Brazil Imposes 12% Crude Oil Export Tax on Karoon Energy.

Karoon Energy Ltd. (ASX: KAR) has announced that the Brazilian government has introduced a 12.0% tax on oil exports, which became effective on 12 March 2026. This tax is positioned as a form of windfall profit sharing in light of the current high oil prices. The tax will be applied to sales volumes of exported oil, and it is expected to be deductible for corporate income tax purposes. However, the tax will be valid for 120 days from its implementation unless ratified by the Brazilian Congress. 

This new measure may affect Karoon Energy’s operations in Brazil, but its final impact will depend on the outcome of the ratification process. Karoon Energy remains committed to navigating this development and will continue to monitor any changes in the tax structure that could influence its business in the region.

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