Ground-breaking oil bill gets backing from Brazil Congress

theoilandgasworld

A landmark oil bill that designates all royalties from newly discovered oil fields to education and healthcare has been approved by Brazil’s Congress. The bill was passed by the Brazilian lower house on Wednesday; it had already been approved by the Senate. Once signed by the president, the bill will come into effect next year.

The move to channel oil money to public services is one of several reform proposed by Dilma Rousseff, Brazil’s president, as a response to the widespread protests and riots June. The demonstrations, which were held across Brazil, were sparked by a rise in transport costs, though they quickly encompassed other issues, including the cost of staging the 2014 FIFA World Cup, and corruption in the higher echelons of Brazilian politics and industry. The protests often ended in fighting between police and protestors.

According to the BBC, the unrest prompted President Rousseff to present…

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