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Brazil inches ahead with plan to tax crude oil exports, create fuel price fund | Hellenic Shipping News Worldwide

Brazil inched toward potentially imposing a tax on crude oil exports as part of a broader move aimed at insulating Latin America’s largest economy from international oil and refined product price volatility, including a price-stabilization fund for domestic diesel, gasoline and LPG. The Senate Economic Affairs committee passed the measure implementing the tax and fuel . ....

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When the Going Gets Tough the Tough get Going: Brazil Oil & Gas Thrives Despite the Pandemic | Mayer Brown - Energy Forward


In a speech on 24 November 1992, marking her
Ruby Jubilee on the throne, Queen Elizabeth II said, “1992 is not a year on which I shall look back with undiluted pleasure. In the words of one of my more sympathetic correspondents, it has turned out to be an
annus horribilis.”
Annus horribilis. This is a moniker that oil and gas insiders might well apply to 2020 given the disastrous effects on the industry from Covid-19 pandemic (“Pandemic”) and its accompanying recession which brought a precipitous fall in demand and price. Indeed, in May the price of crude oil briefly went negative for the first time in history. This was followed by massive layoffs across the board and sharply curbed investments in planned and ongoing projects. Several major oil companies announced profound changes in their long-range focus from hydrocarbons to greener energy. ....

Rio Ventura , Rio Grande Do Norte , Ponta Do Mel , Lagoa Parda , Tucano Sul , Mayer Brown , Audit Court , Brazilian Petroleum Institute , Brazilian Labor Party , Energy Forward , Petrobras Oil Gas , Petrobras Divestment Program , Divestment Program , National Energy Policy Council , National Petroleum Agency , Queen Elizabeth , Petrobras Oil , Fazenda Bel , Natural Gas , Gas Law , Supreme Federal Tribunal , Federal Audit Court , Direct Unconstitutionality Action , Petrobras Financial Performance , ரியோ வென்ச்சுரா , ரியோ கிராண்டே செய் நார்ட் ,