Brazil sells rights to oil blocks near Amazon river mouth
Two consortiums -- one comprising Brazil's state-owned Petrobras and US giant ExxonMobil, the other US multinational Chevron and China's CNPC -- spent $153 million on exploration and production concessions for 19 blocks on offer in an area considered vulnerable to environmental harm.
They are among 172 blocks, most of them offshore, that went on auction Tuesday as dozens of protesters gathered outside the venue under a banner reading: "Stop the doomsday auctions."
Green groups have expressed particular concern over 47 blocks in the Atlantic, in an area near the mouth of the Amazon River that flows through the world's largest carbon-capturing tropical rainforest.
The first 19 blocks to which rights were sold were part of these 47.
In all, 34 blocks found takers at the auction, bringing in about $180 million for the state.
Investments of more than $260 million are planned for exploration.
- 'Cannot ignore it' -
Already Latin America's biggest oil and gas producer, Brazil is seeking to increase production from 4.68 million to 5.3 million barrels per day by 2030.
At the same time, the country has pledged to reduce its emissions of planet-warming greenhouse gas emissions to 1.2 billion tons of CO2 equivalent (CO2e).
By 2050, it is seeking to reach neutrality -- meaning emissions do not exceed the amount captured, by forests, for example.
Brazil's ClimaInfo research institute had estimated that the 172 blocks placed on auction would emit some 11.1 billion tons of CO2e.
Leftist President Luiz Inacio Lula da Silva, seeking to position himself as a leader in the fight against climate change, supported the auction that will see the successful bidders pay royalties on whatever oil and natural gas they eventually do extract.
"If this wealth exists, we cannot ignore it, as it will help us to make the energy transition and secure funds to preserve our forests," Lula declared in February.
"We must act responsibly. I do not want oil exploration to cause any harm to the environment," he added.
Before they can start exploration, the companies must obtain a drilling license from environment oversight body Ibama -- a process that can take years.
The Climate Action Tracker, which measures governments' actions, has said Brazil "is not on track" to meet its emissions targets and needed to "peak and rapidly decrease emissions" if the world is to succeed in limiting global warming to 1.5 degrees Celsius (2.7 Fahrenheit).
The auction went ahead despite Brazil's Federal Public Ministry, an independent rights-monitoring body set up under the Brazilian constitution, calling for it to be suspended pending "adequate studies" on the potential impact of exploration.
"Brazil is missing an opportunity to be a leader in decarbonization and environmental protection," Suely Araujo, a former president of Ibama and coordinator of the Climate Observatory NGO said ahead of Tuesday's auction.
And the WWF's Brazil branch said the country "already has enough oil reserves to meet its internal demand" while gradually transitioning to a greener energy mix.
"The climate crisis requires bold decisions and public policies focused on the future, not the past," it added.
Brazil will host the UN climate conference called COP30 in November in the Amazonian city of Belem.
lg/tmo/mlr/dw
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNN
25 minutes ago
- CNN
Dead whales surface on Japan shore amid tsunami warnings
Dead whales surface on Japan shore amid tsunami warnings A drone recorded images of four whale carcasses that were found stranded off the coast of Tateyama, Japan, Reuters reported. This follows tsunami warnings in several parts of Japan. The video contains disturbing images. 00:44 - Source: CNN United Nations' Relief Chief: If anyone can shift Israeli Government, 'It's of course, the Americans' UN Emergency Relief Coordinator Tom Fletcher tells CNN's Christiane Amanpour that if anyone can shift the Israeli government, it's the US, and addresses reports of how food aid is being intercepted. 02:09 - Source: CNN Amusement park ride splits in half in Saudi Arabia At least 23 people were injured, three of them critically, when a fairground ride buckled in Saudi Arabia, sending passengers crashing to the ground, according to state media. 00:33 - Source: CNN Soldiers in Ukraine battle Russian drones CNN's Nick Paton Walsh reports from the frontlines of Ukraine, where soldiers rush to bring in the wounded as drones constantly look for a target. 01:38 - Source: CNN US diminished a key weapons stockpile fighting Iran The US used about a quarter of its supply of high-end missile interceptors during the Israel-Iran war, exposing a gap in supplies, and raising concerns about US global security posture. CNN's Tamara Qiblawi reports. 