Battle Over Royalties Continues in Brazil

By Andrew Willis, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – A result of the ongoing battle over oil royalties paid in Brazil, is an increased attention to royalties paid in the mining and hydroelectricity energy sector. Meanwhile, the long-running dispute over oil royalties took a further twist on December 17th when a supreme court judge blocked an upcoming congressional vote intended to override a presidential veto.

Brazilian oil royalties – about ten percent of company revenue - are expected to total roughly R$14.3 billion (US$6.8 billion) this year, with a further R$3.6 billion coming in . . .

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