Brazilian mayoral congress to debate subsalt royalties

摘要

Rio de Janeiro—How Brazil will split the billions of dollars in royalties it will get in the next decade from its subsalt oil boom will be the focus May 16 at the annual March of the Mayors in the capital Brasilia. An inability to resolve the issue could prevent Brazil from auctioning off new concessions. At the most conservative estimates, there are 30 billion-50 billion barrels of light, sweet oil in Brazil’s subsalt fields. Some estimates are as high as 120 billion barrels, given the success rates exploration in these areas has seen.