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New Rule For Oil Reference Price Comes Into Effect And May Raise Royalties By Up To BRL 5 Billion

Published on 01/09/2025 at 11:50
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New ANP Rule Changes PRP Calculation, Includes Oil with 0.5% Sulfur and Should Increase Royalties for Federal, States, and Municipalities.

Starting this Monday (Sep 1, 2025), the new rule from the ANP (National Agency of Petroleum, Natural Gas, and Biofuels) for calculating the PRP (Reference Price of Oil) comes into effect. The direct impact will be felt in the distribution of royalties as early as November.

The main change is in the formula used. Previously, the calculation only considered fuel oil with a sulfur content of sulfur of 3.5%.

From now on, oil with 0.5% sulfur will also be included in the weight of the calculation. Each will have a weight of 50% in the weighting, balancing the two standards.

Expected Effects

The change is expected to raise the PRP, which means an increase in the values of royalties and special participation destined for the federal, states, and producing municipalities.

According to estimates from the Ministry of Mines and Energy, the increase could generate an additional R$ 5 billion in revenue between 2025 and 2026.

This adjustment aligns with structural changes imposed by the IMO (International Maritime Organization) in 2020.

The organization reduced the maximum limit of sulfur in marine fuels from 3.5% to 0.5%, creating a new global standard.

As the two types of oil continued to circulate, the ANP decided to reflect this reality in the calculation of the quality differential.

Transparency in the Oil Sector

The PRP does not represent the selling price of oil in the market. It serves as a regulatory reference used to calculate taxes and ensure transparency in the collection of royalties.

Therefore, in addition to standardizing the criteria, the measure gives more predictability to companies and federal entities.

Small and Medium Producers

Additionally, the revision brought a differentiated treatment for small and medium enterprises in the sector. For them, the old formula remains, based solely on oil with 3.5% sulfur.

The decision aims to preserve the economic viability and prevent these smaller producers from facing disproportionate impacts in royalty transfers.

With this, the ANP seeks to balance the fiscal needs of federal entities and the competitiveness of the sector, without neglecting those with a lower capacity to absorb sudden changes.

With information from Poder 360.

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Romário Pereira de Carvalho

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