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New Oil Royalties Plan Threatens Rio Revenue

By Brennan Stark, Contributing Reporter

RIO DE JANEIRO, BRAZIL - A bill to distribute oil royalties more evenly amongst Brazil's 27 states passed its first hurdle when it received approval from Brazil's Senate last Wednesday, October 19th.  The proposal now faces a tough November vote in the lower house of Congress and a torrent of potential lawsuits by those oil-producing states that stand to lose billions.

The plan would see major producer states such as São Paulo, Rio . . .

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