degree of efficiency as the private sector,” argues the government.

Government Expects to Raise R$ 400 Billion from Sale of Union Oil Sharing Contracts Governing Pre-Salt Exploration, According to New Bill

New Bill from the Bolsonaro Administration Provides for the Sale of the Union’s Oil Sharing Contracts Regarding Pre-Salt Exploration to the Private Sector

Paulo Guedes Managed to Advance a New Bill for the Sale of Pre-Salt Exploration Sharing Contracts with the Change in Leadership of the MME

Scientists enter a narrow, flooded cave 500 meters deep and find giant dinosaur footprints on the ceiling measuring up to 1.25 meters, preserved in such a rare way that a new type of trace had to be created.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

A giant half-ton ring fell in Kenya from space, and more than a year later, scientists still do not know where it came from.

After two years of internal discussions, Paraguay has finally regulated the law that opens the country to foreign technology and service companies with tax incentives that promise to create thousands of jobs and change the economy.

Map reveals how the Earth may look in 250 million years: continents will reunite in the Last Pangaea, 92% of the planet could become uninhabitable for mammals, and Spain appears among the rare possible exceptions.

About 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland, with houses forming a continuous row and narrow agricultural strips emerging behind them, creating one of the most unusual rural patterns in Europe.

With 1,000 buses sent abroad, the Brazilian manufacturer consolidates the strength of national technology and takes on a leading role in public transportation across all of Latin America.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

Workers are being forced to train the AI that will replace them in their jobs.

From discarded waste to completed constructions: startup creates modular blocks with recycled plastic that reduce construction costs, eliminate the need for specialized labor, and accelerate projects in Brazil.

Archaeologists found in the desert an oasis 5,000 years old surrounded by giant walls, in a discovery that reveals a civilization much more complex, powerful, and organized than previously thought.

Government Expects to Raise R$ 400 Billion from Sale of Union Oil Sharing Contracts Governing Pre-Salt Exploration, According to New Bill

Aiming for the Private Sector Initiative Regarding the Exploration of the Pre-Salt, the Government Now Awaits the Sale of the Union’s Oil Sharing Contracts with the New Bill Submitted to the National Congress for Changes in the Oil and Gas Sector.

New Bill from the Bolsonaro Administration Provides for the Sale of the Union’s Oil Sharing Contracts Regarding Pre-Salt Exploration to the Private Sector

Paulo Guedes Managed to Advance a New Bill for the Sale of Pre-Salt Exploration Sharing Contracts with the Change in Leadership of the MME

Scientists enter a narrow, flooded cave 500 meters deep and find giant dinosaur footprints on the ceiling measuring up to 1.25 meters, preserved in such a rare way that a new type of trace had to be created.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

A giant half-ton ring fell in Kenya from space, and more than a year later, scientists still do not know where it came from.

After two years of internal discussions, Paraguay has finally regulated the law that opens the country to foreign technology and service companies with tax incentives that promise to create thousands of jobs and change the economy.

Map reveals how the Earth may look in 250 million years: continents will reunite in the Last Pangaea, 92% of the planet could become uninhabitable for mammals, and Spain appears among the rare possible exceptions.

About 6,000 residents live concentrated along a single street nearly 9 km long in the interior of Poland, with houses forming a continuous row and narrow agricultural strips emerging behind them, creating one of the most unusual rural patterns in Europe.

With 1,000 buses sent abroad, the Brazilian manufacturer consolidates the strength of national technology and takes on a leading role in public transportation across all of Latin America.

With the war silencing the wells of Iran, Brazil set a record of 5.3 million barrels per day and rose in the global oil ranking without anyone noticing — the pre-salt now accounts for 80% of everything that comes from the seabed.

After years of delays and billions invested, the Golden Pass megaterminal in Texas is about to start exporting liquefied gas and will reshape the global energy map amid the Middle East crisis.

The artificial intelligence market within the oil industry is worth billions today and will more than double by 2033, and those who do not get on board now with the race for digital twins and autonomous drilling will be left behind.

Petrobras quietly installed an artificial intelligence system called Smart Tocha in six of its largest refineries, and the technology independently controls the burning of gases to reduce emissions without any operator needing to intervene.

Most oil platforms in the world operate at only 77% of their potential, and McKinsey has just calculated that artificial intelligence alone can cut costs in half and increase value by 30% in just one year.

Seen from space, an image taken by an astronaut shows in Argentine Patagonia the exact point where a colossal glacier, a turquoise-blue lake, and a greenish arm of water meet, creating one of the rarest and most impressive landscapes in the region.

Workers are being forced to train the AI that will replace them in their jobs.

From discarded waste to completed constructions: startup creates modular blocks with recycled plastic that reduce construction costs, eliminate the need for specialized labor, and accelerate projects in Brazil.

Archaeologists found in the desert an oasis 5,000 years old surrounded by giant walls, in a discovery that reveals a civilization much more complex, powerful, and organized than previously thought.