Regulatory News

About 200,000 people participated in a demonstration, in downtown Rio de Janeiro, on Monday (26), to demand that President Dilma Rousseff veto the bill that will change the distribution of oil royalties, including areas that have already been tendered. A decision should be made by this Friday (November 30). If the proposal, already approved by Congress, is sanctioned, Rio de Janeiro and Espirito Santo will suffer the greatest losses. The governors of the two states have already announced that if this happens, they will take the matter to the Supreme Court.

The biggest expectation is that the president veto only part of the project. She would not modify the articles that address future exploration contracts, but would reject the amendment for existing contracts.

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