One-Third of This Year's Oil Auction Revenue Should Go to States and Municipalities

One-Third of This Year’s Oil Auction Revenue Should Go to States and Municipalities

Written by Renato Oliveira

Published on 06/06/2019 at 01:00

Updated on 05/06/2019 at 20:27

Texto do orçamento aprovado

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Budget That Requires The Federal Government To Transfer 30% Of What Is Collected In The Oil Auctions Still To Take Place This Year Has Been Approved And Will Now Go To Vote In The Plenary

On Tuesday, 04/06, the Chamber of Deputies approved the text that provides for States, the Federal District, and municipalities to receive part of the funds from the auction of the excess oil from the pre-salt in the Santos Basin.
Deputy Carlos Henrique Gaguim (DEM-TO) partially changes the distribution of pre-salt resources but kept the base text forwarded by the Senate.

Carlos Henrique also requested that the federal government, with part of the collected amount, compensate Petrobras for losses from the variation in oil prices related to the onerous assignment contract in the Santos Basin.

ARTICLE CONTINUES BELOW

Processing Of The Proposal

Approval of the text of the proposal by the Chamber Plenary is still pending, where it must be voted on in two rounds.
The proposal should be split in the plenary into two parts; one part, which addresses the amendments, if approved, will go to promulgation.

Meanwhile, the sections on the distribution of pre-salt resources will be sent to the Senate in the form of a new PEC. Constitutional amendment proposals can only become reality if the version approved by both Houses is the same.

One-Third of This Year’s Oil Auction Revenue Should Go to States and Municipalities

Budget That Requires The Federal Government To Transfer 30% Of What Is Collected In The Oil Auctions Still To Take Place This Year Has Been Approved And Will Now Go To Vote In The Plenary

Processing Of The Proposal

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One-Third of This Year’s Oil Auction Revenue Should Go to States and Municipalities

Budget That Requires The Federal Government To Transfer 30% Of What Is Collected In The Oil Auctions Still To Take Place This Year Has Been Approved And Will Now Go To Vote In The Plenary

Processing Of The Proposal

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

With 7.4 trillion tons of artificial snow pumped in 10 years, an extreme operation could stabilize the West Antarctic ice sheet and prevent a sea level rise of more than 3 meters, but it would require snow cannons, ocean water, and energy on an almost industrial scale at the end of the world.

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In the Saudi Arabian desert, the world’s largest green hydrogen plant is 80% complete and will use 4 gigawatts of solar and wind energy to produce 600 tons of clean fuel per day when it opens in 2027.

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