EconomyLens.com
No Result
View All Result
Thursday, December 4, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

Brazil greenlights oil drilling in sensitive Amazon region

Natalie Fisher by Natalie Fisher
October 21, 2025
in Economy
Reading Time: 8 mins read
A A
0
34
SHARES
422
VIEWS
Share on FacebookShare on Twitter

President Luiz Inacio Lula da Silva has come under fire from conservationists who argue his oil expansion plans clash with his image as a global leader on climate change. ©AFP

Rio de Janeiro (Brazil) (AFP) – Petrobras said Monday it had received a license to drill for oil near the mouth of the Amazon River, enraging environmentalists who said the move would undermine Brazil’s hosting of UN climate talks next month. Plans to expand oil exploration in Brazil, already the world’s eighth-largest producer, are backed by President Luiz Inacio Lula da Silva, who insists oil revenues will help fund Brazil’s climate transition. Critics accuse him of a contradictory stance as he urges world leaders to step up in the fight against climate change ahead of COP30 talks in the Amazon city of Belem from November 10-21.

Related

South Africa says wants equal treatment, after US G20 exclusion

Oil refinery shutdown could cost Serbia for years, experts warn

South Africa prepared to ‘take a break’ from G20 after US ban

Keep energy infrastructure out of war, Turkey warns Moscow, Kyiv

Tree branches to fleece jackets: Chemicals plant in Germany bets on biomass

Petrobras was granted a license to drill in the Foz de Amazonas region after a five-year battle for permission to explore the area. Brazil’s environmental agency Ibama said it had given the go-ahead after “a rigorous environmental licensing process.” However, Brazil’s Climate Observatory NGO said civil society organizations would go to court to fight the decision. “The government is sabotaging the leadership it should have at COP30,” Suely Araujo, a former president of Ibama and coordinator of the Climate Observatory NGO, told AFP. “How can our diplomats advocate for the shift away from fossil fuels…when the country is intensifying fossil fuel exploration and production?”

Araujo, who denied French oil giant Total a drilling license in nearby blocks in 2018, said granting the license had opened the door for other permits in the same region. Foz de Amazonas is part of a promising new offshore oil frontier, with nearby Guyana emerging as a major producer in less than a decade following large offshore discoveries. The region “represents the future of our oil sovereignty. Brazil cannot afford to neglect its potential,” Energy Minister Alexandre Silveira said in a statement. “As long as the world demands oil, someone will supply it…Brazil is going to COP with its head held high,” Silveira said in an interview with the Globo News broadcaster.

Petrobras said it would immediately start drilling an exploratory well at Block 59, an offshore site 500 kilometers (310 miles) from the mouth of the Amazon River. Environmentalists raised alarm about drilling for oil off the coast of the world’s largest tropical rainforest, in an area with strong ocean currents and prone to intense storms. The World Wildlife Fund in Brazil said the area contains 80 percent of the country’s mangroves. Ibama, in its final technical report, highlighted potential risks to already declining populations of manatees from the movement of vessels and equipment in the region and said Petrobras must participate in their conservation.

Petrobras has said its models show that an oil spill at the offshore site “would not be likely to reach the coast” and there would be “no direct impact” on Indigenous communities. “We hope to obtain excellent results from this research and prove the existence of oil in the Brazilian portion of this new global energy frontier,” said Magda Chambriard, president of Petrobras, in a statement. Brazil meets most of its energy needs through renewables and exports more than half of its oil, so emissions from new oil production will not add to its own greenhouse gas tally, but will still be released globally.

“Authorizing new oil licenses in the Amazon is not just a historic mistake — it’s doubling down on a model that has already failed,” said Ilan Zugman of the advocacy group 350.org.

Ibama denied Petrobras an exploration license in 2023, citing inadequate plans to protect wildlife in case of an oil spill. As Petrobras appealed, pressure rose from Lula, who said earlier this year that Ibama was a government agency acting as if it was “against the government.” In February, an Ibama technical opinion seen by AFP said the recommendation remained to “deny the environmental license,” citing the risk of “massive biodiversity loss in a highly sensitive marine ecosystem.” In May, Ibama chief Rodrigo Agostinho cleared Petrobras to conduct an oil-spill drill, the last step before licensing. The test exposed gaps in wildlife protection, but Ibama said Monday that another exercise would occur “during the drilling activity.”

© 2024 AFP

Tags: Brazilenvironmentoil industry
Share14Tweet9Share2Pin3Send
Previous Post

US stocks rise to open big earnings week

Next Post

Servers, software and data: how the cloud powers the web

Natalie Fisher

Natalie Fisher

Related Posts

Economy

Trump scraps Biden’s fuel-economy standards, sparking climate outcry

December 4, 2025
Economy

Trump scraps Biden’s fuel-economy standards, sparking climate outcry

December 3, 2025
Economy

Poor hiring data points to US economic weakness

December 3, 2025
Economy

Trump to scrap Biden’s fuel-economy standards, sparking climate outcry

December 3, 2025
Economy

US retail giant Costco challenges Trump tariffs in court

December 3, 2025
Economy

German lithium project moves ahead in boost for Europe’s EV sector

December 3, 2025
Next Post

Servers, software and data: how the cloud powers the web

Crisis-hit Argentina inks $20 bn rescue with US

US, Australia sign rare earths deal as Trump promises submarines

Stocks rise on China-US hopes, Japan's new PM lifts Tokyo

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

79

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Mixed day for US equities as Japan’s Nikkei rallies

December 4, 2025

Facebook ‘supreme court’ admits ‘frustrations’ in 5 years of work

December 4, 2025

Facebook ‘supreme court’ admits ‘frustrations’ in 5 years of work

December 4, 2025

South Africa says wants equal treatment, after US G20 exclusion

December 4, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.