Brazil's president undecided on oil royalty bill - Mantega

BRASILIA Wed Nov 7, 2012 2:49pm EST

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BRASILIA Nov 7 (Reuters) - Brazilian President Dilma Rousseff has not decided whether to sign or veto a controversial oil and gas royalty bill that was passed by the lower house of Congress on Tuesday, Brazilian Finance Minister Guido Mantega said on Wednesday.

The bill, already passed by the Senate, raises royalties on future offshore oil development in the country's most promising "subsalt" region and redistributes royalties on existing exploration and production contracts.

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