Over R$ 2 Billion Credited in First Deposit of Sovereign Fund with Oil Royalties from Rio de Janeiro

Written by Junior Aguiar

Published on 29/03/2022 at 13:56

Seja o primeiro a reagir!

Expectations Are That the Fund Will Help Reduce the Dependence of the Fluminense Economy on the Oil Sector, Balancing Public Accounts with Price Fluctuations of the Product.

The Sovereign Fund of Rio de Janeiro with Oil Royalties was launched by the Governor of Rio de Janeiro, Cláudio Castro (PL); and by the President of the Legislative Assembly of the State (Alerj), André Ceciliano (PT); on this Monday (29), at the Guanabara Palace. Other authorities and representatives from state and municipal public power were also present, such as the Mayor of Macaé (the national petroleum city), Welberth Rezende.

On this occasion, R$ 2.1 billion was deposited, which is equivalent to 30% of the difference in revenue from royalties and special participations between 2021 and 2020. These reserve resources come from oil revenues and other sources. Furthermore, it is a way to become less dependent on the sector to prevent a situation similar to that of 2014 from happening again. At that time, Rio de Janeiro plunged into the worst financial crisis in its history due to the sharp drop in the commodity.

The Sovereign Fund of Rio de Janeiro with Oil Royalties was established by the Constitutional Amendment 86/21 and regulated by the Complementary Law 200/22. Both projects were authored by the presidency of Alerj, to facilitate the financing of structural actions aimed at social and economic development of the state.

ARTICLE CONTINUES BELOW

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

“We are preparing to be giants in the next period. I am sure that Rio looks to the future, looks at development in a very interesting way”

Excerpt from the speech of the Governor of Rio, Cláudio Castro.

*Ceremony That Launched the Sovereign Fund of Rio with Oil Royalties* *| Image: Alerj*

Expectations for Structural Investments with the Sovereign Fund of Rio

The Sovereign Fund with oil royalties can facilitate new investments, which directly enables the generation of more jobs and income throughout Rio de Janeiro. According to the President of Alerj, the next step now is to discuss structural investments. “The production of fertilizers and the construction of the Rota 4b gas pipeline (to transport gas produced in the Santos Basin)”, highlights André Ceciliano. The expectation is that 2022 will be positive in royalty collection, which has already surpassed 30% compared to the year 2021.

It may also receive donations from public and private entities and balances from previous fund exercises. The Sovereign Fund will have a Management Council, chaired by the Secretary of Economic Development, Energy and International Relations, Vinícius Farah, and formed by various other secretaries and institutions. Donations may come from public and private entities.

Over R$ 2 Billion Credited in First Deposit of Sovereign Fund with Oil Royalties from Rio de Janeiro

Expectations Are That the Fund Will Help Reduce the Dependence of the Fluminense Economy on the Oil Sector, Balancing Public Accounts with Price Fluctuations of the Product.

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Expectations for Structural Investments with the Sovereign Fund of Rio

At just 14 years old, a boy creates a system without energy, using steel pipes buried in the ground, that irrigates seedlings with moisture from the air, to combat the water scarcity threatening reforestation in northern China.

Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Scientists want to turn internet cables into sensors to listen for tremors on the Moon, and the plan could permanently change how the Artemis missions will explore, map risks, and protect astronauts on the lunar surface.

The Federal District bets on innovation and sustainability by launching a hydrogen-powered bus on a new tourist route, promising to reduce emissions and transform the urban experience for residents and visitors.

Measuring just 3 cm and with skin that resembles a starry sky, the “galaxy frog” lives hidden in the mountains of India and is one of the rarest and most enigmatic species in the forests of the Western Ghats.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.

The German economist Wolf-Peter Schill has no doubts: “Electric cars are already far superior to cars with internal combustion engines.”

Researchers discover a possible hydrogen deposit of up to 46 million tons beneath an ancient coal basin, and the volume could exceed half of the entire global production.

While the world looks at oil, the war with Iran is already disrupting helium supply from Qatar, affecting car and iPhone chips, threatening AI expansion, and putting pressure on aluminum packaging at the highest value in four years.

Over R$ 2 Billion Credited in First Deposit of Sovereign Fund with Oil Royalties from Rio de Janeiro

Expectations Are That the Fund Will Help Reduce the Dependence of the Fluminense Economy on the Oil Sector, Balancing Public Accounts with Price Fluctuations of the Product.

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Expectations for Structural Investments with the Sovereign Fund of Rio

At just 14 years old, a boy creates a system without energy, using steel pipes buried in the ground, that irrigates seedlings with moisture from the air, to combat the water scarcity threatening reforestation in northern China.

Where there was only sand and wind at 40 degrees, China built a megacity of 500,000 inhabitants with farms, wineries, and universities in the middle of the desert using melted glacier water from hundreds of kilometers away.

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Scientists want to turn internet cables into sensors to listen for tremors on the Moon, and the plan could permanently change how the Artemis missions will explore, map risks, and protect astronauts on the lunar surface.

The Federal District bets on innovation and sustainability by launching a hydrogen-powered bus on a new tourist route, promising to reduce emissions and transform the urban experience for residents and visitors.

Measuring just 3 cm and with skin that resembles a starry sky, the “galaxy frog” lives hidden in the mountains of India and is one of the rarest and most enigmatic species in the forests of the Western Ghats.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.

The institute that trained the greatest aerospace engineers in Brazil has just opened its first campus outside São Paulo after 75 years: ITA Ceará will have R$ 445 million, new courses in energy and systems, and classes are expected to start in 2027.

Luciano Hang, owner of Havan, goes to Juiz de Fora after the tragedy in February, brings R$ 1 million, hands out R$ 2,000 cards, and donates up to R$ 15,000 to victims in the region.

The Brazilian passport allows legal residence in dozens of countries without the need for a prior visa, and most Brazilians are unaware that they can apply for residency directly upon arriving in nations in South America, Africa, and even Europe.

A study confirms that the natural gas sector will reduce greenhouse gas emissions in Brazil by 0.5% and accelerate the energy transition by 2026.

Petrobras implements a severe adjustment and confirms a 55% increase in the price of aviation kerosene with a proposal for installment payments for the companies.

The German economist Wolf-Peter Schill has no doubts: “Electric cars are already far superior to cars with internal combustion engines.”

Researchers discover a possible hydrogen deposit of up to 46 million tons beneath an ancient coal basin, and the volume could exceed half of the entire global production.

While the world looks at oil, the war with Iran is already disrupting helium supply from Qatar, affecting car and iPhone chips, threatening AI expansion, and putting pressure on aluminum packaging at the highest value in four years.