Brazil’s Government approved exploratory drilling by State-run oil-giant Petrobras near the mouth of the Amazon River. The decision comes only weeks before the UN climate conference in Belem, COP30, where efforts to reduce the use of fossil fuels will be discussed. The Equatorial Margin deposit off the coast of Brazil, which stretches from Brazil’s border with Suriname to a part of the country’s Northeast region, is believed to be rich in oil and gas. Petrobras said in a Statement that the drilling could start right away and take up to five months. It requested to conduct the exploratory drilling in block offshore the northern Brazilian State of Amapa bordering Suriname. The company added that the exploratory well will not produce any oil. The decision by the Brazilian Institute of the Environment and Renewable Natural Resources was publicly celebrated by Energy Minister Alexandre.
