Energy & Resources
Amazon coast oil find is 'passport to future,' Lula says
Brazilian President Luiz Inacio Lula da Silva has hailed Petrobras's oil discovery near the Amazon coast as a "passport to the future," despite opposition from environmentalists to drilling in the area.
Lula spoke Monday during a visit to Petrobras's operations base after the majority state-owned company announced last week that it had identified hydrocarbons off the coast of northern Amapa state. Petrobras began exploration after a five-year process to obtain an environmental permit.
The oil was found in the Equatorial Margin, a maritime region about 175 kilometers off the Amazon coast. Petrobras President Magda Chambriard said another 15 to 20 days of drilling were needed to determine the size of the field.
Lula, wearing a Petrobras orange jumpsuit, displayed a vial containing a crude sample and said he was not abandoning his goal of one day moving away from fossil fuels. He has argued that Brazil needs oil revenue to fund its transition to cleaner energy and strengthen energy sovereignty.
Environmentalists say drilling threatens a biodiverse region off the coast of the world's largest rainforest. Experts have warned that burning fossil fuels is the main cause of global warming.
Lula, 80, is seeking a fourth non-consecutive term in October elections.
Update
President Luiz Inacio Lula da Silva called the discovery near the Amazon coast a "passport to the future" during a visit to Petrobras's operations base.
Lula said the oil revenue could support Brazil's future while not denying his aim to move away from fossil fuels.
Petrobras President Magda Chambriard said another 15 to 20 days of drilling were needed to determine the size of the field.
Source note: AFP news report published on 17 August 2026 at 23:13:25 UTC.
Update
Petrobras said it detected an organic compound indicating the possible presence of oil, gas or both.
Petrobras CEO Magda Chambriard said the result confirmed the company's optimism about the Brazilian Equatorial Margin and linked the project to energy security.
The deep-water drilling operation began in October 2025 after a five-year environmental permitting process.
The well is in the Equatorial Margin, a maritime region near Guyana, where large oil reserves have been found.
Environmental groups have warned of possible threats to a biodiverse area near the Amazon rainforest.
President Luiz Inacio Lula da Silva supports a gradual fossil-fuel phaseout but believes hydrocarbon revenue is needed to fund Brazil's energy transition.
Brazil was the world's ninth-largest oil producer last year.
Source note: AFP news report published on 14 August 2026 at 23:23:22 UTC.
Update
Petrobras said hydrocarbons were identified in an exploratory well currently being drilled.
The well is about 175 kilometers off the coast of Amapa state in northern Brazil.
The exploration project is opposed by environmentalists.
Source note: AFP news report published on 14 August 2026 at 22:51:18 UTC.
Uncertainty notes
The size of the field has not yet been determined.
Source
AFP news report published on .