Brazil Looking for $6.2 Billion From Its Oil Industry

Brazil Looking for $6.2 Billion From Its Oil Industry

Brazil’s government is looking to extract some $6.2 billion from the country’s oil industry in a bid to shore up state finances, Bloomberg has reported, saying one way to get more money out of oil producers was by “reviewing” the reference prices used to set oil taxes. Another way to raise money from the oil industry that the government is considering is the sale of more exploration licenses, Bloomberg also wrote. Brazil has been struggling to a…

Brazil To Source $6.2 Billion From Oil Industry To Meet Fiscal Goals

Brazil’s energy ministry disclosed that some of these measures include selling oil exploration licenses and reviewing the reference prices used to calculate oil taxes. Brazil’s energy ministry has decided to turn to the oil industry to raise around $6.2 billion over the next two years to help the government meet its fiscal targets. Alexandre Silveira, Minister of Mines and Energy, put forth this proposal to President Luiz Inácio Lula da Silva on…

Brazil Seeks $6.2B from Oil Industry to Shore Up Finances

The energy ministry proposed measures to raise around $6.2 billion from the oil industry over the next two years to help the government meet its fiscal targets.