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Reuters
20-05-2025
- Business
- Reuters
Petrobras gets a win in Amazon drilling push but future licensing in doubt
RIO DE JANEIRO, May 20 (Reuters) - A decision by Brazilian environmental agency Ibama on Monday will let state-run oil firm Petrobras ( opens new tab move a step closer to drilling for oil in a coveted offshore region, but it came with an important caveat for future permits in the area. Documents seen by Reuters show Ibama head Rodrigo Agostinho warned in his decision against "disorderly multiplication of future requests for environmental licenses" in the Foz do Amazonas basin, an oil frontier near the mouth of the Amazon River. The area, in the northernmost part of Brazil's Equatorial Margin, is considered Petrobras' most promising oil frontier, sharing geology with nearby Guyana, where Exxon Mobil (XOM.N), opens new tab is developing huge fields. But Agostinho said it would be hard to issue "fragmented and successive exploration licenses" in the Foz do Amazonas basin without a complex environmental study known as an AAAS that could take years to complete. Ibama had previously requested an AAAS to evaluate Petrobras' bid, but Brazil's solicitor-general issued a legal opinion that such a study should not hold up licensing. Agostinho's renewed demand adds to uncertainty about future licensing in the region, where Brazil is preparing to offer new blocks at a June auction. For now, the agency chief granted approval to a Petrobras proposal for how it would assist local fauna in the event of an oil spill in the environmentally sensitive region, which includes vast coral reefs, opens new tab and coastal Indigenous communities. Petrobras said it welcomed the decision on Monday, taking it as a green light to run a test of its environmental emergency plan, which it called the last step before a final licensing decision. The progress for Petrobras represents a loss for Ibama's technical staff, which had signed a document in February saying the plan to rescue fauna in case of an oil spill had only a "remote possibility" of being successful. In 2023, Ibama denied a Petrobras request to drill in the area, which the company immediately appealed, stoking divisions in Brazil's government between environmental advocates and allies pushing for oil and gas development in the region.
Reuters
17-03-2025
- Business
- Reuters
Petrobras' animal center in Oiapoque to be ready for inspection in April
RIO DE JANEIRO, March 17 (Reuters) - A veterinary center run by Brazil's Petrobras ( opens new tab in the Amazon region designed to assist animals in the event of an oil spill should be ready for inspection by environmental agency Ibama in April, documents seen by Reuters showed on Monday. The animal care center in the town of Oiapoque, Amapa state, is one of the main demands from Ibama still not met by Petrobras in order to potentially get approval to drill in an offshore area in the environmentally sensitive Foz do Amazonas region. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here. Work on the center is set to be done by March-end, and Ibama could schedule a visit to inspect it starting from April 7, said the document dated March 14. Despite Petrobras' executives having said that the center is the last demand from Ibama, technical staff at the agency have requested last month that Ibama head Rodrigo Agostinho deny the request for drilling, sources told Reuters. Agostinho is under heavy pressure from President Luiz Inacio Lula da Silva, who has said last month that Ibama "is a government agency that seems to be against the government" due to its delay in approving the license. Ibama blocked Petrobras from drilling the well in 2023, but the company filed a new request, which the agency is currently assessing, with no deadline to give a final answer. Foz do Amazonas, in the so-called Equatorial Margin is Brazil's most promising oil frontier, sharing geology with nearby Guyana, where Exxon Mobil (XOM.N), opens new tab is developing huge fields. While the region holds great potential for Petrobras, the firm has faced stiff resistance from local Indigenous communities in Oiapoque and federal prosecutors related to its bid to drill there.
Reuters
27-02-2025
- Business
- Reuters
Brazil's Ibama staff recommend against Petrobras drilling in Amazon region
RIO DE JANEIRO, Feb 27 (Reuters) - The technical staff at Brazil's environmental agency Ibama recommended that the body deny authorization for Petrobras ( opens new tab to carry out drilling in the environmentally sensitive Foz do Amazonas region, two sources familiar with the matter told Reuters. The final decision will be taken by Ibama's President Rodrigo Agostinho. The agency is under pressure by Brazil's President Luiz Inacio Lula da Silva, who said earlier this month that "Ibama is a government agency that seems to be against the government" due to its delay in conceding the license to drill. The license was denied at least in part because there was not a big change in the plan to assist local fauna in case of an oil spill, one source told Reuters. In May 2023, Ibama denied Petrobras' request for an offshore drilling license for the Foz do Amazonas area off the coast of Amapa state, citing environmental concerns. The oil company appealed soon after, but a final Ibama decision is pending. The offshore site Petrobras' wants to drill at is in Brazil's Equatorial Margin. At the northern end of the area is Brazil's most promising oil frontier, sharing geology with nearby Guyana, where Exxon Mobil (XOM.N), opens new tab is developing huge fields. Make sense of the latest ESG trends affecting companies and governments with the Reuters Sustainable Switch newsletter. Sign up here.
