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Brazil stands to lose US$119 million a year in royalties by using thermal power plants

RIO DE JANEIRO, BRAZIL - Oil companies operating in Brazil believe that the government's compulsory contracting of thermal power plants, under the rules of the Provisional Measure for the privatization of Eletrobras (ELET3), threatens to increase and encourage the use of domestic gas and may lead to a R$600 (US$119) million annual loss in royalties for the country.

According to oil and gas companies, the main issue concerns the legal definition for the . . .

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