01:35 - Source: CNN Carney says Canada will recognize Palestinian state Canadian Prime Minister Mark Carney has joined France and Britain in announcing plans to recognize a Palestinian state in September at the United Nations, as international pressure builds on Israel over the ongoing war and starvation crisis in Gaza. President Donald Trump reacted to the announcement by threatening to derail trade talks with Canada. 00:30 - Source: CNN Two leading Israeli human rights groups accuse Israel of genocide Two leading Israeli human rights groups have accused Israel of 'committing genocide against Palestinians in Gaza,' becoming the first such organizations to make the claim. B'Tselem's Executive Director Yuli Novak and Physicians for Human Rights Israel's Executive Director Guy Shalev tell CNN's Christiane Amanpour what was behind their groups' decisions to use the word genocide. 04:59 - Source: CNN Watch F-18 fighter jet perform evasive maneuvers to avoid crashing into audience at airshow A video verified by Reuters shows the moment when a Spanish F-18 fighter jet was forced to perform "evasive maneuvers" to avoid crashing into attendees during the Gijón Air Festival. The military praised the pilot's actions which ensured the safety of the attendees. 00:35 - Source: CNN Mothers risk their lives to get food in Gaza Palestinian women face an awful choice between risking their own lives, which could deprive their families of their only remaining provider, or watching their children starve. CNN's Paula Hancocks reports. 01:33 - Source: CNN Medics perform surgery during earthquake Video shows medics in Petropavlovsk-Kamchatsky, Russia, continuing a surgery on a patient despite a powerful magnitude 8.8 earthquake that struck off Russia's far eastern coast on July 30. 00:47 - Source: CNN Tsunami warnings triggered after major earthquake The strongest earthquake on the planet since 2011 has triggered tsunami warnings for parts of Russia, Japan, and Alaska, as well as all of Hawaii. CNN's Will Ripley reports on the 8.8-magnitude quake. 00:41 - Source: CNN Israeli settler kills activist who worked on Oscar-winning film Odeh Hathalin, a prominent Palestinian activist who had worked on an Oscar-winning documentary, was killed on Monday during an attack by Israeli settlers in the occupied West Bank, according to local journalists and officials. CNN's Jeremy Diamond explains video circulated on social media that shows the gunman firing a hand gun in the vicinity of where Hathalin was said to be killed. 01:36 - Source: CNN Fans in England celebrate Women's Euro 2025 final win Fans celebrate in London as England has been crowned champion of Europe for the second successive time after defeating Spain 3-1 on penalties in the Women's Euro 2025 final. 00:30 - Source: CNN Breaking down Israel's aid drops into Gaza In the midst of a hunger crisis in Gaza, Israel and other countries have begun dropping aid by plane into the area. CNN's Nic Robertson breaks down how much effect this measure can offer, while the UN calls for substantial relief to come from aid trucks moving in quickly through open corridors. 01:15 - Source: CNN People fight for scraps of food in Gaza CNN's Nic Robertson reports on the scarce food conditions in Gaza, with children and mothers fighting off starvation as soup kitchens face shortages. 01:46 - Source: CNN 18 people dead after Peru bus accident At least 18 people have died and 24 were injured after a bus overturned in the Province of Junín, in Central Peru. The cause of the accident is still being investigated. 00:28 - Source: CNN Rare snow leopard baby born at UK zoo Video released by Chester Zoo in the United Kingdom shows a rare snow leopard cub taking its first steps. The baby was the first of its kind born at the facility in its 94-year history. Snow leopards are currently listed as 'vulnerable' on the International Union for Conservation of Nature's (IUCN) Red List of Threatened Species. 01:14 - Source: CNN
CNN
31 minutes ago
- CNN
Live Aid co-organizer's warning on Trump Admin's funding cuts
Live Aid co-organizer's warning on Trump Admin's funding cuts CNN's Chief Climate Correspondent Bill Weir remembers the iconic 1985 Live Aid concert, a fundraiser for Ethiopian children in crisis that drew tens of thousands to attend what became a defining historical moment for Generation X. Concert co-founder Bob Geldof warns Weir that funding cuts under the Trump administration indicate a concerning turning point for American humanitarianism. 02:22 - Source: CNN United Nations' Relief Chief: If anyone can shift Israeli Government, 'It's of course, the Americans' UN Emergency Relief Coordinator Tom Fletcher tells CNN's Christiane Amanpour that if anyone can shift the Israeli government, it's the US, and addresses reports of how food aid is being intercepted. 02:09 - Source: CNN Amusement park ride splits in half in Saudi Arabia At least 23 people were injured, three of them critically, when a fairground ride buckled in Saudi Arabia, sending passengers crashing to the ground, according to state media. 