Brazilian President Lula Will Veto Oil Royalties Bill, G1 Says

Brazilian President Luiz Inacio Lula da Silva said he will veto an oil royalties bill that allows non-producing states to receive a share of the levies on crude production, G1 website reported, citing the president in an interview in Rio de Janeiro today.

To contact the reporter on this story: Lucia Kassai in Sao Paulo at lkassai@bloomberg.net.

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net.

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