Regulatory News

The National Agency of Petroleum, Natural Gas and Biofuels (ANP), of Brazil, approved the holding of a public consultation and hearing to regulate the reduction of the royalty rate as an incentive for small and medium-sized companies. The consultation has a period of 90 days, starting from its publication in the Federal Official Gazette, and the hearing will take place by videoconference, on a date to be defined.

The purpose of the proposal is to encourage more investment in the fields that these companies operate. The performance of small and medium-sized companies in Brazil is an important catalyst for regional socioeconomic development, especially outside capital cities in the northeast. Currently, there are 60 fields operated by small companies and 32 by medium-sized companies.

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