00:33 - Source: CNN Soldiers in Ukraine battle Russian drones CNN's Nick Paton Walsh reports from the frontlines of Ukraine, where soldiers rush to bring in the wounded as drones constantly look for a target. 01:38 - Source: CNN US diminished a key weapons stockpile fighting Iran The US used about a quarter of its supply of high-end missile interceptors during the Israel-Iran war, exposing a gap in supplies, and raising concerns about US global security posture. CNN's Tamara Qiblawi reports. 01:35 - Source: CNN Carney says Canada will recognize Palestinian state Canadian Prime Minister Mark Carney has joined France and Britain in announcing plans to recognize a Palestinian state in September at the United Nations, as international pressure builds on Israel over the ongoing war and starvation crisis in Gaza. President Donald Trump reacted to the announcement by threatening to derail trade talks with Canada. 00:30 - Source: CNN Two leading Israeli human rights groups accuse Israel of genocide Two leading Israeli human rights groups have accused Israel of 'committing genocide against Palestinians in Gaza,' becoming the first such organizations to make the claim. B'Tselem's Executive Director Yuli Novak and Physicians for Human Rights Israel's Executive Director Guy Shalev tell CNN's Christiane Amanpour what was behind their groups' decisions to use the word genocide. 04:59 - Source: CNN Watch F-18 fighter jet perform evasive maneuvers to avoid crashing into audience at airshow A video verified by Reuters shows the moment when a Spanish F-18 fighter jet was forced to perform "evasive maneuvers" to avoid crashing into attendees during the Gijón Air Festival. The military praised the pilot's actions which ensured the safety of the attendees. 00:35 - Source: CNN Mothers risk their lives to get food in Gaza Palestinian women face an awful choice between risking their own lives, which could deprive their families of their only remaining provider, or watching their children starve. CNN's Paula Hancocks reports. 01:33 - Source: CNN Medics perform surgery during earthquake Video shows medics in Petropavlovsk-Kamchatsky, Russia, continuing a surgery on a patient despite a powerful magnitude 8.8 earthquake that struck off Russia's far eastern coast on July 30. 00:47 - Source: CNN Tsunami warnings triggered after major earthquake The strongest earthquake on the planet since 2011 has triggered tsunami warnings for parts of Russia, Japan, and Alaska, as well as all of Hawaii. CNN's Will Ripley reports on the 8.8-magnitude quake. 00:41 - Source: CNN Israeli settler kills activist who worked on Oscar-winning film Odeh Hathalin, a prominent Palestinian activist who had worked on an Oscar-winning documentary, was killed on Monday during an attack by Israeli settlers in the occupied West Bank, according to local journalists and officials. CNN's Jeremy Diamond explains video circulated on social media that shows the gunman firing a hand gun in the vicinity of where Hathalin was said to be killed. 01:36 - Source: CNN Fans in England celebrate Women's Euro 2025 final win Fans celebrate in London as England has been crowned champion of Europe for the second successive time after defeating Spain 3-1 on penalties in the Women's Euro 2025 final. 00:30 - Source: CNN Breaking down Israel's aid drops into Gaza In the midst of a hunger crisis in Gaza, Israel and other countries have begun dropping aid by plane into the area. CNN's Nic Robertson breaks down how much effect this measure can offer, while the UN calls for substantial relief to come from aid trucks moving in quickly through open corridors. 01:15 - Source: CNN People fight for scraps of food in Gaza CNN's Nic Robertson reports on the scarce food conditions in Gaza, with children and mothers fighting off starvation as soup kitchens face shortages. 01:46 - Source: CNN 18 people dead after Peru bus accident At least 18 people have died and 24 were injured after a bus overturned in the Province of Junín, in Central Peru. The cause of the accident is still being investigated. 00:28 - Source: CNN Rare snow leopard baby born at UK zoo Video released by Chester Zoo in the United Kingdom shows a rare snow leopard cub taking its first steps. The baby was the first of its kind born at the facility in its 94-year history. Snow leopards are currently listed as 'vulnerable' on the International Union for Conservation of Nature's (IUCN) Red List of Threatened Species. 01:14 - Source: CNN
New York Times
3 hours ago
- New York Times
Quote of the Day: What Food Costs in Gaza, if You Can Find It
'The prices are so high that they become meaningless.' ARIF HUSAIN, the chief economist at the U.N. World Food Program, on the cost of essentials available in Gaza being prohibitively expensive for many.
