The government take in Brazilian oil industry under the view of the state

Abstract

The government take, introduced by the brazilian constitution in its article 20, paragraph 1º, is legally treated as financial compensation for the exploration and production of oil, due to the serious environmental impacts associated with the activity and given the nature of oil as a finite resource. in this context, this article aims to analyze the distribution amongst states of all levels of government take maintained by the law nº 9.478/97 (oil law). It is each member states' responsibility to directly audit its share of the government take, and this does not imply a necessary collision with anp's regulatory role. In fact, anp's and states' activities should be harmonious and complementary.

Governmet take; brazilian oil industry; oil legislation development in brazil; legal nature; economic relevance; brazlian oil agency