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Is Petrobras’ New Discovery Reviving Brazil’s Pre-Salt Oil Boom?

Summary by Oil Price

Recently, we reported that Brazilian President Luiz Inacio Lula da Silva has been pressing the country’s environmental regulators to approve oil drilling near the mouth of the Amazon River, arguing that revenue from this new fossil fuel supply could help finance a transition to green energy. Located in the Equatorial Margin, the offshore site, Bloc 59, is about 160 kilometers (99 miles) off Brazil’s eastern coast. Brazil’s environmental regulato…

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Is Petrobras’ New Discovery Reviving Brazil’s Pre-Salt Oil Boom?

Recently, we reported that Brazilian President Luiz Inacio Lula da Silva has been pressing the country’s environmental regulators to approve oil drilling near the mouth of the Amazon River, arguing that revenue from this new fossil fuel supply could help finance a transition to green energy. Located in the Equatorial Margin, the offshore site, Bloc 59, is about 160 kilometers (99 miles) off Brazil’s eastern coast. Brazil’s environmental regulato…

4 days ago·London, United Kingdom

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Oil Price broke the news in London, United Kingdom 4 days ago on Wednesday, February 19, 2025.

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