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Brazil takes step closer to new licensing rounds

Reforms have finally passed allowing changes to the energy sector

Brazil’s lower house of Congress passed a long-delayed oil-sector royalty reform bill on 6 November, the last in a series of oil industry reforms proposed after the country’s first major offshore discoveries were made. The law will likely face constitutional challenges, but it opens the door for two hotly-anticipated licensing rounds to be held starting next year. In the end, the contentious legislation passed by a comfortable margin of 288 to 124 in the Chamber of Deputies. It  was approved by the Senate last year. The new law allows for oil royalties to be divided more equitably among Brazil’s 26 states. The new royalty payments differ for pre-salt developments and those outside the pre-

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