The payment of amounts collected in royalties in the oil and natural gas sector guarantees the movement of the regional economy. The Government of Rio de Janeiro has already accumulated a transfer of R$ 1,7 billion to municipalities in the state since the beginning of the year.

The results of oil and natural gas exploration and production projects in Rio de Janeiro continue at full speed in early February. The State Government, through the Treasury Department, paid the values referring to the period from January 30th to February 3rd to the municipalities of Rio de Janeiro. There were more than RS 291 million in collections and royalties in the sector only during this period.

Government of Rio de Janeiro announces transfer of R$ 291 million in royalties collected in the oil sector between January 30th and February 3rd

Rio de Janeiro's oil and natural gas market remains one of the most lucrative in Brazil at the start of 2023.

Regions like Macaé have become industrial hubs of great relevance across the national scene, attracting giant projects for the exploration of fuels.

Now, the State Government, through the Finance Department, has announced the transfer of IPI, ICMS and IPVA collections, as well as royalties from the oil sector, to regional municipalities.

More than R$ 291 million were delivered to the 92 municipalities that participate in the fuel exploration projects.

The value refers only to the equivalent production from January 30th to February 3rd. The high numbers passed on by the Government of Rio de Janeiro reinforce the state's position as one of the largest oil and gas producers in the country.

Since the beginning of this year, when adding the quotas and transfers related to federal transfers and the revenue directly collected by the State, the municipalities received an accumulated total of R$ 1,7 billion.

As provided for in Complementary Law No. 63, of January 11, 1990, oil royalty deposits and sector collections are carried out weekly by the Treasury Department of Rio de Janeiro.

To consult the values ​​of previous years, you can access the documents at Treasury Portal from the Treasury Department website.

Royalties and collections from the sector are passed on by the Government of Rio de Janeiro according to the Participation Index of Municipalities

Weekly payments made by the Government of Rio de Janeiro to oil producing municipalities may vary according to current legislation in each location.

Depending on the month, there may be up to five transfer dates, thus ensuring an even greater work of dividing the amounts.

In addition, the monthly calendar, tax collection deadlines and the volume of funds collected also influence the amount of payments and deadlines for deposits.

Tax collection schedule by taxpayers is concentrated on the 10th of each month.

All transfers from the collection of royalties in the oil sector are carried out according to the Municipal Participation Index (IPM).

They are determined annually in accordance with the Federal Constitution and the provisions of Complementary Federal Law No. 63, of January 11, 1990, State Law No. 2.664, of December 27, 1996, and No. 5.100, of 4 October 2007, and State Decree No. 47.664 of June 29, 2021.

In this way, the Government of Rio de Janeiro manages to carry out a fair transfer of the amounts collected in royalties in the segment.