Brazil’s New Oil Frontier Could Keep Its Boom Alive For Decades
4 Articles
4 Articles
Brazil’s New Oil Frontier Could Keep Its Boom Alive For Decades
Brazilian President Luiz Inácio Lula da Silva has hailed a new offshore oil discovery by Petrobras (NYSE: PBR) near the mouth of the Amazon River as a "passport to the country's future", continuing his support for controversial oil and gas drilling in Amazon's ecologically sensitive regions. Last week, the state-run Oil & Gas giant announced it has found oil at the Morpho-1 well (Block FZA-M-59) in the mouth of the Amazon roughly 180 kilometres …
Petrobras president announces discovery on the Amapá coast, still without volume estimate
Less than two months before the presidential elections, the discovery of oil indices 175 kilometres from the Amazonian coast excited the Brazilian head of state, who sees it as a gateway to the future of the country. But this new oil border also raises the concerns of local people and environmentalists.
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