Brazilian revenue from royalties from oil exploration could grow by 80% and reach BRL 66 billion in 2022.
This is a projection by the Federation of Industries of the State of Rio de Janeiro (Firjan), a unit of the federation that concentrates more than 80% of Brazil’s proven reserves of the commodity.
The increase is a result of the appreciation of the barrel of Brent oil and the devaluation of the real against the dollar.
According to official data from the National Agency of Petroleum, Natural Gas and Biofuels (ANP), in 2021 Brazil raised the equivalent of R$ 36 billion in resources from this source.
The projection made by Firjan’s oil, gas and naval management also takes into account the current growth rate of oil production in the country.
Coordinator of the Strategic Content Division of the Petroleum Management of the entity, Thiago Valejo explains that the volume of resources can be even greater, because it does not take into account the special participations, paid for the specific exploration of very profitable fields, based on the volume of production .
“These are resources distributed to the three public entities, the Union, states and municipalities. Looking at it qualitatively, the more resources states and municipalities collect, the more they can invest in strategic areas, such as education and health, generating a range of benefits for society”, evaluates Valejo.
Rio de Janeiro, which, according to the ANP, has more than 80% of Brazil’s proven oil reserves, will see its revenue grow above average.
“We expect an 85% growth in the collection of royalties in 2022, from R$8 billion to R$14 billion. A movement of similar magnitude should also occur in the municipalities, above all, Niterói and Maricá”, concludes Valejo.
Source: CNN Brasil
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