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The Brazilian oil giant sets a historic record, collecting BRL 54,5 billion from the Federal Government, states and municipalities. Significant values demonstrate that Petrobras' activities generate returns for society as a whole
Petrobras announced in a material fact to the market, on March 18, that it paid a total of BRL 2021 billion to the public coffers in 54,5 in royalties and special participations alone, the highest annual amount ever paid by the company. According to the oil company, this amount represents an increase of about 70% compared to 2020 (BRL 32 billion), and approximately 36% compared to 2019, the previous record (BRL 39,9 billion).
These expressive values demonstrate that the Petrobras activities generate returns not only for the company, but for society as a whole. In the last 5 years, the increase was even greater. The amount collected in 2021 is about 285% of royalties higher than what was paid in 2016 (R$ 14,2 billion).
Check below the evolution of royalties collected in the last 5 years
Petrobras is the main company that pays royalties and special participations to the Brazilian public coffers
Petrobras is the main company that pays royalties and special participations to the Brazilian public coffers. In 2021, around 79% of the total resources collected for royalties in Brazil were paid by the company. With regard to special participations, approximately 69% of the amount paid to public coffers in the period comes from Petrobras.
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Royalties constitute financial compensation owed by oil or natural gas exploration and production concessionaires. Royalties are levied on the production value of the oil or gas field and are collected monthly. Special participation is an extraordinary financial compensation owed by concessionaires for exploration and production in high volume production fields. The amounts are paid to the National Petroleum, Natural Gas and Biofuel Agency, which distributes the collected amount among the Union, States and Municipalities, beneficiaries defined in the legislation.
Petrobras creates good practices project for municipalities that receive oil income
Petrobras has expanded its activities in initiatives that reinforce the adoption of integrity practices in Brazilian society. Although the application of resources collected with royalties and special participations is the responsibility of the Union, the States and Municipalities, the company is implementing an initiative with the objective of contributing so that the resources collected from oil activities are better applied by the municipalities to generate value .
Petrobras started in Quissamã, in the North of Fluminense, a pioneering project named “Cooperar para Transformar” to support municipal management to improve public governance, internal controls, integrity and transparency, through solutions focused on efficiency to improve management of these resources.
The project has already shown good results: kissaman it is evaluating the creation of a fund to manage the extra revenues, a kind of medium and long-term savings with resources from oil income, and it has been taking steps to improve public governance instruments and the prevention of fraud and corruption.
