Brazil royalties vote to fall after elections

Royalty issue: Brazil's congress said to take a look after elections

Reuters/Scanpix

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By News wires

 03 July 2012 22:38 GMT

Brazil's congress will take up a vote on distribution of oil royalties from the country's pre-salt offshore reserves only after the country's midterm regional elections in October, government-allied lawmakers said Tuesday.

Speaking after a meeting of congressional party leaders, lawmakers said they would dedicate the months of August and September to resolving differences over the oil legislation, Dow Jones reported.

"There are still a lot of differing opinions on the matter and there is little time, so we decided to give priority to ratifying some pending executive decrees before congress,” lower house governing Workers' Party leader Arlindo Chinaglia said according to the news wire.

Among the decrees set for consideration in congress during the remainder of the current legislative term include ratification of measures…

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